Truckee /North Lake Tahoe Region Sees Ninth Consecutive Year of Tourism Growth According To Recent RedAwning Market Report
Vacation Rental Demand and Supply Growth in Truckee Outpaces that of Tahoe City Despite Economic Slowdown Country-Wide
EMERYVILLE, CA – (January 7, 2019) — RedAwning.com, the world’s largest network of vacation properties, today released an in-depth market report exploring accommodation and tourism trends in the Truckee /North Lake Tahoe Region. According to the report, the collection of $3.5M in Transient Occupancy Tax (TOT) dollars between July 2018 and March 2019 suggests that the lodging sector in Truckee is alive and well, with vacation rental demand continuing to see both supply and demand growth.
According to the report, shoulder season occupancy rates for September 2019 were higher than in 2018, and monthly revenue is up 6.5% YOY suggesting Truckee may be evolving into a year-round destination. Furthermore, total accommodation nights booked in Truckee are up 16% and the total number of booked properties has gone up 37% over the past two years.
“The timing has never been better to start renting out a vacation property in the Tahoe Truckee area,” said RedAwning’s VP of Market Development, Johnathan Robinson. “Our data suggests that even shoulder seasons have begun to pick up as visitors from around the world continue to discover the destinations year-round appeal.”
Truckee-based RedAwning vacation rental owners and managers saw an 88% booking increase YOY in 2019 and RedAwning listings in the region outperformed the regional average by 232% YOY.
“RedAwning’s marketing and hospitality services continue to yield industry-leading results for vacation rental owners across the country and we are looking forward to breaking new records as the market in Truckee thrives.”
The full report for Truckee-Tahoe available to download here.
RedAwning is the world’s largest chain of vacation properties offering a comprehensive layer of solutions and support with every stay, including 24/7 guest and property manager support services, complete marketing, distribution, and reservation management solutions, digital solutions incorporating Google-integrated ads, a mobile app for property managers and guests, and a full range of additional technology and service innovations. With over 100,000 unique properties in over 10,000 destinations, RedAwning has served over 950,000 travelers to date, and continues to expand on being the broadest single point of access to the largest network in the world for alternative lodging. RedAwning is the leading supplier of vacation rentals to every major online travel booking website including Booking.com, Expedia, HomeAway/VRBO, Flipkey/TripAdvisor, and Airbnb. RedAwning also operates a number of exclusive vacation property booking websites, including RedAwning.com and RedAwning TravelPro.
RedAwning has been a leading innovator in the vacation rental industry since 2010, with a mission to redefine the customer journey for guests, hosts and managers and to drive new approaches that make the booking experience more consistent, easier, safer and better for all. The company is profitable, rapidly growing, and backed by Silversmith Capital Partners.
Since 2015, RedAwning has expanded its reach and services by acquiring Perfect Places, VaycayHero, TravelPro Rentals, RedAwning.com, and its most recent acquisition Leavetown Vacations, Jetstream by Leavetown, and Blizzard Internet Marketing.
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To learn more about RedAwnings complete reservation and marketing solutions visit www.redawninggroup.com.