bonavista vacation rental report data 2023

Bonavista Vacation Rental Market Highlights 2023

The Bonavista vacation rental market has certainly been heating up to the point of not only rental market growth, but calls for banning them all together. It’s an interesting place to be because it’s a lovely place to call home, but it highly depends on tourism and the tourists absolutely love it here.

We do work in the Bonavista market as of 2023 and are trying to break in more and learned a few interesting things after diving in to the data thanks to AirDNA. There is clearly a recovery in progress after the pandemic. In 2019, Newfoundland and Labrador welcomed over 500,000 non-resident visitors. Tourism here in Newfoundland & Labrador contributed approximately $1.14 billion to the provincial GDP

Image Courtesy: ArtBonavista

Bonavista allows access to so many incredible tourist activities like whale watching, iceberg viewing an tours, fishing, great cuisine and of course hiking, biking and all that. Its popularity is only growing as word has gotten out globally, especially with the likes of Ben Stiller hanging around.

A Little About The Bonavista Vacation Rental Market

The popularity of vacation rentals in Bonavista, Newfoundland, has soared in recent years, reflecting a growing trend in travelers seeking unique and personalized experiences. Nestled along the stunning coastlines and within charming historic neighborhoods, vacation rentals offer an authentic immersion into the local culture and natural beauty of this idyllic peninsula.

Unlike traditional accommodations, these rentals provide a sense of intimacy and comfort, often featuring quaint cottages or historic homes exuding character and charm.

Visitors relish the opportunity to wake up to breathtaking ocean views, enjoy the privacy of their own space, and often have direct access to nearby attractions and activities. With a diverse array of listings ranging from cozy cabins to spacious seaside villas, vacation rentals cater to a wide spectrum of travelers, from couples seeking a romantic retreat to families yearning for a memorable coastal getaway.

The allure of staying in a unique, handpicked property adds an extra layer of magic to the Bonavista experience, making vacation rentals an increasingly sought-after accommodation choice in this captivating Newfoundland destination.

A Slight Down Trend

According to AirDNA, occupancy rate in Bonavista is down 9 percent in the last year, and annual revenue is down -3% in the past year. The average daily rate for a rental only went down 1% though in the past year.

Knowing it was a bumper year for icebergs and whale watching and let’s not forget about Dickie Berg of course. That iceberg alone taught millions of people about Newfoundland and Labrador’s iceberg season and made a big impact. I believe next year is going to be a record breaking year for a lot of areas and the province overall.

The average daily rental rate was just shy of $206/night which is barely down 1% from the previous year and I will be interested to see if my earlier prediction of a banner year in Bonavista in 2024 due to Dickie Berg. Occupancy overall down as well but really the May to August months were on wheels and when I was there last month it was busy.

Owner revenue has also trended down slightly with a -3% change from last year, but nothing drastic. There’s more competition on the market and that most certainly played a role. While I don’t have any luxury rental property data on hand, from a few owners I know the year has been extremely good. Having a unique and or really nice property certainly makes a world of a difference.

I know a lot of folks were calling for the banning of AirBNB in Bonavista, but I don’t think that’s realistic as the town is kind of becoming a bit more well known along with all of NL in general.

It’s way too early to get data on tourist numbers at any point this year overall, but we can take a peek under the hood at Google and see what people have been up to. While the data from Google might not be 100% accurate, I can see worldwide search interest this year was a tad down compared to last.

Bonavista Newfoundland Search Trends

** Please note that these figures might have changed since 2021, and for the most up-to-date information, it’s recommended to refer to official Airbnb reports or other reliable sources for 100% accurate and up-to-date information on vacation rentals in Bonavista.

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