Table of Contents
By: Brandon Cassagnol, Equity Residences Vice President of Portfolio Management
Written by: Bea Pablo, Writer
Understanding how Equity Residences’ luxury vacation homes are used by investors and renters throughout the year offers valuable insight into travel patterns, seasonality, and the benefits of portfolio diversification.
Equity Residences tracks performance across destinations to ensure investors enjoy seamless access to homes while maintaining strong operational consistency. The 2025 data highlights demand for different destinations and vacation types across the portfolio. Beyond operational insights, these trends provide strategic insights for investors seeking to understand demand cycles and optimize vacation planning or potential investment timing.
These insights also help investors plan future trips and better understand how different destinations contribute to overall portfolio balance.
Portfolio Occupancy Overview for 2025
In 2025, the Equity Residences portfolio achieved an average occupancy rate of 68% across all residences. This reflects both investor stays and rental bookings, providing a complete picture of how the portfolio is utilized.
Equity Residences 2025 occupancy rates by month showing seasonal trends, with peak occupancy at 84% in July and lowest at 49% in October.
Key highlights include:
- January-April: occupancy in the high 70% range
- July: the strongest month of the year at 84% occupancy
- September-November: occupancy dropped below 60%
The fall seasonal dip is largely influenced by reduced demand in beach destinations during hurricane season in the Caribbean, along with seasonal fluctuations in other tropical markets. Despite these shifts, overall occupancy remained stable due to the range of destinations included in the portfolio.
How Vacation Type Influences Travel Demand
Different types of vacation destinations experience demand at different times of the year.
Beach Destinations
Beach homes represent over 80% of the vacation options in the portfolio. As a result, they play a major role in overall occupancy performance. Demand for beach destinations is strongest during:
- Winter months, when travelers seek warm-weather escapes
- Summer vacation season, when school is out, and families travel more frequently
Like most coastal markets, the destinations in the Caribbean experience a predictable slowdown during hurricane season in September and October, which contributes to the portfolio’s lower occupancy during the fall. Costa Rica also experiences a slowdown in demand during September and October due to the rainy season.
Despite this seasonal shift, beach destinations remain some of the most popular experiences among Equity Residences investors, largely because of the wide variety of activities available for families and multi-generational travel. From ocean adventures and coastal dining to exploring nearby communities and cultural attractions, these destinations offer experiences that bring investors back year after year.
Along the Southern California coast, for example, our luxury villa at Terranea Resort offers an ideal setting for year – around travel. Families can spend their days kayaking along the cliffs, exploring scenic coastal trails, enjoying golf with ocean views, or simply relaxing by the water. Seasonal programming and outdoor activities make it a destination where every visit feels welcome.
Oceanfront luxury villa at Terranea Resort, where this Equity Residences villa overlooks the Pacific in Rancho Palos Verdes.
In the Caribbean, the experience is equally compelling. Crystal-clear water, world-class snorkeling and sailing, vibrant island culture, and exceptional dining create the kind of travel experiences that encourage repeat visits. Locations such as Thompson Cove in Turks and Caicos, Little Exuma, Bahamas, and Crocus Bay, Anguilla offer crystal-clear waters, snorkeling and sailing opportunities, and relaxed island communities that are ideal for families traveling together.
Further south, destinations like Belize combine Caribbean beaches with rich marine life and cultural experiences, giving travelers even more to explore. Many investors return year after year to enjoy the region’s relaxed pace and natural beauty. Our Caribbean guide highlights some of the destinations where these memorable experiences unfold.
Hawaii market remains the most consistent performer in the portfolio, with stable weather and easy flight accessibility supporting steady demand across all seasons, resulting in more balanced occupancy patterns compared with more seasonal destinations.
Destinations in Florida and Mexico experience moderate seasonality, with a noticeable slowdown in early fall before demand increases again during the winter travel season.
Costa Rica offers a different rhythm compared to the other destinations, offering coastline adventures with rainforest hikes, wildlife viewing, and even cultural activities. Demand softens in September and October during the rainy season, before picking up again as travelers return for warm-weather escapes later in the year.
A beachfront villa in Thompson Cove, Turks and Caicos, with a private pool and ample space suited for multi-generational family stays.
Mountain Destinations
Mountain homes follow classic seasonal travel patterns. Demand typically peaks during:
- Winter ski season
- Summer outdoor recreation months
Occupancy tends to soften in May and October, when ski operations are closed, and weather conditions are less predictable for outdoor activities. These seasonal cycles are consistent with mountain resort markets across North America. Destinations such as Big Sky, Vail, and Lake Tahoe attract visitors year-round, offering world-class skiing in the winter and hiking, mountain biking, fly fishing, and scenic outdoor experiences during the summer months.
Ski-in, ski-out luxury mountain home in Big Sky, boasting panoramic alpine views and a setting where families create unforgettable memories.
For a closer look at what makes one of these destinations so popular with travelers, explore our guide to our Mountain Destinations.
Lifestyle and Cultural Destinations
Lifestyle destinations in the portfolio, including residences in Barcelona and Siena, show consistent demand throughout the year. While destinations such as Mykonos tend to see stronger demand during warmer months, these European cities maintain steady travel demand across multiple seasons.
