Forget BNBBUST, We’re Going All-In on STRs (Ep539)
Summary
This podcast episode discusses the current state of the short-term rental market, addressing the #BNBBUST trend and offering insights on navigating market fluctuations. Hosts are encouraged to focus on building unique hospitality brands to thrive in 2023 and beyond.
Key Insights
- •The maturing STR market requires hosts to move beyond 'list-it-and-forget-it' strategies.
- •The article suggests that a slight downturn in the short-term rental market does not necessarily indicate a bubble burst.
Action Items
- ✓Consider developing a unique hospitality brand to differentiate your listings.Effort: mediumImpact: medium
Tools & Resources
- →STR Profit Academy: The episode mentions the STR Profit Academy.
Common Mistakes
- ⚠The episode warns against allowing doubt to dictate decision-making in your Airbnb business.
More from Getting Started
This article from GreekReporter.com reports that Greece is climbing the European short-term rental rankings. While specific details on the rise are not provided in this short article, this suggests a growing opportunity for hosts. It implies increased demand in the Greek market, which presents a dynamic opportunity for STR investors.
Ennismore plans to expand its hotel presence in India, with its first hotel under the Morgans Originals brand, Roswyn, already soft-opened in Mumbai. Following the Mumbai debut, the company plans to open a Hoxton hotel in Bengaluru and is actively exploring further expansion opportunities, recognizing the market's readiness for a luxury lifestyle product.
The short-term rental market's growth is slowing, according to eKathimerini.com. This shift may affect occupancy rates and revenue for hosts. Understanding market trends is crucial for adapting pricing and marketing strategies, ensuring continued profitability.
Curated by Learn STR by GoStudioM