Salida and Buena Vista STR Market Report for Independent Hosts

Thomas Garner
Jul 24
19 min read

Updated: 14 hours ago

If you do not already hold a short-term rental license in Salida or Buena Vista, Colorado, read this carefully before you get excited about the Arkansas River view from the deck: as of mid-2026, you likely cannot legally get one. Buena Vista is not accepting, processing, or approving any new STR applications at all , a town-wide moratorium has been in effect since January 13, 2026, and it runs at minimum through September 30, 2026. Buena Vista's out-of-county license pool, capped at 119 units, is completely full, with a waitlist behind it. Salida's residential-zone pool, capped at 85 licenses, sits inside a broader municipal licensing structure that has been actively tightened, not loosened, in ordinance revisions passed earlier this year. And the entire unincorporated stretch of Chaffee County surrounding both towns has operated under its own hard ceiling , 310 licenses, or 6 percent of the county's housing stock, whichever is lower , since 2021.

This is not a market report about opportunity. It is a market report about scarcity, and about what that scarcity means if you already hold, or are in a position to acquire, one of a fixed and shrinking number of legal operating rights in one of Colorado's most geographically stacked outdoor-recreation corridors. Salida and Buena Vista sell on Arkansas River whitewater, Collegiate Peaks fourteeners, two of the state's most-visited hot springs, and a ski hill on the Continental Divide , all within a 20-minute drive of each other. The demand case is real, and the supply case is the opposite of real. Anyone researching "Salida CO Airbnb rules" or "Buena Vista STR moratorium" in 2026 needs the regulatory picture first, because it determines whether anything else in this report applies to you.

The Regulatory Reality: Three Overlapping Caps, One Active Freeze

Chaffee County's short-term rental supply is not governed by a single rule. It is governed by three separate, geographically stacked licensing regimes, and an operator's options depend entirely on which jurisdiction their property sits inside. This ordinance also builds in a residency preference: Chaffee County residents are moved ahead of out-of-county applicants on any waitlist, and out-of-county owners must hold a property as a long-term rental for three years before they become eligible to apply for an STR license at all.

Unincorporated Chaffee County, the rural land outside Salida's and Buena Vista's town limits , has capped total STR licenses at 310 per year, or 6 percent of the county's total residential housing stock, whichever figure is lower, under Ordinance 2021-002. This ordinance also builds in a residency preference: Chaffee County residents are moved ahead of out-of-county applicants on any waitlist, and out-of-county owners must hold a property as a long-term rental for three years before they become eligible to apply for an STR license at all. We could not independently verify a current, dated 2026 utilization figure for this specific unincorporated-county pool , the most recent published breakdown we could confirm was several years old , so treat the 310 ceiling as a hard structural fact, but confirm current availability directly with Chaffee County Community Planning (str@chaffeecounty.org) before assuming a slot is open.

The City of Salidaruns its own separate cap system, broken out by zone district: 85 licenses in the R1, R2, R3, AG, and Planned Development residential zones; 99 in the Mixed-Use Downtown zone; 50 in the combined Mixed-Use Highway and Mixed-Use Center zones; and 75 in the Mixed-Use Neighborhood zone , roughly 309 licenses citywide across all four zone categories. Salida City Council passed Ordinance 2026-06 on second reading on February 17, 2026, effective March 23, 2026. Read the fine print before treating this as a loosening: the ordinance converts the existing zone-based caps to the city's newly restructured zone districts with no material increase to license counts, removes the owner-residency requirement specifically in the Mixed-Use Center zone, and opens the application window year-round instead of restricting it to the old May 1-June 1 filing period. None of that adds new supply. It reorganizes access to the same fixed supply. We were not able to confirm a precise, current, publicly reported utilization percentage for Salida's 85-license residential pool specifically , city staff had not published a real-time dashboard figure as of this writing , so any operator evaluating Salida should call the City Clerk's office () for the live count rather than rely on a stale published number.

