Outpost Market Report 2024

M A R KE T R E P O R T 2024 JACKSON HOLE | W YOMING

OUTPOST PROPERTY MANAGEMENT

O UVILL T P OAGE S T | GRANITE CREEK ESCAPE THE 100 COLLECTION | TETON

I N D U S TRY R E C A P: 2024 The vacation rental industry demonstrated resilience and adaptability in 2024, navigating a dynamic landscape of shifting traveler preferences, regulatory changes, and infrastructure challenges. Across the U.S., occupancy rates remained steady despite increasing supply, as heightened demand for vacation rentals continued to bolster the market. Guests increasingly prioritized pet-friendly accommodations, remote work amenities, and wellness-focused features, underscoring the evolving nature of traveler needs. Meanwhile, local regulations aimed at managing housing availability and neighborhood impacts brought both challenges and opportunities for property managers.

Jackson Hole exemplified the broader industry trends while maintaining its unique position as a premier mountain destination. Despite challenges such as the Teton Pass closure, which briefly disrupted travel routes, the region's vacation rental market remained robust. Jackson Hole’s timeless appeal, coupled with its ability to satisfy the needs of the trend in JOMO (joy of missing out) Travel, ensured it remained a sought-after destination for travelers seeking a blend of natural beauty, private residences, and worldclass amenities.

“JOMO Travel is about finding the right place to truly unplug and enjoy the quiet moments that are so often hard to come by,” - Melanie Fish, head of Expedia Brands PR

(Sources: Key Data Dashboard, Safely.com, Discover Teton Valley, and Reuters.)

OUTPOST

J A C K S ORIDGE N H O LCABIN E | WYO MING TETON VILL AGE | GRANITE 7602 | TETON VILL AGE, WY

5

C A N C E L L ATI O N S — In 2024, Outpost's cancellation rate was 14.5%, significantly lower than the Jackson market's 25.3%. Notable differences included November (17% vs.

38%) and December (17% vs. 52%), with Outpost's lowest rates in April and October (12% each, compared to the market’s 26%). This reflects Outpost’s effective booking policies and commitment to guest satisfaction.

P E R C E N T O F C A N C E L L E D N I G H T S I N 2024* OUTPOST MARKET

40% 30% 20% 10%

*A S O F 1 2 / 1 8 / 2 024

OUTPOST

DEC

NOV

OCT

SEP

AUG

JUL

JUN

M AY

APR

MAR

FEB

JAN

0%

AV E R A G E L E N G T H O F S TAY — In 2024, Outpost's average length of stay (ALOS) was 4.6 nights, slightly below the market's 4.7 nights, aligning with trends toward shorter stays. While down from 4.9 nights in 2023, Outpost outperformed the market in November and December (6+ vs. 5.5 and 5.9 nights) and in April (5.1 vs. 3.6). These results reflect Outpost’s adaptability to evolving traveler preferences.

7 6 5

DEC

NOV

OCT

SEP

AUG

JUL

JUN

M AY

APR

MAR

FEB

4 JAN

NUMBER OF NIGHTS

AV E R AG E L E N G T H O F S TAY I N 2024* OUTPOST MARKET

*A S O F 1 2 / 1 8 / 2 024

JACKSON HOLE | WYOMING

7

A V E R A G E D A I LY R A T E S — In 2024, Jackson's Average Daily Rates (ADR) decreased from $601 in 2023 to $577, with peaks in January ($652), February ($721), and December ($923). Spring months saw the lowest rates, notably April ($300) and May ($321), while summer and winter months like July ($710) and December remained strong. The decline reflects market trends and seasonal demand dynamics.

O U T P O S T AV E R AG E DA I LY R AT E S * 2024 2023

$1,200 $1,000 $800 $600 $400

*A S O F 1 2 / 1 8 / 2 024

OUTPOST

DEC

NOV

OCT

SEP

AUG

JUL

JUN

M AY

APR

MAR

FEB

JAN

$200

O CC U PA N C Y R AT E S — In 2024, Outpost achieved a 67.1% occupancy rate, up from 65.6% in 2023, outperforming the market’s 47.3% by 19.8%. Peak months included January (71.7%), February (78.8%), and July (91.0%), consistently exceeding market performance. The largest gaps occurred in April (29.0% vs.

