Recap of the STR Industry in 2022
Summary
This article recaps the STR industry in 2022 and discusses the importance of revenue management. It covers key metrics like RevPAR and how they evolved compared to 2021, along with the impact of Airbnb's pricing changes and future booking trends. Hosts should understand these metrics and consider analyzing their portfolio using tools like PriceLabs to stay ahead of the competition.
Key Insights
- •How to calculate RevPAR and why it’s an important metric for STR hosts to understand.
- •STRs in Europe had stronger numbers in 2022 compared to 2021.
- •General occupancy, daily rate, and length of stay all went down in 2022.
Action Items
- ✓Understand RevPAR and how to calculate it for your properties.Effort: lowImpact: medium
- ✓Analyze your portfolio and outperform the competition.Effort: mediumImpact: medium
Tools & Resources
- →PriceLabs: PriceLabs
- →PriceLabs’ Market Dashboard: PriceLabs’ Market Dashboard
- →PriceLabs’ Portfolio Analytics: PriceLabs’ Portfolio Analytics
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