Recap of the STR Industry in 2022 (Ep532)
Summary
AI-generatedThis video recaps the 2022 short-term rental market, highlighting performance variations across US and global markets. It also provides insights into booking pace for 2023 and explains key metrics like RevPAR and Airbnb's total price display policy.
Key insights
While 2021 was a record year for many US short-term rental markets, 2022 saw a slight decrease in overall occupancy and ADRs compared to the previous year, though many markets still outperformed pre-pandemic levels.
Mistakes to avoid
Hosts should avoid using cleaning fees as a primary tool to disincentivize short stays, as Airbnb now offers specific settings to adjust pricing for one-night bookings.
Tools & resources
Direct Booking Strategies Bookbook
A book co-authored by industry experts covers direct booking strategies, including how to attract guests, build trust, and manage pricing and profitability compared to OTAs.
Frequently Asked Questions
Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial