Market Reports, Investors, Utah

Park City 2026 Q1 Market Report

Published on Apr 20, 2026

Realtor Connection

Home
headshot

Christopher Stenger

Regional Manager of Business Development

Reach Out

Dear Partners,

As we close out the first quarter of 2026 and head into spring after a not-so-perfect winter, I wanted to provide some insight into how Park City’s short-term rental market performed through the first three months of the new year.

This report will outline the performance trends and insights of the quarter compared to Q1 of 2025. It will also showcase how the Park City market continues to evolve and where Natural Retreats will remain well positioned as we move into the new season.

Report Sections

Market Overview
Market KPIs
Looking Ahead
Glossary

Market Overview

Q1 2026 reflected continued trends from 2025, with shorter booking windows and increased pricing sensitivity shaping overall performance.

January started softer due to inconsistent early-season snow, which delayed booking activity. February carried the quarter as the strongest month across Rate and Occupancy, driven by peak winter demand. March tapered following the peak season, with more selective and price-conscious travel behavior.

Overall, performance remained stable YoY, though results were increasingly driven by active pricing and real-time adjustments rather than static rate strategies.

Key Performance Indicators

The Data

This data was sourced from Key Data, a third-party short-term rental analytics provider sourcing authoritative data from 81 property managers with +/- 3,700 properties, all of which are located within Park City Area.

Average Daily Rate (ADR)

Average Daily Rate (ADR) 2026 Park City

 

Average Daily Rate (ADR): 

Market ADR came in at $651 for Q1, reflecting a 5% decrease compared to Q1 2025 ($683).

Rate softening was seen primarily in January and March, while February maintained stronger pricing which aligned with peak winter demand.

This decline in ADR was largely driven by shorter booking windows and increased pricing sensitivity, where travelers were more responsive to competitive rate adjustments outside of peak periods.

Park City Market Occupancy

Adjusted Occupancy Rate 2026 Park City

 

Occupancy:

APO averaged 45.4% for Q1 2026, resulting in a 15% decrease compared to Q1 2025 (53.5%).

The decline in Occupancy was most noticeable in January and March, when booking activity lagged and demand was more limited outside of peak travel periods. Again, February remained the strongest month, capturing the majority of winter demand.

Overall, Occupancy in Q1 was more concentrated into shorter, high-demand windows, reinforcing the continued shift toward later booking behavior and the need to capture demand closer to arrival.

Park City Market RevPAR

RevPar 2026 Park City

 

Revenue per Available Rental (RevPAR):

RevPAR averaged $295 for Q1 2026, resulting in a 19% decrease compared to Q1 2025 ($365).

The decline in RevPAR was driven primarily by lower Occupancy levels, as ADR remained relatively stable throughout the quarter. February delivered the strongest performance, while January and March trailed due to softer demand outside of peak travel periods.

This shift highlights the importance of capturing Occupancy in the current environment, where maintaining rate alone is not sufficient to drive overall revenue performance.

Natural Retreats VS Park City Market

NR vs Market 2026 Park City

 

Natural Retreats outperformed the Park City market in Q1 2026, achieving a RevPAR of $586 compared to the Market average of $295.

This performance was driven by stronger Occupancy capture during peak demand periods and more responsive pricing strategies that supported booking conversion throughout the quarter.

Looking Ahead

As we move into Q2 and the remainder of 2026, performance will continue to be driven by dynamic pricing strategies, shorter booking windows, and increased competition across the market.

Looking further ahead, Park City is entering a transitional period with the departure of long-standing events such as the Sundance Film Festival. In its place, new demand drivers are beginning to emerge, most notably The Snow League, which is set to host a major event at Park City Mountain in January 2027.

The three-day competition is expected to bring world-class athletes, live entertainment, and a full weekend of winter programming to the market, aligning with the same timeframe traditionally occupied by Sundance.

While still in its early stages, the event signals a shift toward new, experience-driven demand generators that could play a meaningful role in supporting Occupancy and Rate during peak winter periods moving forward.

As Park City continues to evolve, staying ahead of these emerging demand drivers will be key to maximizing performance into 2027 and beyond.

KEY-DATA KPI DEFINITIONS

Glossary

 

  • ADR (Average Daily Rate) measures the average Unit Revenue paid by guests for the Guest Nights in a given time period. ADR = Unit Revenue (Nightly) / Guest Nights.
  • APO (Adjusted Paid Occupancy) calculates the percentage of Guest Nights out of the total nights available for guests to book, or the Nights Available. Adjusted Paid Occupancy = Guest Nights / Nights Available.
  • Adjusted RevPAR (Revenue Per Available “Room”) is calculated by multiplying the Adjusted Paid Occupancy % by the ADR. A critical KPI for measuring revenue performance, Adjusted RevPAR takes into account both the average rate at which you booked the property (ADR) and the number of nights it was booked less owner nights and holds (Adjusted Paid Occupancy).  This provides a better indicator of overall performance when compared to looking at the ADR or the Occupancy alone. Adjusted RevPAR = Adjusted Paid Occupancy % x ADR (or) Total Unit Revenue / Total Available Paid Nights in a given period.
mother and child in living room

Partner with Natural Retreats

We’re actively seeking partnerships with real estate professionals who want to offer added value to their clients. Whether your buyers are exploring vacation home investments or sellers who need a compelling income story, we’re here to help with:

  • Complimentary revenue projections
  • Pre-market rental assessments
  • Seamless onboarding for new homeowner clients
  • Consultation of current short-term rental regulations

 

Natural Retreats provides expert vacation rental management designed to drive returns and preserve property value. We're actively partnering with local agents to help buyers and sellers unlock the full potential of short-term rentals.

Learn More

Questions?

Reach out to our team!

Vacation Rental Management

Discover how partnering with Natural Retreats can help you succeed. Our Homeowner Experience Guide includes all you need to know about vacation rental management in destinations.

 

Questions about Vacation Rental Management?

View FAQs