As you know, 2024 was a year of continued soft demand in the vacation rental market on the Emerald and Forgotten Coasts, with most Key Performance Indicators (KPIs) in most communities experiencing another year of downward pressure on pricing.

One of the key drivers of this has been the continued increase in supply of vacation rentals in our area. How has it impacted our market? In Q4 of 2024 we saw a 6.1% decrease in Average Daily Rate (ADR), a 5% decrease in Adjusted Paid Occupancy (APO), and a 10% decrease in RevPAR compared to the same time last year (STLY).

Signs of an Improving Market?

In our Annual Report, you will see data for all of 2024 for both the 360 Blue portfolio and for the Market as a whole. You’ll also see how 2024 metrics compare to 2023. As you review the data, there’s one important point I’d like you to keep in mind. While MOST of the communities in our market were down in most KPIs YOY, the same cannot be said for ALL of them. Two communities paced ahead in RevPAR for 2024 vs 2023. Inlet Beach posted a 5.8% increase; and Seaside posted a 6.4% increase.