The Town of Buena Vistais the tightest and most time-sensitive piece of this puzzle, and it is also where the picture has moved fastest. Buena Vista licenses are split into an out-of-county pool, capped at 119 units, and an in-county pool for residents renting a non-primary residence, capped at 30 units , frozen there by a Board of Trustees ordinance passed 3-2 on September 2, 2025. (Note: Buena Vista's code technically allows for an in-county pool as large as 59 licenses, calculated as 3 percent of the town's housing stock , but trustees deliberately chose not to open the pool to that full theoretical ceiling. 59 is a number the town could have used and didn't; 30 is the actual enacted cap, and it's the only figure that reflects how many licenses genuinely exist in that pool.) As of the most recent published count from the Chaffee County Times, all 119 out-of-county licenses were in use, with six applicants sitting on a waitlist , five of them owners who purchased homes in 2025 and applied within a month of closing, underscoring how quickly the out-of-county pool fills. The in-county non-primary-residence pool told a different story: only about 19 of the 30 available licenses were in use, leaving roughly 11 slots , a little over a third of the pool , still open. That same ordinance added a two-year ownership requirement before an out-of-county owner can apply, and it barred any new out-of-county licenses in the R-1 and R1-OT residential zones outright.

Then, on top of all of that, Buena Vista's Board of Trustees adopted Emergency Ordinance No. 01 on January 13, 2026, imposing a town-wide moratorium on the acceptance, processing, and approval of any new STR license applications , out-of-county or in-county, any zone. The moratorium runs through at least September 30, 2026, while a trustee-appointed policy workgroup reviews the town's entire STR framework. Trustees have been explicit in public meetings that this is not intended as a permanent ban and that the goal is a policy review, not a predetermined outcome; we want to flag that as a correction to any framing that presents a permanent cap as already decided. What is decided is the freeze itself: through at least the end of Q3 2026, Buena Vista is issuing zero new STR licenses of any kind.

That policy review is active and unresolved as of this writing. A seven-member trustee-appointed Workgroup presented policy recommendations to the Board of Trustees at a public meeting on July 14, 2026 , but no outcome, vote, or board decision from that meeting had been publicly reported as of July 16, 2026, the most recent date we checked. We are not going to speculate about what the Board decided at or after that meeting. The honest framing is that Buena Vista's STR policy direction is an active, closely-watched review with the outcome still pending , anyone making a decision that depends on it should check buenavistaco.gov's Board of Trustees meeting minutes directly for the current status before acting.

What This Means: An Existing-License-Holder Opportunity, Full Stop

Put plainly: through at least September 2026, Salida and Buena Vista are not a market you can enter from scratch. Buena Vista's front door is bolted shut by an emergency moratorium. Its out-of-county pool was already full before the moratorium hit. Salida's caps are static, and its most recent ordinance reorganized rather than expanded access. The one soft spot in the entire system , Buena Vista's under-utilized in-county non-primary-residence pool , is only available to owners who already live in Chaffee County, which narrows it out of reach for most prospective out-of-area investors reading a market report like this one.

That leaves two groups this report actually applies to. First, operators who already hold a valid STR license in Salida, unincorporated Chaffee County, or one of Buena Vista's two license categories , for you, the capped supply is the opportunity, because every listing that exits the pool (a sale, a non-renewal, an owner who stops operating) permanently tightens an already-fixed ceiling, and demand is not capped at all. Second, Chaffee County residents converting a non-primary residence in Buena Vista still have real room inside that 30-license pool. Everyone else , and we mean this as directly as the brief for this report demanded , should treat Salida and Buena Vista as a market to watch, not a market to buy into, until the moratorium lifts and Chaffee County's cap-utilization numbers are re-published with real dates attached.

The Demand Side: Why the Caps Exist in the First Place

None of this scarcity is accidental or arbitrary. Salida and Buena Vista sit inside one of the most concentrated outdoor-recreation stacks in Colorado, and that concentration is exactly why local governments moved to cap supply before short-term rentals could out-compete the local housing stock. If you do not already hold a short-term rental license in Salida or Buena Vista, Colorado, read this carefully before you get excited about the Arkansas River view from the deck: as of mid-2026, you likely cannot legally get one.

Arkansas River Whitewater

The Arkansas River corridor between Buena Vista and Salida runs directly through. Salida and Buena Vista sell on Arkansas River whitewater, Collegiate Peaks fourteeners, two of the state's most-visited hot springs, and a ski hill on the Continental Divide , all within a 20-minute drive of each other. Buena Vista is a smaller, more river-adjacent town, laid out closer to the Arkansas River put-ins and outfitter row than to any historic commercial core , its identity leans harder into whitewater and mountaineering logistics than into arts-district tourism.

