Presented by Brand USA
In this episode of the Skift Travel podcast our hosts are joined by Jamie Lane, Chief Economist at AirDNA, to discuss the short-term rental industry’s outlook for Independence Day weekend. Lane notes that this year’s long weekend has boosted travel compared to last year, with bookings up 15% year-over-year due to last-minute planning.
The discussion reveals that popular destinations include coastal and lake areas such as Orlando, Myrtle Beach, and the Outer Banks, with a notable absence of urban locations. Lane explains that traditional vacation spots are performing well, while cities like New York have seen declines due to regulatory changes and reduced international travel, particularly from Asia. He also highlights the rise of mid-sized cities like Chattanooga and Lubbock as emerging markets for short-term rentals.
They also look at the impact of interest rates and hotel development in these growing areas, with Lane suggesting that high interest rates and cautious lenders have shifted demand towards short-term rentals. The hosts discuss the growth and professionalization of the short-term rental market, noting that large management companies are expanding, though individual hosts still dominate in guest satisfaction.
Follow all Skift coverage of short-term rentals at skift.com/vacation-rentals/
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Presented by Brand USA