Urban European destinations tend to attract travelers interested in culture, history, cuisine, and architecture, which contributes to their more balanced year-round occupancy patterns.
Our future acquisitions for the Equity Euro Fund will be guided by the occupancy trends we are seeing in our existing European home portfolio. Occupancy trends inform cap rate calculations, which, in turn, affect investor returns on these homes.
How Travel Demand Patterns Guide Future Vacation Home Acquisitions
Analyzing travel demand across the portfolio does more than explain usage trends. It also helps guide how Equity Residences evaluates future destinations and acquisitions. Understanding which markets show consistent year-round demand versus strong seasonal demand helps Equity Residences identify opportunities to strengthen the portfolio’s balance.
For example, demand data across the European portfolio has shown strong investor interest in cultural destinations such as Barcelona and Siena. These cities attract travelers across multiple seasons due to their architecture, history, cuisine, and walkable city centers. As a result, Italy has emerged as a key target market for the Equity Euro Fund.
Within Italy, different destinations serve different strategic purposes. Cities such as Florence and Rome demonstrate travel demand patterns similar to Barcelona, with relatively steady visitation throughout the year driven by culture, business travel, and global tourism. Other destinations, such as Lake Como, exhibit more seasonal patterns, with peak demand during the warmer months, similar to destinations like Mykonos.
Beautiful view of Riva del Garda, Lake Garda, Italy–one of Europe’s most popular escapes, known for its scenic lake and picturesque towns.
Evaluating both types of markets allows Equity Residences to consider how new homes can complement the broader portfolio. Year-round destinations help provide stability in occupancy patterns, while seasonal destinations can capture strong peak demand during specific travel periods. These insights also influence financial modeling and capital allocation decisions when evaluating potential acquisitions. By understanding how travel demand behaves across regions and destination types, the team can assess how a new home might strengthen the overall portfolio and enhance travel opportunities for investors.
The Advantage of a Diversified Vacation Home Portfolio
One of the key insights from the 2025 data is the importance of destination diversification. Different vacation markets peak at different times of the year. Beach destinations perform well in winter and summer. Mountain resorts thrive during ski season and summer recreation months. European cultural destinations often see strong summer demand while maintaining year-round appeal.
By building a portfolio that includes a mix of beach, mountain, and lifestyle destinations across multiple regions, Equity Residences creates a more balanced pattern of travel opportunities throughout the year. This diversification helps smooth seasonal fluctuations and ensures investors have consistent access to exceptional vacation experiences across a range of destinations.
Looking Ahead
Travel patterns evolve over time, but the fundamentals remain consistent: different destinations attract travelers during different seasons. By carefully selecting homes across a range of regions and vacation types, Equity Residences continues to build a portfolio designed to perform well across the full travel calendar while delivering exceptional experiences for investors and their families.
These insights are also valuable for investors as they plan their future travel. Understanding seasonal demand across the portfolio helps families think ahead about where and when they would like to vacation in the coming years. Many investors carefully plan their trips in advance to secure their preferred destinations and travel dates.
During our recent Equity Platinum Fund 2 and Equity Euro Fund webinar, Greg Salley, Managing Director and Marina Salley, Head of Investor Relations, discussed how the reservation process works and how investors can reserve time in the homes each year. The system is designed to provide fair access across the portfolio while allowing investors to plan their vacations well in advance. As Equity Residences continue to monitor usage trends, these insights help guide future acquisitions and portfolio diversification strategies to ensure the portfolio remains aligned with how investors and their families prefer to travel while ensuring consistent access to exceptional vacation experience. If you are interested to learn more about our investment model, contact us at info@equityresidences.com.
Equity Residences 2025 Portfolio Occupancy FAQs
- What was the average occupancy across the Equity Residences portfolio in 2025?
The portfolio achieved an average occupancy rate of 68% across all residences, with peak demand during the first quarter and summer travel season.
- Which months saw the highest and lowest occupancy in 2025?
- Highest occupancy: July, reaching 84%
- Lowest occupancy: September–November, dipping below 60% due to seasonal slowdowns in beach and tropical destinations.
- How do different types of destinations impact occupancy trends?
- Beach homes: Strongest in winter and summer; softer during hurricane season (September–October).
- Mountain residences: Peak in winter ski season and summer; slower in May and October.
- Lifestyle/cultural destinations: Cities like Barcelona and Siena maintain steady year-round demand.
- Which regions demonstrated the most consistent demand?
Hawaii was the most stable performer year-round, while Florida and Mexico showed moderate seasonality. European cultural destinations had strong summer occupancy, and Caribbean/Costa Rica drove winter occupancy.
- How does destination diversification affect overall portfolio performance?
A mix of beach, mountain, and lifestyle destinations smooths seasonal fluctuations, ensuring investors have consistent access to travel experiences throughout the year.
- How can occupancy trends help investors plan family travel?
Understanding demand patterns helps investors secure preferred dates and plan vacations around peak and off-peak seasons for a more seamless experience. Our team is happy to assist with the reservation process and help coordinate travel plans across the portfolio. - Can investors book homes outside of their reserved weeks?
Yes. Unreserved homes or those that become available due to changes can often be booked through the partner portal on a first-come, first-served basis, offering flexibility beyond reserved weeks.