Browns Canyon National Monument, a roughly 22,000-acre stretch of granite canyon designated a national monument by President Obama in 2015. Browns Canyon's Class III water is widely cited as the single most-rafted whitewater run in Colorado, drawing commercial and private boaters through a river corridor that outfitters in both towns run trips on daily through the summer season. Immediately upstream of Browns Canyon sitsThe Numbers, a technical, continuous stretch of Class IV whitewater named for six sequential rapids mapped out along the run , a serious step up in difficulty that draws a more advanced rafting and kayaking clientele than the Browns Canyon run below it. This is not incidental scenery; it is the primary demand engine for Buena Vista in particular, where outfitters, put-ins, and river-adjacent lodging define the town's whole visitor economy.

The Collegiate Peaks

West of Buena Vista, the Sawatch Range rises into theCollegiate Peaks, a cluster of nine fourteeners, five of which carry university names: Mount Harvard (14,420 feet, the highest of the group and the first to be named after a school), Mount Yale, Mount Princeton, Mount Columbia, and Mount Oxford. Mount Yale and Mount Princeton in particular are popular entry points for fourteener hikers , both rated Class 2, both accessible from trailheads a short drive from Buena Vista , which makes the town a staging base for a peak-bagging visitor segment that books multi-night stays around a single summit attempt, plus recovery days.

Hot Springs and Shoulder-Season Demand

Recovery is not incidental to this market either , it is a distinct, named demand driver.Mount Princeton Hot Springs Resort, in Nathrop between Buena Vista and Salida, is the largest hot springs facility in Chaffee County, open daily with no reservation required, and functions as a mainstream, family-friendly soaking destination.Cottonwood Hot Springs, closer to Buena Vista, is smaller, more rustic, and open year-round with pools ranging roughly 94-110°F. Together, these two properties extend the visitor season well past the summer rafting peak and the fall hiking window , soaking demand does not depend on river flows or snowpack, and it pulls guests into the shoulder months that would otherwise be dead weeks for STR occupancy.

Monarch Mountain and Winter

Twenty miles west of Salida on US Highway 50, at the top of Monarch Pass on the Continental Divide,Monarch Mountainhas operated since 1939 on 100 percent natural snowfall , no snowmaking infrastructure , averaging over 350 inches a year across 800 skiable acres and 63 trails, with a notably high share of expert terrain accessed via a short hike to Mirkwood Bowl. Monarch is a genuine winter demand driver for Salida specifically, positioning the town as a ski-adjacent base without the price inflation of Colorado's I-70 resort corridor.

Salida vs. Buena Vista: Two Different Markets, Not One

Treating Salida and Buena Vista as a single submarket understates how differently they perform and how differently they read to a guest. The practical read: Buena Vista runs hotter occupancy and a higher revenue ceiling than Salida across both data sources, almost certainly because its out-of-county license pool being completely full has kept its listing count artificially constrained relative to demand , exactly the dynamic that makes an existing Buena Vista license valuable.

Salidais built around a genuine historic downtown and an active arts district , galleries, a walkable Front Street commercial core along the river, and a town identity that markets itself on culture and craft as much as on the river. Airbnb performance data for 2026 puts Salida's average daily rate around $293 (AirROI), with occupancy near 39.1 percent, average annual revenue near $35,339 per listing, and RevPAR around $122. Top-decile Salida properties command $464 or more per night, with the market's top-quartile properties clearing roughly $352 and the median listing around $259. Salida's active listing count sits near 350, with supply having grown about 5.1 percent over the prior year. A secondary data source (AirDNA's Market Minder) puts Salida's occupancy noticeably higher, near 52 percent, with an ADR around $266 and monthly revenue near $34,255 , a meaningful gap from AirROI's numbers that reflects how much source-to-source variance exists in this market. Treat Salida's realistic ADR band as roughly $266-293 depending on which platform's methodology you're citing, and always state the source alongside any figure you use.

