The article explores the transformative impact of the Masters Tournament on Augusta's short-term rental market and offers insights for hosts on capitalizing on this annual surge.

The Masters Tournament Impact on STRs in Augusta

The Masters Tournament dramatically boosts STR listings and ADRs in Augusta, highlighting the event's substantial influence on the local market.

Augusta efficiently matches STR supply with demand during the Masters, maintaining stable occupancy rates and avoiding market saturation.

Early data for 2024 shows strong demand for the Masters, with an opportunity for hosts to adjust rates closer to the event for maximum revenue.


Green jackets at the ready—it's Masters time in Augusta.


Golf enthusiasts from all over the world are arriving to witness the very best on the green in the 2024 Masters Tournament. Excitement is building up not only for the iconic golf action but also for the surge of guests that the event attracts each year, turning the local short-term rental market (STR) into a competition of its own.


We thought this would be the perfect time to tee up the data on how the Masters Tournament impacts the STR market in Augusta. What we’ll see is the incredible mark just a single event can have on an entire market dynamic. The data we'll explore will give you a better understanding of how marquee events can shape the market and impact your bottom line.

Plan your STR strategy based on real booking activity and trends—plus, see how things change year over year.

Each year, as the winter thaws to spring, Augusta National Golf Club's Magnolia Lane readies itself for an event steeped in tradition and prestige—the Masters Tournament. Since its inception in 1934, the Masters has become synonymous with excellence in the sport, a testament to the vision of its founders, Clifford Roberts and Bobby Jones. The tournament, with its coveted green jacket and exclusive field, has captured the imaginations of golf enthusiasts and been etched into the fabric of global sporting culture.

When the Masters comes to town, the typically tranquil Augusta undergoes a metamorphosis. The city swells with visitors from around the world, and the local economy enjoys a corresponding surge. Restaurants buzz with patrons, local attractions see a spike in tourism, and the streets are filled with a festive atmosphere, all thanks to the influx of golf fans. 

Perhaps the most significant economic swing is witnessed in the STR market. The Masters week has become a much-anticipated peak season, as vital to hosts' revenues as the event is to the sporting calendar.

Augusta STR Market Performance During the Masters Tournament

As the gates of the Augusta National Golf Club open to welcome the world's golfing elite, the city's STR market gears up for its busiest season. Let's dive into how this celebrated event reshapes the market each April.

Talk about a Peak: Listings and ADR During April in Augusta

The arrival of the Masters Tournament each spring is synonymous with a spike in STR demand, evident in both the number of listings and the average daily rates (ADRs).

In the years leading up to 2024, the data depicts a consistent pattern: as the Masters Tournament approaches, the number of STR listings in Augusta not only increases—it soars. For instance, in March, the number of listings might hover around the 2,000 mark, but by April, this number peaks dramatically, usually by double or even triple. This suggests a temporary yet substantial market expansion in response to the event.

Data from 2018 to 2023 reveals a marked impact of the Masters on Augusta's STR market. The ADR during April averages $441, starkly higher than the $242 average for all other months. Similarly, the average number of demand nights in April skyrockets to 20,554, nearly doubling the 11,038 average in other months.

A closer look at daily performance data around the Masters reveals an even more concentrated impact. ADR premiums have historically reached their height at the tournament's onset, reflecting a strategic opportunity for STR owners. This period, approximately ten days surrounding the tournament start date, represents a golden window where demand—and therefore pricing flexibility—hits its annual peak. 

In conclusion, the Masters Tournament prompts a swell in Augusta's STR listings, with opportunistic homeowners and investors eager to accommodate the annual surge of golf enthusiasts and the higher premiums they’re willing to pay. This spike in available rentals showcases the market’s adaptability and keen sense of opportunity, positioning the local STR economy for a profitable April.

Your vacation rental may be amazing, but is it better than your competition? Connect your Airbnb listing to AirDNA to see its Booking Performance Score

A Well-Oiled Machine of Supply: Occupancy Rates in Augusta

Despite the influx of visitors and the surge in listings, the city seems to have an impressive knack for maintaining equilibrium.

Occupancy Rates During the Masters Tournament 

Rather than displaying the dramatic spikes one might expect during such a high-profile event, the monthly fluctuation of Augusta's occupancy rates from January 2018 to March 2024 remains relatively even keel. What does that mean? Hosts in Augusta are a savvy bunch. 

The town is so well prepared for the Masters that it adjusts supply perfectly to meet demand. As you can see in the chart, the occupancy rates only display minor fluctuations, reflecting the natural ebb and flow of the market. 

There is not a dramatic spike in occupancy during April, the month of the Masters Tournament, despite the expected influx of visitors. This indicates that the Augusta community adjusts the number of available STR listings to effectively meet the increased demand without over-saturating the market.

