We spent his morning meeting with prospective property managers for Parkview Mountain House. Here’s what we learned about the short-term rental market in Park City, Utah:
Property management fees generally range from 20-35% of revenue (these are turnkey solutions)
Airbnb is somewhere around 80% of the market here; though it does tend to skew toward slightly smaller rentals, whereas VRBO skews larger
Sundance Film Festival and New Year’s Eve are the two busiest times in Park City (demand greatly exceeds the available vacation rentals — 120%?)
Many Sundance guests tends to be people on expenses accounts: not price sensitive, but apparently very demanding
Winter is obviously peak demand because of snowboarding and skiing, but demand is still strong in the summer because of cycling, hiking, golfing, fishing, etc.
The two slowest times are spring (mud season) and fall
Many PMs will track booking lead times, which is the period of time between booking and check-in
This past winter season, demand was strong but average lead times were way down — meaning people were booking last minute and responding to snowstorms
During heavy snowfall seasons, like the one Utah had this past winter, you’ll likely need to budget for roof snow clearing (a few thousand for the season)
Heated driveways are a very good idea in the mountains
The most popular / most searched amenity is by far a hot tub; servicing one will run you about $125 per month
I always find it fascinating to dig in and learn about a new industry and/or market. And that’s exactly what we did this morning.
We spent his morning meeting with prospective property managers for Parkview Mountain House. Here’s what we learned about the short-term rental market in Park City, Utah:
Property management fees generally range from 20-35% of revenue (these are turnkey solutions)
Airbnb is somewhere around 80% of the market here; though it does tend to skew toward slightly smaller rentals, whereas VRBO skews larger
Sundance Film Festival and New Year’s Eve are the two busiest times in Park City (demand greatly exceeds the available vacation rentals — 120%?)
Many Sundance guests tends to be people on expenses accounts: not price sensitive, but apparently very demanding
Winter is obviously peak demand because of snowboarding and skiing, but demand is still strong in the summer because of cycling, hiking, golfing, fishing, etc.
The two slowest times are spring (mud season) and fall
Many PMs will track booking lead times, which is the period of time between booking and check-in
This past winter season, demand was strong but average lead times were way down — meaning people were booking last minute and responding to snowstorms
During heavy snowfall seasons, like the one Utah had this past winter, you’ll likely need to budget for roof snow clearing (a few thousand for the season)
Heated driveways are a very good idea in the mountains
The most popular / most searched amenity is by far a hot tub; servicing one will run you about $125 per month
I always find it fascinating to dig in and learn about a new industry and/or market. And that’s exactly what we did this morning.
I am in Park City for the weekend because we just started site works for Parkview Mountain House (PMH).
When you’re building in the mountains, there are generally two types of sites: sites that are uphill from the road and sites that are downhill from the road.
The latter is significantly harder to build on because you have to first create access to the lot, which means bringing in soil and creating a ramp. You may also end up craning in materials.
Thankfully, our site is on the uphill side. You bring in an excavator, dig into the mountain, and then you have a flat workable site.
That’s what we’re doing on site right now and it’s what you’re seeing above — a big hole in the side of a mountain. And it’s pretty exciting.
Photos: Isaac Silvera
Our week of working remotely in the mountains of Utah has come to an end. Being on mountain time meant early mornings every day. But it also meant being able to enjoy the evenings, including sunsets like the one shown here at the top of Ensign Peak. This was my first time really experiencing the Salt Lake City area in the summer, and I'm grateful for the opportunity. It is a beautiful place, and one that still feels under the radar once you exclude its global draw as a ski and snowboard destination. I also had a great time capturing it on my camera. So I'm excited to share my latest NFT photography collection -- Utah. All of the photos were taken on my Fujifilm X-T3 (35mm) and can be viewed and purchased over here on Foundation.
I am in Park City for the weekend because we just started site works for Parkview Mountain House (PMH).
When you’re building in the mountains, there are generally two types of sites: sites that are uphill from the road and sites that are downhill from the road.
The latter is significantly harder to build on because you have to first create access to the lot, which means bringing in soil and creating a ramp. You may also end up craning in materials.
Thankfully, our site is on the uphill side. You bring in an excavator, dig into the mountain, and then you have a flat workable site.
That’s what we’re doing on site right now and it’s what you’re seeing above — a big hole in the side of a mountain. And it’s pretty exciting.
Photos: Isaac Silvera
Our week of working remotely in the mountains of Utah has come to an end. Being on mountain time meant early mornings every day. But it also meant being able to enjoy the evenings, including sunsets like the one shown here at the top of Ensign Peak. This was my first time really experiencing the Salt Lake City area in the summer, and I'm grateful for the opportunity. It is a beautiful place, and one that still feels under the radar once you exclude its global draw as a ski and snowboard destination. I also had a great time capturing it on my camera. So I'm excited to share my latest NFT photography collection -- Utah. All of the photos were taken on my Fujifilm X-T3 (35mm) and can be viewed and purchased over here on Foundation.
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