Thursday, June 29, 2023
Short-Term Rental Report

Short-Term Rentals’ Sober Summer

  • Revenue per available listing in cities like Phoenix, Arizona and Orlando has dropped significantly, but the data is selective and doesn’t reflect Airbnb‘s international reach and growth in other markets.
  • The market for short-term rentals is normalizing, leading to a fall in occupancies and a decrease in demand, especially in popular tourism destinations like Hawaii and Rhode Island.
  • Despite the slowdown, the U.S. short-term rental market experienced an 11.9% increase in demand in May 2023 compared to the previous year, but occupancy levels were slightly lower than last year due to the faster growth of supply.

If you’ve seen a tweetstorm about the alleged “Airbnb collapse” and are wondering if the data seems too dramatic – you’re not alone, or even wrong.  Using what he said was AllTheRooms data, Reventure Consulting CEO Nick Gerli claimed that revenue per available listing in cities such as Phoenix, Arizona fell 47%, when considering 3-month […]