What the Best Short-Term Rental Experts Told Us Yesterday

06.06.2024 - 11:23 / skift.com / Rashaad Jorden / Jane Alexander / Jennifer Hsieh

Good morning from Skift. It’s Thursday, June 6. Here’s what you need to know about the business of travel today.

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Booking.com is targeting U.S. travelers to tap into the increasing demand for short-term rentals, writes Reporter Christiana Sciaudone. 

Eric Bergaglia, Booking.com’s vice president of Homes & Growth Segments, said at the Skift Short-Term Rental Summit that the company needs to be more U.S.-centric in how it develops products. Sciaudone reports Booking.com is focusing on in particular payments, liability insurance, damage policy to appeal to American consumers.  

Bergaglia said that U.S. consumers aren’t as aware of Booking.com as those in other markets worldwide are.  

Next, population shifts across the U.S. could drive vacation rental growth in certain markets, writes Reporter Elizabeth Casolo. 

AirDNA Chief Economist Jamie Lane said at the Skift Short-Term Rental Summit that the “mass exodus” of people from certain locations would impact where guests stay. Lane said that would result in people vacationing in entirely different markets, with Casolo citing Texas and Florida as states that have seen population growth. 

Lane added AirDNA had identified up-and-coming hot spots for vacation rentals. The four highest ranked destinations AirDNA listed were all in Texas. 

Finally, Marriott Bonvoy’s Homes & Villas unit is seeing a surge in international reservations — especially in non-traditional destinations, writes Travel Experiences Reporter Jesse Chase-Lubitz. 

International reservations are 38% of the unit’s total — up from 14% in 2021, according to Vice President Jennifer Hsieh. While Hseih said Italy, France, and Spain remain popular for guests, she added Marriott is seeing booking jumps in destinations such as Curaçao and the Greek island of Paros. Homes & Villas’ international listings have jumped 39% in the past year. 

Hsieh also addressed the matter of standardization. She said travelers aren’t looking for standardization in the home product design — instead they’re focused on consistency in cleanliness, safety and security. 

Producer/Presenter: Jane Alexander