Buena Vista is a smaller, more river-adjacent town, laid out closer to the Arkansas River put-ins and outfitter row than to any historic commercial core , its identity leans harder into whitewater and mountaineering logistics than into arts-district tourism. Buena Vista's 2026 Airbnb data shows a higher average daily rate than Salida's, around $298 (AirROI), with occupancy running somewhat hotter , roughly 43.0 percent , average annual revenue near $34,255 per listing, and RevPAR around $128. A secondary data source (AirDNA's Market Minder) put Buena Vista's occupancy even higher, near 52 percent, with an ADR around $286 and monthly revenue near $35,339 , the range between sources puts Buena Vista's realistic ADR band at roughly $286-298. Top-decile Buena Vista properties reach $499 or more per night, the highest ceiling recorded in either town, with top-quartile properties around $355 and the median near $259.

Buena Vista's booking window runs long , guests book roughly 62 days out on average , and its peak season is tightly clustered in June, July, and August, tied directly to peak river flows, with January, February, and April as the softest stretch. (All of the ADR, occupancy, and revenue figures above come from rolling 12-month datasets that update monthly , expect them to drift somewhat by the time you're reading this; re-check the live AirROI and AirDNA pages before using a specific number in an investment decision.).

The practical read: Buena Vista runs hotter occupancy and a higher revenue ceiling than Salida across both data sources, almost certainly because its out-of-county license pool being completely full has kept its listing count artificially constrained relative to demand , exactly the dynamic that makes an existing Buena Vista license valuable. Salida runs a broader, more diversified demand base (arts, dining, Monarch skiing, plus the river) at somewhat lower occupancy.

The Property Management Landscape

Neither town has been captured by a national vacation rental brand. Property management in Salida and Buena Vista remains fragmented among small local and regional operators , outfits like BNL Property Management, Grand View Property Management, and Escape to the Mountains Property Management, each typically run by a husband-and-wife team or a small local staff rather than a venture-backed national platform. For an existing license holder, that fragmentation is an opening: there is no dominant incumbent locking up direct-booking demand or SEO visibility for "Arkansas River rafting vacation rental" or "Collegiate Peaks short-term rental" searches. A licensed operator who builds a real direct-booking brand around river access, fourteener staging, or hot-springs proximity is competing against small shops, not an entrenched platform player.

What Existing License Holders Should Actually Do

If you hold a license in Salida, unincorporated Chaffee County, or either Buena Vista pool, the strategic picture is straightforward: your license is now a scarcer asset than it was a year ago, and it will likely be scarcer still by the time Buena Vista's moratorium resolves in the fall. That argues for investing in the listing itself , direct-booking infrastructure, search visibility built around the specific demand drivers above, and positioning that separates a Browns Canyon put-in property from a Collegiate Peaks trailhead property from a Monarch ski-season property , rather than treating the listing as commodity inventory competing on price inside an OTA search result. In a capped market, the operators who win are the ones guests can find and book directly, because there is no wave of new competing supply to out-market; there is only a fixed pool of licensed competitors, and a fragmented, mostly-unbranded field of property managers around you.

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Frequently Asked Questions

Can I get a new short-term rental license in Buena Vista, Colorado right now?

Buena Vista's Board of Trustees adopted an emergency moratorium on January 13, 2026, halting the acceptance, processing, and approval of all new STR license applications town-wide. The moratorium runs through at least September 30, 2026, while trustees complete a full policy review. A trustee-appointed Workgroup presented recommendations at a July 14, 2026 Board meeting, but no outcome had been publicly reported as of this writing , check Buena Vista Co.gov's Board of Trustees minutes for the current status.

Is Buena Vista's out-of-county STR license pool full?

Buena Vista caps out-of-county STR licenses at 119 units, and as of the most recent published count, all 119 were issued, with six applicants on a waitlist , most of them owners who purchased in 2025 and applied almost immediately. 59 is a number the town could have used and didn't; 30 is the actual enacted cap, and it's the only figure that reflects how many licenses genuinely exist in that pool.) As of the most recent published count from the Chaffee County Times, all 119 out-of-county licenses were in use, with six applicants sitting on.

Are there any open STR license slots in Buena Vista at all?

The one meaningful opening is in Buena Vista's separate in-county pool, capped at 30 licenses for Chaffee County residents renting a non-primary residence , only about 19 of those 30 were in use as of the most recent count, leaving roughly 11 slots open. (The town's code technically allows for a pool as large as 59 licenses, but trustees froze it at 30 rather than opening it to that full ceiling , 30 is the real, enacted cap.) That pool is not available to owners who live outside Chaffee County, and the town-wide moratorium currently freezes.

What is Salida's short-term rental license cap?

