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Whitefish Q1 Market Report 2025

Published on Apr 29, 2025

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Nicholas Muus

Manager of Business Development

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Dear Partners,

We hope your year is off to a productive start. As we transition into spring, we're pleased to share our Q1 2025 performance insights for the Whitefish vacation rental market. This report includes key performance indicators (KPIs), market trends, and our perspective on what’s driving demand and performance in our region this season.

Report Sections

Market Overview
What's Driving Demand
Market KPIs
Looking Ahead

Market Overview

Whitefish remained a desirable destination in Q1 2025, despite a lighter-than-average snow season. Although Big Mountain wrapped up its ski season a bit early, visitation held steady thanks to the area’s year-round draw and signature events like the Whitefish Winter Carnival and the Skijoring World Invitational.

Our portfolio benefitted strongly from location-driven demand: many of the homes we manage are premium ski-in/ski-out condos and luxury homes perched right on the slopes. These properties naturally command high demand during the ski season and continue to drive exceptional returns for homeowners.

The most consistent performers this quarter were homes that blend top-tier amenities with prime positioning—close to the lifts or downtown Whitefish. Guests are prioritizing experience-rich stays, and professionally managed homes that offer thoughtful design, proactive service, and local support are thriving.

What's Driving Demand in Whitefish?

There’s no single factor but rather, a confluence of trends is fueling Whitefish’s appeal:

  • Adventure-driven travel remains strong, with visitors eager to ski, snowshoe, and explore Glacier National Park in its serene winter form.
  • Remote work schedules continue to open up weekday booking patterns.
  • Event-based travel is rebounding, with guests attending both large events and intimate gatherings.
  • Most importantly, quality inventory matters more than ever. Guests are seeking comfort, convenience, and memorable design, all of which our portfolio delivers.

Q1 2025 Key Performance Indicators

The Data

This data was sourced from 37 property managers and approximately 650 properties across the greater Flathead Valley.

 

Average Daily Rate (ADR)

Average Daily Rate (ADR) Q1 2025 Whitefish

 

With ADR up nearly 9%, the Whitefish market is seeing increased guest willingness to pay for high-end experiences. As the supply of top-tier homes on the mountain grows, the average ADR rises accordingly, setting a new bar for pricing potential. Homes that combine location with quality furnishings, design, and service are driving this trend, and Natural Retreats is proud to lead the way with such properties.

Adjusted Occupancy Rate

Adjusted Occupancy Rate (ADR) Q1 2025 Whitefish

 

A modest rise in occupancy speaks to effective rate management and the benefit of aligning availability with seasonal events and booking patterns. Homes that adjusted pricing in response to early signs of a short ski season and proactively targeted key weekends (such as Presidents' Day) maintained stronger calendars. The revenue management team along with the local GM and AGM in WF capitalized on this market forecast and were able to ensure that bookings stayed consistent and competitive for homes within our portfolio.

Adjusted Revenue per Available Rental (RevPAR)

RevPar (ADR) Q1 2025 Whitefish

 

With higher rates and steadier occupancy, RevPAR grew by over 24%. This growth in RevPAR—the combination of occupancy and rate—demonstrates that the market was able to earn more overall per home, despite weather limitations. It underscores the importance of holistic revenue strategies that not only push rates when demand allows but also adapt quickly to maintain occupancy and maximize yield even in lower-snow years.

Natural Retreats vs. Whitefish Market – Q1 2025

Natural Retreats Vs Market Q1 2025 Whitefish

 

Our homes outperformed the market by more than 200% in Q1. This success is a direct result of our curated portfolio of ski-front and luxury properties, dynamic pricing tools, and consistent guest service. Our team continues to drive premium results, even when market conditions aren’t ideal.

Looking Ahead

As we move into the spring shoulder season, April bookings are pacing similarly to last year, while May and June are expected to pick up later in the cycle. We are optimistic for a strong summer season, especially with more travelers planning longer stays and family vacations.

This quiet window is being used wisely—our local team is conducting thorough home inspections, refreshing property listings, and onboarding new homes to be guest-ready for summer. Our goal is always to maximize homeowner returns while maintaining a five-star guest experience.

Home on hillside in whitefish montana

Partner with Natural Retreats

We are actively working with real estate professionals across the Flathead Valley to provide:

• Complimentary rental revenue projections
• Pre-listing rental income assessments
• Seamless onboarding for new homeowners
• Guidance on short-term rental zoning and regulations

Our unmatched local knowledge, backed by national scale and resources, makes us the ideal partner for your clients seeking to optimize their vacation home investments.

Let’s connect and grow together. If you have clients preparing to buy or wanting to improve an existing rental, we’re ready to help.

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.

 

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