Thermopolis tourism looks strong on paper, with lodging taxes and visitor spending on the rise.
But beneath those gains there is a fault line. The town’s short-term rentals — key overflow capacity when hotels fill up — are seeing demand dry up for peak summer months.
It’s been a painful sore spot for Thermopolis Airbnb owner Dale Clark.
Usually by now, Clark’s listing would have had more than 1,300 views, but this year he’s so far only had 230, very few of which have converted into bookings.
It was the same way last year as well following the closure of the Star Plunge, a popular water park-like attraction in Hot Springs State Park.
Clark has followed up with some of his regulars to ask them why they’re not planning their usual trips to Thermopolis. All of those conversations have referenced Star Plunge.
“The Star Plunge is the attraction,” Clark said he’s been told.
Like it or not, Clark added, he has to agree.
“I was in Wheatland a couple months ago negotiating a deal for some construction housing for one of my clients with an Airbnb there,” he said. “And I was talking with a couple and the guy says, ‘I guess you know Star Plunge is closed, so that’s why we haven’t gone.’”
Then the man said something else that made Clark’s heart sink.
“I know that some of our friends have said the same thing,” Clark recalled the man saying. “We know it’s closed, so we’re just not going up there.”
AirDNA Data Confirms Summer Slide
Clark's isn’t the only Airbnb that’s suffering. He’s used the short-term rental service’s calendar feature to look at what his competitors have available.
What he’s seeing suggests summer bookings will be down again for 2026 for many short-term rentals like his own.
Clark’s suspicions track well with data from industry analytics platform AirDNA. He took a look at what short-term rental occupancy looked like following Star Plunge’s closure in January 2024.
A chart shows significant demand destruction starting in June and continuing through August in 2025, with July down 15% and August down 20% year over year.
Bookings for short-term rentals got a bump in September and October, then plunged again starting in November and continuing through March.
April has shown a marked increase — likely thanks to Thermopolis’ world-class fishing, which has been on the rise and is a bright spot for the region’s tourism.
Clark was particularly grateful for the boost, even as he’s eyeing the summer months with concern.
“If we didn’t have the fishermen who come to Thermopolis in the spring, this would be a disaster,” Clark said. “But when you look at the calendar, you can see what’s booked and what’s not.
"There are some listings that have nothing in August like me … and some who have nothing in July. (Things) are still way off.”
Hot Springs State Park’s Other Pools Open
It’s a frustrating trend for Hot Springs Travel & Tourism Director Angie Guyon, who is also executive director for one of Thermopolis’ other main attractions, the Wyoming Dinosaur Center.
Thermopolis has a lot more going for it than any one single attraction in the Hot Springs State Park, she told Cowboy State Daily.
“We have the Dinosaur Center, we have the TePee Pools, we have the State Bath House,” she said. “We have the Hot Springs State Park itself, with the buffalo pasture and beautiful walking trails, biking trails, hiking trails. We have blue-ribbon fishing and whitewater rafting. We have the Petroglyphs and the Hot Springs Museum.
"There’s just a number of things that make Thermopolis a destination,” Guyon said. "It’s not just one pool.”
Thermopolis’ colorful, mineral-rich travertine terraces and steaming hot springs are a little slice of Yellowstone, Guyan added, but without the crowds.
And, just like Yellowstone, there’s even a buffalo herd and other wildlife to watch.
“The campaign that we’re currently running is we’re the family playground,” she said. “We’re trying to get a message out that we can be your base camp, and then you can explore Cody and Yellowstone and Jackson Hole and come back to the mineral water and relaxation and things like that in Thermopolis.”
Clark, himself, has leaned into similar messaging in ads he’s been running in Billings and Laurel in Montana, Gillette, Sheridan, Casper, Cheyenne, Rock Springs, and even Cody in Wyoming, and Fort Collins, Denver, and Fort Morgan in Colorado.
He credits Guyon’s efforts as well, and says he believes she’s doing a great job. But, he added, “The comments I’ve been getting back are never anything positive. It’s the Star Plunge is closed.”
Buyout Will Be Too Late For This Summer
Clark has been offering coupons to Hot Springs State Park’s other water-park-like attraction, Hellie’s TePee Pools and Spa, hoping that might persuade some of his regulars to give the alternative venue a try.
So far, that hasn’t gotten much traction.
A resolution is coming, Clark acknowledged. But not one that will be in time to save the summer season for his Airbnb or those owned by others.
There’s a buyout offer on the table for Star Plunge and for Hot Springs Hotel, and state money has been set aside to accomplish a deal for each property.
But first, the state needs an appraisal of the two properties. The request for proposals on the appraisal has a May 18 deadline, Wyoming State Parks & Cultural Resources Deputy Director Nick Neylon told Cowboy State Daily.
That will be reviewed by the attorney general, after which the selected entity would get up to 30 to 45 days to complete the work.
The appraisal could come in earlier than that, Neylon acknowledged, but he expects the earliest the appraisal would be completed is probably mid July.
“We’re following state guidelines and procurement guidelines,” he said. “We have to make sure we do everything by the book.”
Concurrently with that effort, the lawsuit between Wyoming and Star Plunge is continuing, Neylon said, with a trial date set for this fall.
The state is open to a third-party operator for the Star Plunge, Neylon added, as long as it’s not a family member or other entity closely connected to Star Plunge owner Roland Leuhne or his company, C & W Enterprises.
“What we’re asking for is to have a neutral party come in there and run the place,” he said. “And then there’s negotiations that would have to take place between C & W and whoever that is, because obviously C & W would want to be paid for use of the facilities.”
State, Owner At Odds As Reopening Drags On
Cheyenne attorney Matt Micheli, who is representing Luehne and Star Plunge, disputed any implication that his client has been unwilling to let a third-party run Star Plunge.
“We are happy to allow the group that won the RFP to open it up, and we’re happy to talk with them about terms of renting it from us until we get this resolved,” he said. “We’re happy to have a third party (run it).
"We’re willing to do any of those three things, but we can’t get anybody to engage and tell us which path, if any of the three, they’d like to go down.”
The pool could be reopened within a matter of days, Micheli added.
“I don’t understand why we can’t get it open,” he said. “There’s no reason for that pool to be closed right now. It just seems like, with government, things take longer than it should.
"And I get that, and I’m used to that, but we can have that pool open within a matter of days, if we could just get it going,” Micheli added.
That would alleviate any pressure on any segment of Hot Springs County tourism, he added, and is the solution he and his client are advocating for.
“What really makes me sad is that so many other people are hurting,” Micheli said. “And there’s no need for that, right?
"There’s no need for the town of Thermopolis and the restaurants and the hotels, there’s no need to have all those people struggle like this.”
Renée Jean can be reached at renee@cowboystatedaily.com.