Salida caps STR licenses by zone: 85 in its residential zones (R1, R2, R3, AG, and Planned Development), 99 in its Mixed-Use Downtown zone, 50 in its combined Mixed-Use Highway/Mixed-Use Center zones, and 75 in its Mixed-Use Neighborhood zone , roughly 309 licenses citywide. Ordinance 2026-06, effective March 23, 2026, reorganized these caps into new zone districts without materially changing the totals.

Does Chaffee County have its own separate STR cap outside Salida and Buena Vista?

Unincorporated Chaffee County , land outside both towns' limits , caps STR licenses at 310 per year, or 6 percent of total housing stock, whichever is lower, under a 2021 ordinance. This cap is separate from, and does not affect, the municipal caps inside Salida or Buena Vista. Unincorporated Chaffee County , the rural land outside Salida's and Buena Vista's town limits , has capped total STR licenses at 310 per year, or 6 percent of the county's total residential housing stock, whichever figure is lower, under Ordinance 2021-002.

What is the average daily rate for a short-term rental in Salida vs. Buena Vista?

2026 data puts Salida's ADR at roughly $266-293 depending on the source (AirDNA vs. AirROI), with occupancy in the 39-52 percent range, and Buena Vista's ADR at roughly $286-298 with occupancy running somewhat higher, in the 43-52 percent range. Buena Vista's top-performing properties reach the highest ceiling of the two markets, at $499 or more per night.

What draws visitors to Salida and Buena Vista?

The primary drivers are Arkansas River whitewater rafting through Browns Canyon National Monument and the more technical Numbers section; the Collegiate Peaks fourteener cluster, including Mount Harvard, Mount Yale, and Mount Princeton; Mount Princeton and Cottonwood hot springs, which extend demand into the shoulder seasons; and Monarch Mountain, a natural-snow ski area on Monarch Pass that drives winter demand centered on Salida.

Should I buy a short-term rental in Salida or Buena Vista right now expecting to operate it as an STR?

Not unless you already hold, or can immediately qualify for, a valid STR license under an open pool. Buena Vista's out-of-county pool is full, and its entire licensing process is frozen through at least September 2026. Salida's zone caps are static. Treat this as a market for existing license holders to strengthen their operations, not a market to enter from scratch in 2026.

About the Authors

Crest & Cove Creative is a short-term rental marketing agency founded by Thomas Garner and Jacob Mishalanie. We build direct-booking brands, listing optimization systems, and market-specific content strategies for independent STR operators nationwide, including emerging corridors like Salida and Buena Vista, Colorado. Salida and Buena Vista sit inside one of the most concentrated outdoor-recreation stacks in Colorado, and that concentration is exactly why local governments moved to cap supply before short-term rentals could out-compete the local housing stock.

