When Sundance arrives in Boulder this January, residents will have to choose whether they want to kick off the new year by experiencing the fanfare or listing their home for festival lodging. For some homeowners, that could mean a significant payday, but setting the right price has proven a tricky task. Charge too little, and they could leave money on the table. Charge too much, and the eye-popping nightly rates could leave their listings empty. And perhaps the biggest question: Is it even worth handing over the keys to their house if it means missing Sundance’s inaugural year in Colorado?
Kuvy Ax, a Boulder-based public relations expert and Airbnb Superhost of 11 years, is still trying to decide. “I’m overwhelmed and don’t know what to do,” she says. “I’m in a world with lots of film friends. I’m in marketing. And I’m not hearing my people talking about attending. It’s almost like the benefits of going don’t outweigh the benefits of making that chunk [of money] all at once.”
Ax says a local real estate agent recommended pricing homes at $1,000 per room per night during Sundance. Visit Boulder, meanwhile, has recommended rates closer to $300 per room per night. The wide range illustrates the challenge homeowners face: Boulder has never hosted an event quite like this, so there isn’t much historical data to help them figure out what their homes are worth…