2022 will be a Record Year for US Short-Term Rentals
Summary
This article discusses the current state of the US short-term rental market in 2022, presenting mixed signals of growth and challenges, including economic uncertainty and increasing supply. Hosts should pay attention to these trends to better plan their business strategies. Additionally, the article dives into revenue management routines and CEO responsibilities in scaling a STR business.
Key Insights
- •Major rental markets are still at 90% occupancy despite rising gas prices.
- •2022 is predicted to be a record year for US short-term rentals, but the industry faces economic uncertainty and an increasing supply of STR units.
Action Items
- ✓Schedule revenue management, don't be reactive.Effort: lowImpact: medium
- ✓Identify the biggest bottlenecks in your STR business.Effort: mediumImpact: high
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
Tools & Resources
- →AirDNA: AirDNA is mentioned.
- →Freewyld Foundry: Freewyld Foundry is mentioned.(https://www.freewyldfoundry.com/)
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Curated by Learn STR by GoStudioM