H1 Outlook (Q1–Q2)
For the first half of the year, we expect continued moderation in demand compared to prior years. Occupancy and revenue trends are being influenced by both softer booking volumes and more competitive pricing environments. That said, even in a softer market, well positioned homes continue to capture demand when pricing, visibility, and flexibility are aligned. Mid-Tier properties are seeing the largest variance in Adjusted Paid Occupancy, while our Mainland Markets, which primarily cater to drive-to demographics are seeing the strongest performance for H1.
H2 Outlook (Q3–Q4)
Looking ahead, H2 booking windows are still forming, and historically we see meaningful momentum build as we move through summer and even into fall. While forward pacing is currently lighter year over year, it remains early in the booking cycle. Our focus will remain on ensuring homes are competitively positioned not only in pricing but with marketing to capture demand as it materializes.
Mid-Term Rental Properties
Our Mid-Term Rental portfolio continues to show encouraging momentum in 2026.
H1 Performance
For the first half of the year, MTR check-ins are pacing ahead of last year:
This represents meaningful year-over-year growth in a market environment where broader short-term rental demand has been softer.
This performance is not by chance. Over the past several months, we have worked closely with property managers and owners to ensure homes are properly positioned within the current demand landscape. Those who have remained flexible and aligned with evolving market trends, particularly around pricing and availability are seeing the strongest results.
The data clearly shows that properties willing to adapt to current booking behavior are reaping the rewards through increased occupancy and more consistent stay volume.
H2 Pacing
Looking ahead to the second half of the year, H2 MTR check-ins are pacing on par with last year:
While it remains early in the H2 booking cycle, this stability is encouraging and suggests sustained demand within the mid-term segment. Based on current pacing trends and continued strategic alignment, we expect H2 to remain steady as booking windows continue to build.