Through the various stages of the pandemic March 2020-2021, people still traveled and ventured out. Of those that did, short-term rentals were the most popular lodging option over hotels and primary residences of friends/family.
People are keen to make up for lost time, with 78% planning to travel at least once over the summer period.
After a year unlike any other, rest and relaxation are at the forefront of people’s minds this summer, with 26% of respondents planning a trip for this purpose. Being reunited with family and friends is also a big item on the agenda, with just under a quarter of respondents planning such a trip in the coming months. City breaks and trips to the beach are the destinations of choice this summer, with a break in the mountains also proving popular.
Lockdowns lifting, the vaccine rollout, and the ability to work from anywhere are all playing a major role in people’s decision-making. Location and pricing are the most important factors when booking accommodation - while people are also keeping a keen eye out for WiFi and air conditioning on the list of amenities.
While the vaccine rollout, lifting restrictions and decreasing COVID-19 infection rates have been welcome news for travelers, safety is still top of mind and they are looking for lodging options that reflect it.
As diverse as the STR industry is across owners and managers, combined, 75% of them use dynamic pricing for their properties. Dynamic pricing takes the guesswork out of pricing, and it is widely recognized as a core technology for the industry.
The short-term rental industry recognizes that industry data is very important when it comes to pricing property.
Property owners and managers have lots to choose from for listing their properties for their guests.
The pandemic has tremendously affected the short-term rental industry in very unequal ways. 13-months after the first lock-downs occurred, property owners and managers identified a mixed bag of affects.
Short-term rental owners and property managers are driven by ROI, and leveraging dynamic pricing is a direct pathway to it. 75% of property managers cite dynamic pricing as a deciding factor by property owners in choosing them to manage their properties.