18.0%) and November (25.0% vs. 14.6%), highlighting Outpost's strength even in low-demand periods.

O CC U PA N C Y R AT E S I N 2024* OUTPOST MARKET OUTPOST 67.1% VS 65.6% LY / MARKET 47.3% VS 47.2% LY OUTPOST = 19.8% HIGHER OCCUPANCY THAN MARKET

100% 75% 50% 25%

DEC

NOV

OCT

SEP

AUG

JUL

JUN

M AY

APR

MAR

FEB

JAN

0%

*A S O F 1 2 / 1 8 / 2 024

JACKSON HOLE | WYOMING

9

A I R -T R AV E L A R R I VA L S — Air travel to Jackson Hole grew in 2024, with 603,646 deplanements from December 2023 to November 2024, up from 582,217 the previous year (Nov—Dec). Summer months saw peak traffic, particularly in July (66,328) and August (66,246). Notable year-over-year increases in June (62,492 vs. 59,855) and July (66,328 vs. 64,861) highlight Jackson Hole's rising popularity.

JAC K S O N H O L E A I R P O R T A R R I VA L S * 2024 2023 2022 70,000 60,000 50,000 40,000 30,000 20,000 10,000

*A S O F 1 2 / 1 8 / 2 024

OUTPOST

DEC

NOV

OCT

SEP

AUG

JUL

JUN

M AY

APR

MAR

FEB

JAN

0

N AT I O N A L PA R K V I S I TAT I O N — Visitation to Grand Teton and Yellowstone National Parks remained strong in 2024, with GTNP peaking at 940,178 visitors in July and averaging 6% higher than 2023. Yellowstone also saw robust growth, particularly in June (1,080,256) and July (1,187,556), marking a year-to-date increase despite slight winter dips. Both parks demonstrated resilience and recovery, with Yellowstone continuing to rebound from 2022 flood disruptions.

T O TA L M O N T H LY V I S I T O R S I N 2024 ( J A N – N O V ) * G R A N D T E T O N N AT I O N A L PA R K (G T N P ) 2024 Y E L L O W S T O N E N AT I O N A L PA R K ( Y N P ) 2024

1,000,000 750,000 500,000 250,000

(2023)

DEC

NOV

OCT

SEP

AUG

JUL

JUN

M AY

APR

MAR

FEB

JAN

0

*A S O F 1 2 / 1 8 / 2 024

JACKSON HOLE | WYOMING

11

GUEST DEMOGRAPHICS — In 2024, Outpost's guest demographics reflected ongoing trends, with the majority coming from major U.S. metropolitan areas. California (9.2%) led, followed by Texas (8.2%), Florida (6.1%), Colorado (5.0%), and New York (4.5%). All these states offer seasonal direct flights to Jackson Hole, driving significant traffic to Outpost properties and highlighting the importance of targeting key travel hubs.

CA

TOP 5 VISITING STATES 9.2 %

CA L I F ORN I A

8.2 %

TE XA S

6.1%

F LORI DA

5 .0%

COLORA D O

4.5 %

N E W YORK

OUTPOST

NY JACKSON, WY

CO

GA TX FL

JACKSON HOLE | WYOMING

13

INDIAN PAINTBRUSH 1112 WESTBANK | WILSON, WY

THE 100 COLLECTION | TETON VILL AGE | SHOOTING STAR CABIN 13

P R O F E S S I O N A L LY M A N A G E D VAC AT I O N R E N TA L S — In 2024, the total count of professionally managed vacation rentals in the Jackson Hole market remained stable, with 762 properties surpassing the previous high of 760 in 2022. Outpost continued to solidify its market leadership, now managing 270 properties, which accounts for 35.43% of the total professionally managed rentals in the area. This marks a small increase in market share compared to the previous year and highlights Outpost’s sustained dominance in Jackson Hole.

