Barcelona: All-in-one vacation rental software company Lodgify has released its 2021 industry report, analysing and offering insights about the latest trends and changes for vacation rentals in the United States.
Having accrued more than 340,000 bookings from across the United States, Lodgify analysed the 2019-2021 vacation rental market to date and what the upcoming season is projected to look like. Its in-house data showed recovery to pre-Covid numbers for some markers and other findings that indicate growing optimism for the vacation rental industry.
Lodgify found that from 2019 to September, guests have increased their length of stay by 6.2 per cent. With a slight dip during Covid, trips are now growing increasingly longer and have even maintained a steady upward trend dating back to the beginning of 2019.
There was also much debate over which had fared better during the pandemic out of rural and urban accommodations.
For 2021, rural accommodations had a 12 per cent lead over urban stays in terms of number of nights booked. Urban accommodations still hold a higher occupancy rate than their rural counterparts, but countryside vacation rentals have shown a promising increase, according to Lodgify.
The occupancy rates for rural accommodations rose by seven per cent for the 2021 peak season when compared to 2020’s peak season. Just within the summer months, rural occupancy rates rose by 3.5 per cent.
Findings also show that the value of vacation rentals is going up, with average daily rates [ADRs] steadily rising since 2019. Lodgify found that vacation rental owners experienced a 31 per cent increase in ADR when comparing the summer of 2019 to the summer of 2021.
The full report covers other insights, such as mid-length stays, performance based on individual states, and booking windows.
Follow this link to read the full US 2021 Vacation Rental Industry Report by Lodgify.