Short Term Rental Trends

Wyoming Airbnbs & STRs

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RedAwning offers vacation rental property management for busy vacation rental owners and Airbnb hosts. Starts at 10% of revenue.
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Current Vacation Rental Performance in Wyoming

Market Overview

Wyoming's vacation rental market is robust, driven by the state's vast natural beauty, including attractions like Yellowstone and Grand Teton National Parks. The market caters to various preferences with a range of property types, from cozy cabins to luxury homes.

Demand Drivers

  • Proximity to Natural Attractions: Rentals near national parks and scenic areas have higher occupancy rates due to their appeal to nature enthusiasts and outdoor recreation seekers.
  • Year-Round Appeal: The market experiences peak seasons in both summer and winter, with summer attracting hikers and wildlife watchers, and winter drawing snowsports enthusiasts.

Key Locations

  • Jackson Hole: Known for its strong real estate market and high demand, Jackson Hole attracts over 2.6 million visitors annually. It is particularly popular for entire home rentals, especially those with 2 or 3 bedrooms, catering to families and groups.
  • Teton Village and Cody: These areas are also highly sought after due to their scenic beauty and proximity to tourist hotspots.

Seasonal Performance

  • Summer: High demand during summer months, especially in areas like Yellowstone National Park, with a focus on outdoor activities such as hiking and wildlife viewing. However, Jackson Hole saw a decline in summer occupancy rates recently, possibly due to its reliance on air travel.
  • Shoulder Seasons: Spring and fall offer opportunities for lower rates and fewer crowds, making them attractive for guests looking for off-peak travel deals.
  • Winter: The winter season is ideal for snowsports, contributing to peak occupancy rates in areas like Jackson Hole.

Financial Performance

  • Revenue and Occupancy: Jackson Hole typically generates a significant portion of its annual revenue during the summer months (June to August), but recent data shows volatility in occupancy rates and average daily rates.
  • Property Values: Real estate prices in Jackson Hole are increasing, with a 43% year-on-year increase, making it a valuable investment despite the challenges in the short-term rental market.

Marketing and Management

  • Online Strategies: Effective marketing involves regular content creation, social media engagement, and forming local alliances to enhance the guest experience and maintain a strong online presence.

Overall, Wyoming's vacation rental market is strong, with high demand driven by its natural attractions and recreational opportunities. However, it is important for property owners to be aware of the market's seasonality and adapt their strategies accordingly to maximize returns.

Current Airbnb & VRBO Trends by City

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FAQ

What does your pricing structure look like?
Our prices start at 10% of revenue. You can check out our pricing page for more information.
What types of vacation rental properties do you manage?
We manage a wide range of vacation rental properties, including single-family homes, condos, apartments, and luxury villas. Our services are tailored to meet the unique needs of each property type.
How do you handle guest support?
Our team provides 24/7 guest support, handling all inquiries, booking assistance, and any issues that may arise during a guest's stay. This ensures a seamless experience for your guests.
What is included in your damage waiver?
Our damage waiver provides $3,000 in coverage per booking, protecting you from accidental damages without the need for security deposits. This coverage is automatically included with every booking.
How does the payment process work?
We handle all aspects of the payment process, including processing payments, managing declined cards, and providing chargeback protection. Funds are deposited directly into your account, ensuring a smooth and secure transaction.
Can I still use my own booking website?
Absolutely! We offer a direct booking website service that allows you to showcase your property and accept bookings directly, bypassing the fees charged by major booking sites.
How do I get started with RedAwning?
Getting started is easy! Simply contact us for a free consultation, and our team will guide you through the onboarding process to ensure a smooth transition to our platform.
Why is RedAwning better than other property management companies?
RedAwning sets itself apart from other property management companies with a technology-driven, cost-effective approach that offers both full-service and partial management options, catering to vacation rental owners who value flexibility and control. Unlike competitors like Vacasa or AvantStay, which focus solely on full-service management with fees ranging from 25-50% of income, RedAwning provides a choice: comprehensive oversight including marketing, reservations, guest support, and maintenance, or a partial-service model emphasizing marketing and bookings across 50+ platforms like Airbnb, Vrbo, and Booking.com, potentially increasing bookings compared to narrower-channel options like Evolve. RedAwning's fees start at 10%. Having served the industry for 15 years, RedAwning combines experience with lower fees and rapid onboarding—listing properties in an afternoon—appealing to hosts who want efficiency without losing decision-making power, though it may not suit those needing extensive local support like Vacasa provides. Its scale (20,000+ properties across 10,000 destinations) and data-driven pricing give it an edge over Evolve’s simpler approach, making it a versatile choice for tech-savvy hosts seeking tailored management solutions.