:
US: Short-term rental revenue per available rental is pacing ahead of last year across the remainder of 2026, with occupancy contributing more to growth ahead of the holiday season, according to KeyData.
The company’s Q4 US Index shows on-the-books RevPAR eight per cent ahead for October, 11 per cent for November and 10 per cent for December.
Occupancy is pacing two per cent higher in October, six per cent in November and 12 per cent in December.
Average daily rates remain six per cent ahead for October and four per cent higher for November. However, December ADR is currently two per cent lower at $473, compared with $481 last year.
The increase in December occupancy is therefore more than offsetting the reduction in rates, following a year in which STR revenue growth was primarily driven by pricing.
Finalised third-quarter data also showed a strong September. Paid occupancy increased by 13 per cent year-on-year, while ADR rose by 10 per cent to $276 and RevPAR grew by 24 per cent to $91.
July recorded an 11 per cent increase in RevPAR, followed by growth of two per cent in August.
STR RevPAR increased across every US region during the third quarter, ranging from six per cent in Hawaii to 16 per cent in the Mid-Atlantic. The Midwest recorded 15 per cent growth, while New England achieved 12 per cent despite a decline in occupancy.
Short-term rental RevPAR also grew faster than hotel RevPAR in all seven regions where figures for both accommodation types were available. The widest difference was recorded in the Mid-Atlantic, where STR RevPAR increased by 16 per cent compared with five per cent for hotels.
Sally Henry, vice president of market intelligence and insights at KeyData, said: “Pricing carried much of the growth earlier this year, but we’re now seeing demand take on a bigger role, particularly as we head towards December.”
The Index tracks anonymised reservation data covering 1.3 million short-term rental properties across all 50 US states. The forward figures reflect bookings recorded as of 4 October and will continue to change as the arrival dates approach.
Highlights
- US STR RevPAR is pacing ahead for every remaining month of 2026.
- November RevPAR is currently 11 per cent ahead of last year.
- December occupancy is pacing 12 per cent higher.
- December ADR is two per cent lower at $473.
- September RevPAR increased by 24 per cent year-on-year.
- STR RevPAR grew faster than hotel RevPAR in all comparable US regions.
- The Index covers 1.3 million properties across all 50 states.
