Spain: Vacation rental data provider Transparent has partnered with channel manager Rentals United to launch the Global Vacation Rental Survey 2022 to track the global short-term rental recovery shift.
In the wake of the pandemic, short-term rentals are seeing a light at the end of the tunnel. With countries largely keeping restrictions to a minimum, and pent-up demand pushing some much needed lifeblood into the industry, property managers are beginning to breathe more freely and reassess the current reality.
Through the global short-term rental recovery shift, demand is looking a little different, and getting to grips with the new demand reality has never been more critical to a property manager’s success.
Transparent has shared its latest trends and is inviting industry professionals to be a part of the Global Vacation Rental Survey 2022, made up of 75+ pages of actionable data insights and trends in pricing, growth, operations, technology and sentiment, to help guide them through the new look, new year.
Short-term rental bookings are recovering, as the data below shows:
While North America [largely due to fewer and much less stringent, coordinated restrictions] is leading the race – with reservations currently in excess of the same period of 2019 – Europe is now only 17 per cent down on 2019 levels.
What’s more, booking revenues are up; largely as a result of global ADR [average daily rate] rising dramatically through 2021 [below] and length of stay persisting at higher than pre-pandemic levels.
This increase is also down to operational factors, such as cleaning fees, and largely a shift in demand – what guests are booking and when they are booking it. Booking windows have been polarised as guests either book well in advance or very last minute, and they are tending to choose larger houses over smaller apartments.
The changes mean that understanding demand across segments and reacting effectively is critical to property managers’ revenue.
In an attempt to bring more clarity and insight to current trends in the industry, Transparent has teamed up with Rentals United to present a comprehensive vacation rental property manager survey to get answers from the property managers on the frontline.
Click on this link to fill out the survey and access the full report.