Short-Term Rental Demand Is Up
Skift Take
- The DJIA ended the day down 280 points while Nasdaq was down 67, the S&P 500fell 31 points and the 10 year treasury yield was up .02 to 3.13%. Lodging stocks were lower. MCG fell -8% today and hit a new all time low. SOND was up 5%.
- STR said U.S. hotel RevPAR for the week ending August 27th was up 18.2%. RevPAR versus the same week in 2019 was up 12.1%.
- Speaking during a session at the Hotel Data Conference, AirDNA Director of Product Max Bernstein said as of June 2022, demand for short-term rentals is up 21% indexed to 2019
The DJIA ended the day down 280 points while Nasdaq was down 67, the S&P 500fell 31 points and the 10 year treasury yield was up .02 to 3.13%. Lodging stocks were lower. MCG fell -8% today and hit a new all time low. SOND was up 5%.
STR said U.S. hotel RevPAR for the week ending August 27 was up 18.2%. RevPAR versus the same week in 2019 was up 12.1%.
Speaking during a session at the Hotel Data Conference, AirDNA Director of Product Max Bernstein said as of June 2022, demand for short-term rentals is up 21% indexed to 2019, while hotel demand is down -3.4%. The rental demand is largely coming from small city/rural markets. STR found that rental demand increased the most in markets with under 5,000 hotel rooms. June 2022 year-to-date data indexed to 2019 also shows that for everyone one home rental sold across all location and market types in 2019, nine hotel rooms
