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Business PlansAugust U.S. Market Review with Paralee Walls
In this week's episode, Jamie sits down with Paralee Walls, co-host at STR Data Lab and VP of Marketing for AirDNA. Before diving into the August data, Paralee unpacks her Oktoberfest experience in Munich, which Jamie reveals saw a 30% surge in demand and a 20% increase in ADRs compared to last year.
Although August sits squarely in the peak of summer travel, demand didn't sizzle as much as in July. We witnessed another month of declines: RevPAR dipped by 4%, and occupancy fell by 4.2%, reaching 60.4%. This marks the first time since July 2020 that we've dipped below past occupancy levels. However, Jamie notes that external factors, like the Maui fires and the hurricane in Florida, caused some travelers to adjust their plans, potentially skewing the data. Excluding those areas, we're still ahead of 2019 figures. Nevertheless, growth rates are showing signs of slowing—from 9.5% in July to 9% in August, when Maui and Florida are left out of the equation.
Despite these trends, Jamie points out that there is no significant decline in fall bookings. On the international front, demand remains strong, but inbound U.S. travel seems to be tapering off, likely influenced by the U.S. dollar and metro-area regulations. While New York has seen a 77% drop in short-term listings due to new regulations, the city has experienced a 58% uptick in long-term stays, indicating that properties aren't going off the market.
You don't want to miss this episode!
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August US Market Review:
https://www.airdna.co/blog/airdna-market-review-us-august-2023
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Signup for AirDNA for FREE👇
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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!
Up Next:
Celebrating One Year of STR Data Lab with Paralee Walls
In this milestone episode, Jamie Lane sits down with co-host Paralee Walls, VP of Marketing at AirDNA, to celebrate the first anniversary of STR Data Lab. To celebrate, we've curated a special journey through the top 12 key industry topics that have captivated our audience over the past year.
We kick off by revisiting the origins of the podcast, before debunking the widely circulated "Airbnbust" narrative. We also unpack the looming recession talk, and spotlight AirDNA's innovative new products along with the game-changing acquisition of Arrivalist. Our discussion then shifts to landmark events shaping our sector—from the introduction of NYC regulations and changes in cleaning fees due to customer feedback, to the noticeable decrease in investments driven by rising interest rates.
Jamie caps off this special episode by laying out his predictions for what the landscape could look like in the year ahead.
This isn't just another episode—it's a celebration of a year of insights, dialogue, and transformation in the short-term rental space. Trust us, you won't want to miss it!
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Signup for AirDNA for FREE👇
~~~~
Connect with Jamie on LinkedIn and Twitter:
LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
~~~~
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!