What the Data Tells Us:  Consistency in occupancy rates is the hallmark of a market that doesn't just react to the seasonal surge but anticipates it. The supply of STRs is adjusted precisely so that occupancy rates during the Masters maintain equilibrium with the rest of the year. This suggests that with the right approach, there’s a way to navigate the waves of event-driven market fluctuations successfully.

The Masters isn't just a week of golf—it's a week that can make a year for many in Augusta. Early indicators of demand pacing for 2024 show it’s shaping up to be another great year. 

The chart below shows demand nights for the upcoming tournament are already surpassing those recorded in the same pre-tournament period in 2023. The most significant concentration of bookings occurs closest to the tournament's start date. This early surge suggests that Augusta's STR market is maintaining its allure, drawing in many guests who are locking in their accommodations well ahead of the tournament.

While the demand is pacing ahead, the ADRs for 2024 are lagging slightly behind the rates from the previous year. The first chart shows us that the peak ADRs for 2023 were consistently above $600, while for the same period leading up to the 2024 tournament, the ADRs hover just below this mark. This suggests that while the STR market is robust, the pricing power seen in the previous year isn't being fully realized yet.

However, this isn't the endgame. There's room for growth, especially when considering the trend of last-minute bookings. As the tournament nears, these ADRs may increase as latecomers scramble to find premium accommodations close to the Augusta National Golf Club. Historically, the final weeks before the tournament have seen a sharp rise in rates, and it’s possible that 2024 will follow suit.

In short, the STR market in Augusta appears poised for a performance similar to previous years. Last-minute booking trends could lead to even greater success if they follow historical patterns. Hosts who remain responsive to these market dynamics and adjust their offerings to cater to last-minute decision-makers could see significant returns.

What the Data Tells Us: The current gap between demand and current ADRs reflect a market poised for last-minute pricing adjustments. Responsive rate strategies are crucial for hosts in the lead-up to major events.

AirDNA’s vacation rental pricing tool uses data-driven recommendations to propose the best daily rates.

Seasonality on Full Display in Augusta’s STR Market

When the Masters swings into action in Augusta, it's not just the pros eyeing a win—local STR hosts are also looking to score big. This week of golf has evolved into a critical economic event for local hosts, many of whom depend on this seasonal peak for a substantial portion of their annual income. 

Navigating highly seasonal markets with precision can set you up for success in the STR industry. Here are essential strategies to help you make the most of the peak seasons:

Peak Planning: Timing is everything. Sync your rental calendar with the high tides of your market's demand, just as Augusta hosts do for the Masters.

Pricing Strategy: Capitalize on demand surges with a dynamic pricing model that leverages past market performance for future gains.

Efficient Operations: High season means full houses. Streamline your operations to deliver seamless guest experiences when your property is at full capacity.

Marketing Focus: Make your property the star of the season with targeted marketing that showcases what makes it the perfect stay during peak times.

Long-Term Perspective: A seasonal windfall is great, but a steady year-round strategy for off-season bookings ensures lasting profitability and a balanced business. 

While you may not don the coveted green jacket, with these insights, you're on course for something just as rewarding—a healthy, green bank account.

Keen to master the seasonality in your STR market? Tap into AirDNA's insights to chart seasonal trends, craft pricing strategies, and outplay the competition. 

Discover how the Masters Tournament takes Augusta's STR market from the back nine to the bottom line, driving a performance surge that hosts can capitalize on.

Airbnb Occupancy Rate: Insights and Tips

Key Takeaways
The Airbnb occupancy rate is a vital metric for success and is calculated by dividing the number of booked nights by the available nights. The occupancy rate reflects how often your property is rented out compared to its availability.
Understanding and monitoring your occupancy rate is key to maximizing earnings, as it indicates property performance and influences pricing and marketing strategies.
How you interpret your occupancy rate is essential; high and low occupancy rates don’t always mean what you think.

Successful Airbnb hosts are obsessed with bookings, and for good reason—it’s the name of the vacation rental game.

When hosts talk about Airbnb bookings, they're really talking about occupancy rate: the percentage of available nights that guests book. Monitoring your occupancy rate is important because it shows how well your Airbnb stacks up against the competition. The occupancy rate can also indicate whether you need to switch up your strategy or pricing to boost your rental income.

Whether you’re new to short-term vacation rentals or an industry expert, it’s important to understand the methodology and best practices behind your occupancy rate. 

Learn about short-term rental data

What is Airbnb Occupancy Rate?

In its simplest form, the occupancy rate is the percentage of time a vacation rental property is booked compared to the time it is available for bookings. 

To make understanding occupancy rate easier, let's use a straightforward example.

Imagine you own a cabin that's available for guests all year. That means it could potentially be booked for 365 nights. Throughout the year, guests book your cabin for 90 of those nights. We can use that number to calculate the occupancy rate and see how often your property was rented out compared to its availability. 

