Kristy Lake
Regional Manager of Business Development
Dear Trusted Partners,
We hope you’ve had a productive second quarter and are looking forward to a successful Q3! 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 (KPI) trends for April, May, and June 2026 as compared to the same period last year.
Market Overview
The Mammoth Lakes rental market experienced some softening in ADR, Occupancy, and RevPAR during Q2. This decline may be attributed to broader economic uncertainty and elevated gas prices. Because many Mammoth Lakes visitors drive from the Los Angeles area, increased travel costs likely impacted both demand and booking behavior, contributing to weaker performance metrics.
That said, Q2 is typically a slower season for the market, so some moderation is expected during this time of year. Looking ahead, we anticipate a strong summer season, which should help drive improved Occupancy, ADR, and RevPAR, leading to more favorable results in Q3.
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)
The Mammoth Lakes market saw a 7.8% year-over-year decrease in ADR. Economic uncertainty throughout the quarter likely contributed to softer pricing performance in the market.
Mammoth Lakes Adjusted Paid Occupancy
Year-over-year Occupancy declined by 9%. While May and June remained relatively consistent with prior-year performance, April 2026 experienced a slight decrease. This softness may be attributed, in part, to the economic uncertainty that emerged in late Q1 and continued into Q2.
Mammoth Lakes Market RevPAR
Revenue per Available Rental (RevPAR) decreased to $53 from $64—a 17.2% YoY decrease. RevPAR combines both Occupancy and rate performance, offering a more complete picture of how well a rental is earning.
Natural Retreats vs. Mammoth Lakes Market
Natural Retreats nearly doubled the broader market’s adjusted Average Stay Value in Q2. Average Stay Value measures the average revenue generated per guest stay or reservation over the duration of a visit. This outperformance underscores the strength of the premium homes within the Natural Retreats portfolio and suggests that guests continue to place a higher value on exceptional accommodations and elevated service experiences.
Looking Ahead
As we look ahead to Q2 of 2026, we can expect slightly lower Occupancy due to the early change in seasons, however Natural Retreats is working to capture last-minute interest in spring skiing bookings and capitalize on guests looking for other outdoor adventures such as hiking and mountain biking through judicious rate adjustments.
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:
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