Sevier county - Revenue down 22% this year

[Kyle Smith]

Hello everyone! I've noted a far steeper drop in revenue this year for my Gatlinburg cabin compared to the drop last year. I'm currently down 22% from 2024 and down a total of 35% from 2023. I'm still making money, so I'm okay, but it seems unbelievable how far it can drop and how fast the bottom is dropping. Where do we go from here? I'm thinking more drops in revenue for a couple more years. Hope I'm wrong, but everything I'm seeing is pointing to over supply of STRs in the area. We are also seeing hundreds of hotel rooms being added at the same time, and STR building permits are still strong in the area. And land prices for premium lots have doubled, and even tripled in some cases.

[Collin Hays]

I am a bit late to this thread, but our portfolio of cabins is all over the map, although EVERY property is down at least some from 2024.  My personal properties will finish off about 6% from 2024. But we managed some that are down as much as 70%!