Q UA N T I T Y O F P R O F E S S I O N A L LY M A N AG E D R E N TA L S OUTPOST

270 138

COMPA N Y A

113

COMPA N Y B

77

COMPA N Y C

56

COMPA N Y D

31

COMPA N Y E

25

300

200

150

0

100

52

OTHER

50

COMPA N Y F

T O TA L P R O P E R T I E S : 762 O U T P O S T = 3 5 . 4 3 % O F P R O F E S S I O N A L LY M A N A G E D P R O P E R T I E S BREAKDOWN BY AREA: T O W N O F J A C K S O N = 3 5 . 0 4 % | T E T O N V I L L A G E = 3 7. 8 0 % | W I L S O N = 2 7. 1 6 %

JACKSON HOLE | WYOMING

17

TOTA L Q UA NTIT Y O F VAC AT I O N R E N TA L S — In 2024, the total number of vacation rental listings across Airbnb and VRBO in Jackson Hole remained steady at 2,480+ unique listings. This represents a modest decrease from the 2,500+ listings recorded in 2023.

The breakdown by area shows the Town of Jackson leading with 934 listings, followed by Teton Village with 737 listings, and Wilson with 647 listings.

Notably, the average sleeping occupancy per unit in Teton Village was the highest, with 7.92 on VRBO and 7.75 on Airbnb.

Q UA N T I T Y O F R E N TA L S

+62 44 38 +56 49 +51 TOWN OF JACKSON

38%

62%

Listings: 934 Occupancy: 5,773

WILSON

44%

56%

Listings: 647 Occupancy: 4,068

OUTPOST

TE TON VILL AGE

49%

51%

Listings: 737 Occupancy: 5,773

SNAKE RIVER SPORTING CLUB | FAIRWAY LODGE 5 | JACKSON, WY

CO N F I G U R ATI O N O F VAC AT I O N R E N TA L S — In 2024, two-bedroom accommodations continued to dominate Jackson Hole's rental market at 31.43% of all listings. Three-bedroom homes were also popular, at 26.14%.

VAC AT I O N R E N TA L C O N F I G U R AT I O N & R E N TA L T Y P E A S A P E R C E N TAG E O F T O TA L I N A G I V E N A R E A

TOWN OF JACKSON

WILSON

TE TON VILL AG E

4+21+29301132 2+28+3417982 1+7+32301794 37+35+721 56+34+46 49+35+8

0 BEDROOMS

1 BEDROOM

TH 6.85% | C 36.94% H 34.90% | O 21.31%

TOWNHOUSE (TH)

2 BEDROOMS

3 BEDROOMS

4 BEDROOMS

TH 3.86% | C 56.11% H 34.00% | O 6.03%

CONDO (C)

HOUSE (H)

(OTHER: HOTEL, ALT VR, B& B + OT H ER)

OUTPOST

5 BEDROOMS

6+ BEDROOMS

TH 7.6% | C 48.85% H 35.41% | O 8.14%

OTHER (O)

VAC AT I O N R E N TA L AMENITIES — In 2024, key amenities in vacation rentals, such as WiFi, pet-friendly options, and hot tubs played a crucial role in booking decisions. Notable trends included a rise in air conditioning in the Town of Jackson, from 28.5% in 2022 to 51.99% in 2023, stabilizing at 50.96% in 2024. Hot tubs were popular in Teton Village (78.97%), while fireplace availability remained high across neighborhoods. Pet-friendly rentals declined in the Town of Jackson (17.02%) and Wilson (6.65%). These trends highlight travelers’ evolving preferences for connectivity and relaxation.

A M E N I T I E S O F F E R E D AT VAC AT I O N R E N TA L S A S A P E R C E N TAG E O F T O TA L L I S T I N G S P E R A R E A 100%

75%

50%

25%

0

A/C

FIREPLACE

WIFI

TOWN OF JACKSON

ELEVATOR

WILSON

POOL ACCESS

PET FRIENDLY

HOT TUB

TETON VILLAGE

JACKSON HOLE | WYOMING

21

S K I D E S TI N ATI O N S : W I N T E R -A DJ U S T E D O CC U PA N C Y R AT E S — During the 2023-2024 winter season, Jackson Hole's occupancy rate rose slightly to 46.4% (up from 45.9%), trailing Breckenridge, which saw the largest increase to 55.6% (from 49.6%). Park City improved to 41.4% (from 38.3%), while Southwest Colorado dipped to 37.9% (from 38.1%), and Telluride & Mountain Village remained steady at 40.2% (down from 42.7%).

