Kristy Lake
Regional Manager of Business Development
Dear Trusted Partners,
We hope you had a productive third quarter and are looking forward to a successful fourth quarter! We are excited to start sharing short-term rental data, along with our perspective on how it applies to the Mammoth Lakes market. This review provides an overview of key performance indicator trends for July, August and September 2025 as compared to the same period last year.
Market Overview
The Mammoth Lakes vacation rental market continued to show resilience in Q3 despite broader economic uncertainty and shifting travel patterns. Visitor demand remained strong, buoyed by the town’s unique events and holiday fun, such as the Fourth of July, the Mammoth Reggae Festival, and The Mammoth Festival of Beers and Bluesapalooza. While supply has slightly decreased, travelers continue to prioritize high-quality, professionally managed homes. The increase in Average Daily Rate supports this position.
Overall, the third quarter revealed positive momentum across key performance indicators. Gains in Average Daily Rate (ADR) and Revenue Per Available Rental (RevPAR) suggest that well-positioned properties are commanding strong returns. As travelers become more discerning, homes with premium amenities, thoughtful design, and exceptional service are rising to the top.
Q3 2025 Key Performance Indicators
The Data
This data was sourced from 29 property managers with +/- 950 properties, all of which are located within Mammoth Lakes.
Average Daily Rate (ADR)
Average Daily Rate (ADR):
Average Daily Rate: The Mammoth Lakes market saw a 2% year-over-year increase in ADR for Q3 2025, from $187 to $191, reflecting a growing demand for higher end accommodations.
Mammoth Lakes Market Occupancy
Occupancy:
Year-over-year occupancy is down slightly, less than 1%. July continues to be a strong month for the market, with close to 45% occupancy. August was the only month of the quarter where occupancy improved year over year, which appears to be driven by a pickup in smaller one and two-bedroom units.
Mammoth Lakes Market RevPAR
Revenue per Available Rental (RevPAR):
Revenue per Available Rental (RevPAR) increased to $68—a 1.2% year-over-year gain. RevPAR combines both occupancy and rate performance, offering a more complete picture of how well a rental is earning. Again, August is the real driver in the year-over-year gain, supported by ADR and Occupancy improvement, despite a shorter average length of stay.
Natural Retreats vs. Mammoth Lakes Market – Q3 2025
Natural Retreats outperformed the broader market by over 22% in adjusted RevPAR—a key performance indicator that reflects revenue performance. This outperformance primarily represents the higher quality homes that Natural Retreats represents in the region. Being discerning about the inventory we bring on allows us to command higher ADRs than the market and deliver higher levels of services to homeowners and guests.
The Mammoth Lakes market remains resilient and valuable for vacation rental homeowners—especially those positioned with expert property management. As a trusted local operator, Natural Retreats helps homeowners optimize both occupancy and revenue through dynamic pricing, luxury guest services, and hands-on care.
KEY-DATA KPI DEFINITIONS
Glossary
We’re actively partnering with real estate professionals throughout the Mammoth Lakes area to help their clients make the most of vacation home ownership. Whether your clients are considering purchasing a second home or preparing to sell, we can provide valuable rental insights, including:
Explore market trends that reveal where returns are rising — from occupancy rates to average daily revenue. Sign up and recieve market data directly to your inbox.
