Breaking the All-Time Demand Record with Paralee Walls

In this week's episode, Jamie sits down with Paralee Walls, the new co-host at STR Data Lab and the brand-new VP of Marketing for AirDNA. Before unpacking July's data, Paralee shares her excitement about her new role at AirDNA and her vision for leveraging data to enhance the lives of people across the industry.

July was not only a hot month in terms of temperature, but also in booking trends. The month set a new record for nights spent in short-term rentals across the US, with 35.4 million nights – a 9.4% increase from the previous record set in July 2022. Although demand remains robust, its acceleration is showing signs of slowing. The first half of the year saw a 12-15% surge in demand, but July marked the first month of single-digit growth, coming in at just under 10%. Additionally, occupancy dipped by 1.3% to 69.5%, and average daily rates declined by 1% year-over-year. Given the current interest rates, finding investment properties is becoming more and more challenging.

Internationally, demand is hitting record highs as travelers are increasingly willing to splurge on experiences and travel. However, travel to the US seems to be slowing, likely influenced by fluctuations in the US dollar. This trend is particularly impacting major metro cities and coastal areas that typically attract a significant volume of international visitors.

We also review our rankings for the top property management companies in the US and delve into what sets these managers apart.

You don’t want to miss this episode!

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July US Market Review:

https://www.airdna.co/blog/airdna-market-review-us-july-2023

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Best Airbnb Property Management Companies in the US for 2023:

https://www.airdna.co/blog/the-best-airbnb-property-management-services

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Signup for MarketMinder for FREE👇

https://www.airdna.co/vacation-rental-data/app/register

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Connect with Jamie on LinkedIn and Twitter:

LinkedIn: https://www.linkedin.com/in/jamiehlane/

Twitter: https://twitter.com/Jamie_Lane

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Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:

LinkedIn: https://www.linkedin.com/company/airdna/

Twitter: https://twitter.com/airdna

TikTok: https://www.tiktok.com/@airdna.co

Instagram: https://instagram.com/airdna.co

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Find AirDNA at these upcoming events!

https://www.airdna.co/events-airdna

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Tech that Puts the Customer First with Marcus Rader

In this week's episode, Jamie sits down with Marcus Rader, the Founder and CEO of Hostaway. Hostaway is a vacation rental software company that’s on the path to becoming the platform with the biggest market share in our industry.

Back in 2015, before the STR boom happened, Marcus saw us heading in this direction. He noticed homeowners sitting on properties, only using them for a few weeks out of the year, and not capitalizing on them — so he decided to dedicate his career to helping STR owners.

The majority of the tech in the industry was created by people within the industry, but with no experience in tech — and that’s where Hostaway is different. It was created by people who started in the tech space and know exactly what it takes to build a tech platform. Their 150 staff members pride themselves on putting the customer first, and their motto is that they’ll only build something if they can build it better than someone else. That’s how they differentiate themselves from the competition. With the industry constantly changing its rules, regulations, and ways to operate your business, Hostaway is continuously finding ways to improve their user experience and help owners thrive in this industry.

Jamie and Marcus discuss where Marcus sees the market today, as well as where he believes we’re headed for the rest of the decade.

You don’t want to miss this episode!

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https://www.hostaway.com/

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Signup for MarketMinder for FREE👇

https://www.airdna.co/vacation-rental-data/app/register

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Connect with Jamie on LinkedIn and Twitter:

LinkedIn: https://www.linkedin.com/in/jamiehlane/

Twitter: https://twitter.com/Jamie_Lane

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