MOUNTAIN WELLNESS RETREAT
Douglas & Wynn Waggoner
Dear Douglas & Wynn,
I hope you're having a great summer thus far. I'm writing to share a few key updates on our performance and strategy as we continue to navigate a dynamic market together.
One of the most significant trends we're seeing is the continued shift towards last-minute travel. Over the last three months, the average booking window has been just seven days. Our ability to adapt to this behavior is a key part of our shared success.
On the competitive front, we have noticed one of our main competitors has aggressively lowered their rates. We believe this is a direct response to our growing presence in the market. While we will not engage in a race to the bottom, we have strategically adjusted our pricing to ensure we remain the best value for our guests. A core part of our strategy is to continue building our presence in select, high-demand neighborhoods, which will give us greater pricing power over time.
Our work to expand distribution is yielding fantastic results. The Wander channel is steadily gaining traction, and we're thrilled to see that Marriott Homes & Villas accounted for 23% of our total bookings in the last two weeks alone.
Our efforts over the last 6-9 months are proving effective. The last week of June was our best week ever from a pacing perspective. While we currently represent about 9% of the luxury market, our properties accounted for nearly 36% of the total bookings in the final week of the month—a testament to the quality of your homes and our team's efforts.
As always, our mission is to provide unreasonable hospitality to you and our guests. We are incredibly grateful for our partnership and look forward to another successful month ahead.
Best,
The Elysian Team
