Unraveling Unique Hospitality Niches with Michael Golden

In Episode 63 of STR Data Lab, Jamie Lane, Chief Economist at AirDNA, is joined by Michael Goldin, co-host of Good Morning Hospitality and an experienced professional in the hospitality industry. Michael shares his journey in the vacation rental industry, from his beginnings at Rented and NoiseAware to his current roles as Co-Founder of Nook and Storied Collection and advisor to various companies. His focus is on exploring unique hospitality niches.

Michael discusses the creation of 'Storied', a co-branded collection of Castle and Manor homes offering luxury retreat experiences. He describes Storied Collective as a soft brand company, similar in scale to hard brands like Marriott and Hyatt, but with more autonomy for its properties. Their aim is to bring professional hospitality to markets that previously lacked it. In the past year, they have added 12-14 properties to their portfolio and are actively expanding.

Michael also delves into his latest venture, 'Nook', a high-end outdoor hospitality brand that provides luxury experiences in nature. He offers his perspective on the merging of the hotel and short-term rental industries and discusses the impact of branding on niche categories, ultimately enhancing the traveler experience.

You don’t want to miss this episode!

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https://storiedcollection.com/

https://www.linkedin.com/in/michaelgoldin1

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https://app.airdna.co/data

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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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A Reflection on 2023 and a Look Ahead to 2024 with Bram Gallagher

In this edition of the STR Data Lab podcast, Jamie Lane, chief economist at AirDNA, is joined by Bram Gallagher, fellow economist at AirDNA, to discuss the year-end numbers for 2023 in the U.S. short-term rental industry. They analyze the December figures, noting a 4.3% increase in demand compared to the same month last year, with supply growth cooling down to 10.8%. The occupancy rate settled around 49.9%, reflecting a return to pre-COVID levels. The Average Daily Rate slightly improved, signaling pricing adjustments amid changing occupancy.

The conversation delves into the supply dynamics in the STR market, exploring the impact of new listings and regulations. Gallagher expresses confidence in the forecast for a 10.9% increase in supply for 2024, emphasizing the industry's adaptability to changes in demand. The discussion also touches on the broader economic landscape, considering factors such as the Federal Reserve's monetary policy and its potential effects on interest rates. Gallagher anticipates a more conservative approach to rate cuts in 2024, aligning with the strong economic indicators.

The podcast concludes with insights into the international travel sector, identifying it as a growth area for 2024. The conversation highlights opportunities for the STR industry to cater to international travelers, particularly in urban locations. Overall, the podcast provides a comprehensive overview of key trends and factors shaping the STR market and its intersection with the broader economy.

You don’t want to miss this episode!

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https://www.airdna.co/outlook-report-2024

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Signup for AirDNA for FREE👇

https://app.airdna.co/data

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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: