We’re now halfway through 2023, and over these past six months, we’ve already seen some exciting developments. From the introduction of cutting-edge tools and changes in regulations to attending the world’s best STR summits, it has been a period of growth for all.
But the tale continues! Judging by the industry headlines that have graced the month of June, we can expect the upcoming six months to be as equally as exciting, if not more. So, let’s take a look back at the month’s top stories, including eye-opening vacation rental industry reports, and evaluate what they mean for hosts.
AirDNA report forecast throws up a surprise or two
AirDNA unveiled their highly anticipated mid-year outlook report, with the findings even surprising themselves. The report reveals their initial expectations have doubled since the year’s inception, increasing their demand growth forecast to 10.4% for 2023 from 5.5%. The details of this captivating report also show that supply and occupancy are slowing down, but ADR (average daily rate) is doing better than expected.
You can read the full report here.
Are you looking to invest in a short-term rental business but don’t know where to start? Well, Airbnb has just unveiled an exciting list tailored specifically for aspiring hosts eager to enter the market.
For those seeking to capitalize on the booming market, the experts at Airbnb have revealed the U.S. cities with the best opportunities for investment based on the analysis of their own extensive data. Can you guess where they might be? Here’s a clue: Sevierville, Tennessee, is in the top 5.
To see the full list, you can check it out here.
Lodgify reveals the hottest secrets of the summer
Are bookings cheaper this year? How about shorter? Looking at over 740,000 bookings from internal data records, we’ve meticulously analyzed the booking patterns spanning from January 2021 to December 2023 with the aim of unveiling the pivotal shifts occurring in this summer’s U.S. short-term rental industry trends.
By focusing in particular on bookings made for the months of June, July, and August, as well as the Fourth of July and Labor Day Weekend, we’ve revealed insights and tips that every property manager should know.
To read and download the full report, click here.
Airbnb slams alleged host revenue ‘collapse’
Contrary to the viral tweet making rounds, which claimed a staggering 50% decline in revenue for property owners in select US cities, Airbnb has asserted that the demand for these sought-after accommodations remains robust.
“The data is not consistent with our own data,” said Sam Randall, an Airbnb spokesperson, “As we said during our first-quarter earnings, more guests are traveling on Airbnb than ever before, with nights and experiences booked growing 19% in the first quarter of 2023 compared to a year ago.”
We suggest gathering data from the many industry reports that have been released over the last few weeks to help give you a better picture of your business’ future. While certain statistics may not be as high as last year, it’s certainly not all doom and gloom.
Read more about the story here.
Lodgify recognized among elite in the top PMS list
We’re absolutely delighted to announce that Lodgify has secured a coveted spot on Skift’s highly acclaimed Short-Term Rental 250 list, recognizing us as one of the top providers of Property Management Systems (PMS) for the year 2023! This remarkable achievement underscores our commitment to excellence and solidifies our position as a leading player in the industry.
Congratulations to all the other companies on the list, and thank you to Skift for this recognition.
To see the full list, click here.
Booking.com unveils spectacular new campus
The renowned travel platform, Booking.com proudly unveiled its brand-new campus nestled in the heart of Amsterdam. This vibrant hub is set to become a bustling center of inspiration and collaboration, fueling the company’s vision to redefine the travel experience and leave an indelible mark on the industry.
Read more about the new campus here.
Until next time!
Well, we’ve already seen a few surprises in data reports throughout the industry; however, the remainder of 2023 looks positive on the whole, although there may be some bumps along the way.
If you have any questions on the topics discussed, please leave us a comment below!
Otherwise, stay tuned for July’s Lodgify Lowdown, where we’ll highlight the latest updates from the vacation rental industry.
Don’t see the form to download the Industry Report? Click here.
