Park City Vacation Rentals Expected to Boom
May 3, 2021
The announcement to make every adult in the US eligible for a vaccination no later than May 1 has placed travel optimism at an all-time high! There was heightened excitement as the CDC announced relaxed travel restrictions for vaccinated Americans traveling within the US and globally, a huge motivating factor for many uncertain citizens to get their COVID-19 vaccination.
Summer travel is already booming and vacation rental property managers across the US are seeing an early surge in summer bookings and reporting record sales with some mountain and beach vacation destinations nearly fully booked. High vaccination rates and a pent-up demand for travel are contributing factors as travelers look to get out of the house, safely reunite and reconnect with friends and family and take advantage of the ability to work remotely.
Park City – One of “America’s Best Mountain Towns”
Outdoor travel is one of the hottest travel trends of 2021 and destinations with access to state and national parks, beaches, lakes and rivers, mountain trails and wide-open spaces are leading the top trending US travel destinations for Summer 2021. Park City is ranked as one of the “Top 10 Best Mountain Towns in America” and with the allure of the great outdoors, summer bookings are booming and show no signs of slowing down.
While the local economy saw a downturn due to closures at the tail end of the ski season, which led to an approximate $153 million in lost visitor spending, the Park City real estate market has remained resilient and continues to boom. Sales for July and August 2020 rose by 62% compared to the previous year and the latest data from the Park City Board of Realtors shows no signs of this slowing down.
While many city slickers are escaping the crowds, seeking seclusion, high-end buying, and making Park City their permanent home, Park City is also a favored destination for new homeowners looking to own a second home or ski-in/ski-out condo. This is good news for the Park City vacation rental industry with a new inventory of upscale homes entering the short-term rental market to meet the unprecedented surge in demand.
Vacation Rentals are the Preferred Acommodation
A recent survey by Vrbo shows that 82% of families already have travel plans for 2021 with the most in-demand properties being mountain cabins and chalets. Flight and rental car prices are already on the rise and, as summer approaches and travel confidence continues to grow, demand for travel is expected to skyrocket.
Vacation rentals continue to be the preferred accommodation option and travelers are willing to pay more for a private home-away-from-home with all the comforts of home, and more! Last year saw shorter lead time and an increase in last-minute bookings, however as traveler confidence grows, property managers are seeing longer lead times and guests beginning to book in advance. Travelers need to avoid the last-minute frenzy, lock in their rates and reservations and enjoy the peace of mind of a safe (and confirmed) vacation.
Park City is the ideal mountain destination to escape the humdrum of daily life and use up your vacation days (or set up your remote workspace with a view!). Park City vacation rental property managers are gearing up for a record summer season and iTrip Park City and StayLuxe Luxury Vacation Homes have a diverse selection of condo rentals and vacation rentals on offer for the perfect summer vacation in one of “America’s Best Mountain Towns”. iTrip Park City and StayLuxe are offering guests a variety of complimentary activities such as Heber Valley Railroad, Jordanelle Rentals and Marina, Zipline Utah, and more!
