Aspen sits in the mountain ski / luxury STR category — a market profile with specific seasonal patterns, guest expectations, and regulatory considerations. The restrictive STR regulatory environment shapes which acquisitions are workable.
Aspen, CO is a low short-term rental DSCR market. Property type: Mountain ski / luxury. Median home value approximately $3.3M. Average nightly rate: $1K.
Occupancy rate in Aspen averages approximately 55%, which combined with the nightly rate produces gross annual revenue per property of approximately $260K.
Aspen Colorado ultra-luxury ski STR. STR regulatory environment in Aspen: restrictive.
Aspen seasonality and tourism patterns
Tourist demand in Aspen tends toward multi-bedroom group bookings during ski season.
Aspen STR economics
Aspen STR cash flow math: $260K gross revenue minus operating costs of approximately $104K (cleaning, supplies, management, marketing, utilities) leaves roughly $156K for debt service and net cash flow.
Aspen specific FAQ
Aspen peaks December through March (ski season) with secondary summer. Lenders use annual averaged occupancy in underwriting.
Aspen guests prefer multi-bedroom ski groups. Hot tubs and ski storage command premium rates.
Aspen has restrictive STR regulations.
Aspen averages approximately 55% occupancy. Premium properties outperform; standard properties cluster near average.
Aspen averages approximately $1K per night. Premium units command 1.5-2.5x average.
Full-service STR management in Aspen runs 20-35% of gross revenue. Co-host arrangements run 15-25%. Self-management saves the fee but consumes 10-20 hours weekly.
A Aspen STR at the median home value of $3.3M typically requires 25-30% down, furniture and setup ($15K-50K), reserves (6-12 months PITIA), and closing costs. Total initial capital roughly $1.2M+.
Bottom line for Aspen STR investors
The investor profile that succeeds in Aspen STR combines local market knowledge or quality co-host management, realistic revenue projections using AirDNA data, and operational discipline. Get those right and Aspen STR produces strong risk-adjusted returns.
STR regulations vary by city and change frequently. Verify current local rules before acquisition.