Sources

Chaffee County Short Term Rentals (STR) Rules and Regulations , Mark Krasnow, Realtor, confirms unincorporated Chaffee County's 310-license (or 6% of housing stock) cap under Ordinance 2021-002, residency-preference waitlist rules, and the three-year long-term-rental requirement for out-of-county applicants. Current 2026 utilization for this specific pool could not be independently confirmed with a dated figure; verify live counts directly with Chaffee County Community Planning.
Short Term Rentals , City of Salida, COand related coverage of Ordinance 2026-06 , confirms Salida's zone-based caps (85 residential; 99 Mixed-Use Downtown; 50 combined Mixed-Use Highway/Mixed-Use Center; 75 Mixed-Use Neighborhood , roughly 309 total), the February 17, 2026 second-reading passage, and the March 23, 2026 effective date. A precise, current, dated utilization percentage for Salida's 85-license residential pool could not be independently verified as of this writing; a widely-circulated "62% issued" figure could not be traced to a citable source and is deliberately omitted here.
Buena Vista Board caps out-of-county rental licenses , Chaffee County Times, source for the 119-license out-of-county cap being fully issued with a six-applicant waitlist, and the separate in-county non-primary-residence pool showing roughly 19 licenses in use against an actual enacted cap of 30 (11 remaining) , not the 59-license theoretical ceiling sometimes cited elsewhere.
Updated Short Term Rental (STR) Licensing Information , Mark Krasnow, RealtorandBuena Vista Municipal Code, Short-Term Rental Ordinance, Chapter 6 (09/09/2025), confirm the September 2, 2025 ordinance (passed 3-2, Trustees Rowe and Sturm dissenting) that froze Buena Vista's in-county non-primary-residence pool at 30 licenses , distinct from the town's theoretical 59-license ceiling (3% of housing stock) that trustees chose not to fully use , and added the two-year ownership requirement plus the R-1/R1-OT out-of-county restriction.
Short-Term Rental , Buena Vista, CO Official Website, confirms Emergency Ordinance No. 01, adopted January 13, 2026, imposing a town-wide moratorium on new STR license applications; this is also the page readers should check directly, alongside the town's Board of Trustees meeting minutes, for the current status of the STR policy Workgroup's recommendations.
Buena Vista Trustees Pass Temporary Short Term Rental License Moratorium , Ark Valley Voice, confirms the moratorium runs through September 2026, describes the trustee-appointed policy workgroup, and quotes trustees framing the pause as temporary and evaluative rather than a predetermined move to a permanent ban or cap.Correction to brief:the brief characterized this as the town "moving toward permanent caps" , public trustee statements as reported do not confirm that outcome is decided; we present the moratorium and existing numeric caps as verified fact and treat any "permanent cap" trajectory as an open policy question, not a confirmed outcome.
BV Trustees to Consider Short-Term Rental Committee Recommendations , Ark Valley Voice, confirms the seven-member Workgroup presented non-binding recommendations to the Board of Trustees at a July 14, 2026 work session. No published source as of July 16, 2026 (the most recent date checked) reports an outcome, vote, or board decision from that meeting; this post deliberately does not speculate about what was decided and directs readers to buenavistaco.gov's Board of Trustees minutes for the current status.
Salida, Colorado Airbnb Data 2026 , AirROI, source for Salida's ~$293 ADR, ~39.1% occupancy, ~$35,339 average annual revenue, ~$122 RevPAR, top-decile $464+, top-quartile $352+, median $259, 348 listings (AirROI Salida as of 2026-07-31), and 5.1% year-over-year supply growth. This is a rolling 12-month dataset that updates monthly; figures will drift over time and should be re-checked against the live page.
Buena Vista, Colorado Airbnb Data 2026 , AirROI, source for Buena Vista's ~$298 ADR, ~43.0% occupancy, ~$34,255 average annual revenue, ~$128 RevPAR, top-decile $499+, top-quartile $355+, median $259, and the ~62-day average booking window. Same rolling-dataset caveat applies.
Buena Vista, Colorado , AirDNA Market Minder, secondary source showing Buena Vista occupancy near 52% and ADR near $286, used here to establish the $286-298 ADR range cited in the brief.
Salida, Colorado , AirDNA Market Minder, secondary source showing Salida occupancy near 52% and ADR near $266, used here to establish the $266-293 ADR range cited in the brief.
The Numbers , American WhitewaterandBrowns Canyon whitewater rafting overviews, confirm Browns Canyon National Monument's 2015 designation and roughly 22,000-acre size, its Class III rating and status as Colorado's most-rafted stretch, and The Numbers as a distinct, more technical Class IV run immediately upstream, named for six sequential rapids.
Colorado Collegiate Peaks 14ers guide , The Next SummitandMount Yale , Wikipedia, confirm the nine-peak Collegiate cluster in the Sawatch Range, the five university-named summits (Harvard, Yale, Princeton, Columbia, Oxford), and Mount Harvard's 14,420-foot elevation as the group's highest point.
Mount Princeton Hot Springs ResortandBuena Vista hot springs overview , The Next Summit, confirm Mount Princeton Hot Springs as the largest hot springs facility in Chaffee County, its Nathrop location between Buena Vista and Salida, and Cottonwood Hot Springs as a smaller, year-round, 94-110°F alternative.
Monarch Mountain (ski area) , Wikipedia) , confirms Monarch's 1939 opening, location 20 miles west of Salida on US Highway 50 at Monarch Pass, 100% natural snowfall, 350+ inches average annual snowfall, 800 skiable acres, 63 trails, and Mirkwood Bowl's expert terrain access.
Local property management landscape (BNL Property Management, Grand View Property Management, Escape to the Mountains Property Management) confirmed via direct business listings , supports the characterization of Salida and Buena Vista's property management field as fragmented among small local and regional operators rather than dominated by a national brand.

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