These trends highlight Jackson Hole's strong competitiveness among western ski destinations.

W I N T E R -A DJ U S T E D O CC U PA N C Y R AT E S F R O M N OV E M B E R 2023 T O M A R C H 2024 BRECKENRIDGE

JACKSON HOLE

PARK CITY AREA

SOUTHWEST COLORADO

60%

TELLURIDE AND MOUNTAIN VILLAGE

50%

40%

30%

OUTPOST

2 02 3

2 02 4

2 02 1

2 02 2

2 02 3

2 02 4

2 02 1

2 02 2

2 02 3

2 02 4

2 02 1

2 02 2

2 02 3

2 02 4

2 02 1

2 02 2

2 02 3

2 02 4

2 02 1

2 02 2

20%

JACKSON HOLE | WYOMING

23

OUTPOST CREW AUTUMN 2024 JACKSON HOLE, WY

OUTPOST

WELCOME TO OUR HOME .

Since its founding in 2014, Outpost has been dedicated to providing exceptional service and care to guests and homeowners, welcoming them into the stunning beauty of the Tetons. Managing over 270 properties with a locally based team, we share a deep respect for the Jackson Hole community and the mountains we call home, striving to preserve their integrity while creating meaningful connections with those we serve.

As part of the Outpost Group—including O2 Cleaning, Terrain Landscaping + Snow Removal, Snake River Roasting Co., and Provisions Catering—we offer comprehensive vacation rental, property management, and luxury caretaking services. Each property is treated with the same care we give our own, ensuring every guest and homeowner feels embraced by this special place.

Guided by a vision of respect and stewardship, we are committed to giving back—supporting local causes, promoting environmental education, and fostering responsible tourism. Inspired by Edward Abbey’s words, “Wilderness is not a luxury but a necessity of the human spirit,” we are honored to share the Tetons’ unmatched beauty with all who visit.

With gratitude, Mekki Jaidi (Owner & Broker) and Annie Jackson (Managing Director & Broker)

JACKSON HOLE | WYOMING

25

T R AV E L E R S R E P O R T E D I N 2024 : Interested in taking a vacation to unplug

85%

Reported that jomo " joy of missing out" travel reduces stress & anxiety Believe jomo travel enables them to reconnect with loved ones Ranked viewing the northern lights as their top natural phenomenon experience

62%

~50%

61%

Important for their accommodations to provide prime viewing spots for natural wonders Are influenced by movies, tv shows, or streaming series when planning their vacations.

80%

66%

M A R K E T R E P O R T 2024 - R E F E R E N C E S •

Page 4: Key Data Dashboard, Safely.com, Discover Teton Valley, and Reuters

•

Pages 6–9: Key Data Dashboard

•

Page 12: Jackson Hole Airport: https://www.jacksonholeairport.com/airport-board/activity-reports/

•

Page 13: National Parks Service visitors use: https://irma.nps.gov/STATS/Reports/Park/GRTE

•

Pages 17: Outpost research

•

Page 18, 20–21, 22: Key Data Dashboard

•

Page 26: Expedia

•

Photography: Taylor Glenn and Aaron Kraft

OUTPOST GROUP

OUTPOST OUTPOSTJH.COM | (307) 690-4790 ext. 3 MANAGEMENT@OUTPOSTJH.COM

SNAKE RIVER ROASTING CO. COFFEE HOUSE + ROASTERY (307) 312-2382 SNAKERIVERROASTINGCO.COM HELLO@SNAKERIVERROASTINGCO.COM

TERRAIN TERRAINJH.COM | (307) 218-6153 INQUIRY@TERRAINJH.COM

O2 CLEANING O2CLEANINGJH.COM | (307) 227-3480 INFO@O2CLEANINGJH.COM

PROVISIONS PROVISIONSJH.COM | (307) 306-4667 INFO@PROVISIONSJH.COM

OUTPOST