By dividing the booked nights (90) by the total available nights (365) and multiplying by 100 to get a percentage, we find an occupancy rate of approximately 25%. This means your cabin was rented out for about a quarter of the year.

Reasons Why Your Occupancy Rate Matters
Maximize Revenue Potential: Physical products can be sold at any time if they’re not immediately purchased. However, a vacant vacation rental represents a unique challenge. If a property goes unbooked for a night, it's impossible to "sell" that night again. Each unbooked night directly translates into a tangible loss of potential income. That’s why the occupancy rate is crucial for owners looking to maximize their earnings. 
Reveal Property Performance Insights: Consider two similar properties in the same location. Property A consistently achieves an 80% occupancy rate, while Property B struggles to reach 50%. This stark difference signals that Property A might be better aligned with guest preferences or have better marketing. Analyzing occupancy rates helps identify performance gaps and areas for improvement, whether that's improving your listing or adjusting pricing strategies to meet market demand.
Determine Market Demand and Inform Pricing Strategies: High Airbnb occupancy rates indicate strong market demand, while low occupancy rates can reflect lower demand. This information informs your pricing strategy. Let’s consider an apartment near a convention center that has high occupancy during events but low occupancy rates otherwise. This trend suggests that you may want to consider adjusting your rates in relation to the convention center’s event calendar. Dynamic pricing takes into consideration trends like this and uses them to optimize revenue during peak and off-peak times.
Guide Investment and Enhancement Decisions: Evaluate occupancy rates before and after making upgrades, like installing high-speed internet or renovating the kitchen, to assess the return on investment (ROI). This analysis is crucial for prioritizing property improvements that make your listing more appealing and, subsequently, improve the occupancy rate.

Learn about Dynamic Pricing

How to Calculate the Airbnb Occupancy Rate

Understanding the occupancy rate of your Airbnb property is pivotal for optimizing your rental strategy. Yet, it all comes down to a single equation.

Airbnb Occupancy Rate Calculation

Reserved Days / Available Days x 100 = Occupancy Rate

With that in mind, here's a simple guide on how to find Airbnb occupancy rates:

Step-by-Step Calculation
Determine the Total Number of Reserved Days: Start by counting how many days guests booked your property over a specific period of time, usually 12 months. 
Identify the Total Number of Available Days: Calculate the total days your property was available for booking over the same time period, excluding any days you blocked off for personal use.
Calculate the Occupancy Rate: Divide the total number of reserved days by the total number of available days, then multiply the result by 100 to convert it into a percentage. These steps represent AirDNA’s version of an Airbnb occupancy rate calculator.

Example Calculation:

Imagine you own a house on the water in North Carolina and you're evaluating its performance on Airbnb over the last 12 months. The property was available for 340 days and booked for 240 days within this timeframe.

Reserved Days: 240

Available Days: 340

Occupancy Rate Calculation: 240/340 x 100 = 70.58%

Calculate potential earnings

Understand the investment potential of any address in the world. 

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Interpreting Your Occupancy Rate

While a 70% occupancy rate may seem ideal, signaling guest satisfaction and consistent revenue, it's essential to delve deeper. High occupancy could indicate underpricing, meaning you might be missing out on potential income. It's crucial to balance occupancy with your average daily rates (ADRs) to maximize revenue. 

Think about it: A property with a 50% or 60% occupancy rate could earn more revenue than one that’s booked 70% of the time. It’s all relative to pricing. A property booked more often at $100 per night may not outearn a property that’s booked less often at $300 per night.

It’s important to ask yourself: Do I want higher occupancy or higher average daily rates (ADRs)? An accurate data tool can help you sort out which strategy is best for your bottom line. (Why guess when you can know exactly what you should be charging guests?)

What is a Good Airbnb Occupancy Rate?

Average Airbnb occupancy rates vary from market to market and year to year. You can see how the national average occupancy rate has fluctuated:

Trailing twelve months (TTM), March 2023 to February 2024: 55.1%
2023: 55.4%
2022: 58.6%
2021: 60.3%

The occupancy rate in 2022 reflects a recovery trend in the industry after the pandemic brought the average occupancy rate into the low fifties in 2020.

Determining a "good" rate is less about finding a universal number and more about understanding local market conditions, historical performance, and your personal goals for the property. Knowing your market's average helps inform decisions on pricing, marketing, and operations.

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Average Airbnb Occupancy Rates by City: Top 10 Highest Occupancy Rates

If you’re new to the short-term rental market, understanding the average airbnb occupancy rates by city can help you choose a location that’s likely to generate a healthy revenue.

