As the vacation rental management service for over 6,500 properties throughout North America, we are in a unique position to create regional reports that make it easy for people to understand the earning potential they have.
DENVER (PRWEB) February 23, 2018
Evolve Vacation Rental Network, the fastest-growing vacation rental management company in North America, has released its 2018 Vacation Rental Performance Report for the Smoky Mountain Region of Tennessee. The report highlights key data on revenue, occupancy, and nightly rates for vacation rental properties located in Gatlinburg, Pigeon Forge and Sevierville. This report is the first in a series of reports by Evolve that will reveal essential performance data on the most popular vacation rental markets across North America.
"With the vacation rental industry growing at such an incredible rate, more vacation home owners and prospective buyers are curious about the rental income they can generate," said Evolve CEO Brian Egan. "As the vacation rental management service for over 6,500 properties throughout North America, we are in a unique position to create regional reports that make it easy for people to understand the earning potential they have."
Evolve created the Vacation Rental Performance Reports using proprietary booking data and broader industry analysis. These reports will serve as valuable tools for owners who are considering listing their vacation homes as short-term rentals, as well as prospective buyers who are thinking about purchasing a vacation rental property.
Here are some of the findings from the 2018 Smoky Mountains Vacation Rental Performance Report:
Gatlinburg, Pigeon Forge and Sevierville vacation rentals average 50% occupancy annually - The average vacation rental in the Smoky Mountains’ top tourist towns generate a reliable income year-round with guests in residence at least half of the time.
Occupancy rates surpass 80% in July - Summer months are the high season for the Smoky Mountains region with occupancy rates soaring past 80% for the average vacation rental and above 90% for top performers in the area.
Two-bedroom properties make up 36% of the vacation rental inventory - The majority of vacation rentals in the Smoky Mountains Area are two-bedroom properties, and they command an average daily rate of $175.
5-bedroom vacation rentals have the widest performance gap - A 5-bedroom vacation rental in the 50th percentile makes $70,710 per year, while a property of the same size in the 75th percentile generates $89,719, marking the biggest performance gap across same-size homes.
Evolve is on a mission to make vacation rental easier for everyone. By creating these reports, Evolve is offering vacation home owners and prospective buyers the critical data they need to make informed decisions about their income potential with short-term rentals.
About Evolve Vacation Rental Network
Based in Denver, Colorado, Evolve Vacation Rental Network is a next-generation vacation rental management company that provides homeowners with more rental income and unrivaled flexibility for a fee of 10% per booking − the lowest cost in the industry. The company currently services more than 6,500 vacation rental properties in over 500 markets across North America. For more information, visit EvolveVacationRental.com or call 877-818-1014.