Christopher Stenger
Regional Manager of Business Development
Dear Partners,
As we close out the third quarter and head into another winter in Park City, I wanted to share a look at how the local short-term rental market performed through the summer months.
The following report outlines performance trends for July, August, and September 2025 compared to the same period last year, highlighting how the Park City market continues to evolve and where Natural Retreats remains well positioned heading into the new season.
Market Overview
The Park City market held steady through the third quarter, supported by consistent visitation and strong late-summer travel activity. While broader market rates softened slightly compared to last year, traveler interest remained high, with continued demand for elevated lodging and well-managed homes. We maintained a strong market position by focusing on premium properties and guest experience. This strategy helped preserve rate integrity and deliver healthy performance despite wider rate compression seen across mid-tier inventory.
As we transition toward the winter season, market momentum remains healthy, supported by advance holiday planning, consistent event programming, and the continued draw of Park City’s luxury lodging market.
Q3 2025 Key Performance Indicators
The Data
Sourced from Direct. Data represents approximately 86 property managers and 3,600 vacation rentals across the greater Park City area.
Average Daily Rate (ADR)
Average Daily Rate (ADR):
Market ADR averaged $208 for Q3 2025, reflecting an 8 % decrease year over year. Rate softening was consistent throughout the period, supported by late-summer travel and event-driven demand. This decline in average daily rate was largely the result of a shorter booking window, where drive market travelers likely took advantage of more competitive rates.
Park City Market Occupancy
Occupancy:
Market occupancy showed healthy growth, climbing from 24.1% in 2024 to 26.8% in 2025, an 11 % year-over-year increase. This gain reflects improved booking consistency through core summer months, particularly July and August, which benefited from strong leisure travel and family visitation patterns.
Park City Market RevPAR
Revenue per Available Rental (RevPAR):
RevPAR across the broader Park City market increased 2.5 % year over year, reaching $56 for Q3 2025. While performance in this quarter is typically characterized by the softer seasonal demand, it is encouraging to see a year-over-year increase in RevPAR, which indicates a strong last-minute pickup.
Natural Retreats vs. Park City Market – Q3 2025
Natural Retreats continued to outperform the broader Park City market with a 16% premium of the market’s RevPAR. This was enhanced by our portfolio’s strong ADR performance, particularly in August, when our RevPAR exceeded market levels by nearly 80%.
Looking Ahead
Occupancy growth through Q3 highlights stable traveler demand heading into winter, with
consistent booking activity across the Park City market despite rate adjustments. Natural Retreats’ portfolio continued to outperform, supported by higher ADRs and stronger RevPAR results compared to the broader market.
Traveler preference for professionally managed homes remains clear, as guests continue to prioritize consistency, quality, and service. Our homes performed notably above the market average, reflecting both strong pricing and premium home presentation.
With continued resort expansion in Deer Valley and new development activity around Canyons Village, Park City remains well positioned for another healthy season. Natural Retreats will maintain a focus on premium home partnerships, guest experience, and data-driven rate strategy to sustain long-term performance.
KEY-DATA KPI DEFINITIONS
Glossary
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