These markets had the highest trailing twelve-month short-term occupancy rates (March 2023 to February 2024):

Kauai, Hawaii: 74.4%
Oahu, Hawaii: 73.4%
Maui, Hawaii: 72.4%
Maine DownEast/Acadia Coastal: 67.7%
Big Island, Hawaii: 67.1%
New York City: 65.5%
Denver: 65.3%
Anaheim, California: 65.2%
Boulder, Colorado: 64.3%
 Outer Banks, North Carolina: 64.3%

Many of the markets with the highest occupancy rates are located in Hawaii. However, seeing as the vacation rental market in Hawaii is subject to fairly heavy restrictions, let’s consider the markets with the highest occupancy rates in the contiguous U.S.

Maine DownEast/Acadia Coastal: 67.7%
New York City: 65.5%
Denver: 65.3%
Anaheim, California: 65.2%
Boulder, Colorado: 64.3%
Outer Banks, North Carolina: 64.3%
San Diego: 64.2%
Sarasota, Florida: 64.1%
Lincoln City/Newport, Oregon: 64%
Gatlinburg/Pigeon Forge, Tennessee: 63.9%

Average Occupancy Rates by City: Top 10 Lowest Occupancy Rates

The average Airbnb occupancy rates by city in the following areas leave hosts wanting more. These markets currently have the lowest trailing twelve-month occupancy rates:

Oxford, MS: 34.9%
Big Bear, CA: 39.6%
Southbend, Indiana: 40.4%
Texas East Area: 41.4%
College Station, Texas: 41.8%
Mississippi area: 42.1%
Augusta, Georgia/South Carolina: 42.8%
Pocono Mountains, Pennsylvania: 43.2%
California South area: 43.7%
 Louisiana area: 43.9%

If you’re looking to invest in vacation properties, avoid these markets because you likely won't get a good ROI. Property managers and hosts in these markets may need to lower their rates to encourage guests to book with them rather than other Airbnbs.

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Why Airbnb Occupancy Rates Differ from Hotels 

Hotels offer a consistent product and pricing strategy, but STRs vary widely in terms of property type, location, amenities, and host engagement. It’s crucial to assess STR occupancy differently than traditional hotel occupancy in order to accurately reflect performance in the vacation rental market.

AirDNA only considers active listings in its occupancy rate calculations, whether it’s for a specific market or when someone uses our Airbnb calculator. We define active as having at least one calendar day classified as reserved or available during the reporting period. If we included every available night from every available listing in our occupancy calculation, it would return a falsely low occupancy rate. This is due to variations in vacation rental host behaviors and motivations. We’re talking about host attentiveness in managing listing calendars and their responsiveness to reservation requests.

Here are three host cases that would falsely skew occupancy downward if we included them in the occupancy rate calculation: 

Event-Based Hosts: Hosts who list properties temporarily to take advantage of specific events, causing temporary market fluctuations that don’t reflect regular hosting activity.

"Make Me Move" Hosts: Hosts who set their prices significantly above the market rate, using Airbnb as an opportunistic platform rather than a committed hosting venue.

Dormant Listings: Properties that appear available but haven't seen a booking for months, often due to a shift in host priorities or property usage.

AirDNA ensures that its occupancy rate calculations reflect genuine market activity and trends by focusing on active listings. We stand by the accuracy of our data and use this methodology to help stakeholders understand the true dynamics of the STR market. Our insights are distinct from those that can be gleaned from hotel occupancy data.

How to Get High Occupancy on Airbnb

Occupancy rate may not be a complete picture of your property’s performance, but it’s still important. After all, you’re only making money if guests are staying at your property. If your occupancy rate is falling short of expectations, take these data-driven steps to learn how to increase occupancy rate on Airbnb. 

Increase Your Airbnb Occupancy Rate

Occupancy Rate is Just the Beginning  

According to ou annual best places to invest report, most of the destinations at the top of the list have occupancy rates of 60-70%. If you're interested to learn more about a market's occupancy rate, visit the AirDNA app.

While Airbnb occupancy rates are important, you need to track a range of metrics to assess how your Airbnb is performing overall. Our insights can help you optimize your properties for the best possible occupancy rate, average daily rate (ADR), revenue per available rental (RevPAR), and overall profitability.

Frequently Asked Questions:
What is a good occupancy rate for an Airbnb?

There is no universal “good" occupancy rate. Determining whether your occupancy rate is optimized requires understanding local market conditions, historical performance, and your personal goals for the property. Keep in mind that lower occupancy rates don’t necessarily indicate lost revenue. If you are charging a higher average daily rate, you might not need as many bookings to make as much money as a competitor with higher occupancy but a lower nightly rate.

Where can you see Airbnb occupancy rates?

You can see the occupancy rate for your listing as well as that of competitors in the area on your AirDNA dashboard. 

Find out what “Airbnb occupancy rate” refers to, how to calculate it, and tips for improving your occupancy rate and increasing your STR income.

The Masters Tournament Impact on STRs in Augusta

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