Europe’s short-term rental market is booming this summer, defying stricter regulations aimed at curbing its rapid growth. Even with licensing hurdles in many countries, the market in Europe is thriving.
12.07.2024 - 14:17 / skift.com / Myrtle Beach / Rashaad Jorden / Sarah Kopit
Travelers heading to destinations along the Atlantic coast for the Fourth of July weekend booked short-term rentals in large numbers. However, New York City didn’t see as many short-term rentals as it did last year for the holiday.
Editor-in-Chief Sarah Kopit and Head of Research Seth Borko discussed those topics and more in this episode of the Skift Travel Podcast with Jamie Lane, AirDNA’s chief economist.
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Increased Travel for July 4th: This year shows a significant increase in travel compared to last year due to the long weekend, with booking data indicating a 15% year-over-year increase. This suggests more people are traveling, booking short-term rentals, and participating in typical July 4th activities like grilling, swimming, and fireworks.
Short-Term Rental Trends: The short-term rental market is showing mixed results. While some traditional urban destinations are struggling, small to mid-sized cities and classic vacation spots are seeing strong demand. The overall supply growth is slowing, potentially leading to better occupancy rates and profitability in the future.
Impact of International Travel: International travel to the U.S. has not fully recovered, with East Coast cities faring better due to European travelers, while West Coast cities lag due to fewer Asian visitors. However, travel from India is a bright spot, significantly exceeding 2019 levels.
Platform Dynamics: Airbnb is outperforming Vrbo in terms of supply and bookings. Airbnb’s ability to attract new hosts and drive bookings, especially in small to mid-sized cities, has given it an edge. Vrbo, traditionally stronger in coastal and mountain markets, is facing challenges in growing its supply and bookings.
Unique Stays and Marketing Strategy: While unique stays (yurts, treehouses, etc.) only make up a small percentage of Airbnb’s listings, they play a significant role in marketing by capturing potential customers’ imaginations. This strategy, along with features like group messaging, is helping Airbnb increase app usage and attract a broader audience.
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
Europe’s short-term rental market is booming this summer, defying stricter regulations aimed at curbing its rapid growth. Even with licensing hurdles in many countries, the market in Europe is thriving.
Visitors to the upcoming Paris Olympics will soon have an easy way to save money on transportation. Uber, the popular rideshare app, will be offering an automatic 10 percent discount on rides for passengers from Paris airports between July 22 through Sept. 8. The discount applies to arrivals from both Paris Charles de Gaulle Airport (CDG) and Orly Airport Aéroport de Paris (ORY). Passengers can also save 30 percent if they use UberX Share within the city, as long as they are matched with another rider during the trip.
Delta Air Lines expects jets operating on most transatlantic routes will be equipped with fast, free Wi-Fi service by the end of this summer. However, it could be at least another year before the carrier completes the rollout of free internet to the rest of its fleet.
While athletes from around the world will flock to Paris later this month to go for gold at the Summer Olympics, this doesn't mean travelers are following suit and heading to the City of Light.
Boom launches the world’s first AI Sales Agent for the short-term rental sector, enhancing operational efficiency by autonomously handling inquiries and negotiations, allowing property managers to focus on strategic tasks.
Last-minute travel sites have traditionally gained ground during challenging economic times.
Jul 12, 2024 • 5 min read
2023 was the hottest year on record, and 2024 is shaping up to be a scorcher too, with temperature records being shattered from Nevada to North Carolina. However, many of the highest recorded temperatures in each state happened decades ago.
Multiple unions that represent workers at Parisian airports today jointly announced plans to strike on July 17, just days before the 2024 Paris Summer Olympics are set to commence, due to a dispute over staff bonus payments and working conditions.
Traveling to Paris for the Summer Olympics is not optional for Jeremy Fain.
The effects of Hurricane Beryl are already being felt in the tourist demand for Caribbean destinations, as indicated by the global travel intelligence platform Mabrian, part of The Data Appeal group, an effect that is evident both in the climate perception and in the short-term demand to travel to these destinations.
If you haven't booked a vacation yet this summer, it's not too late — and it doesn't have to drain your wallet like it has in prior years or even months.