2024 Summer in Review & What’s Ahead for Fall

In this episode of STR Data Lab, Jamie and Scott dig into the highs and lows of the summer season and give their predictions for what’s coming this fall.

They kick things off by talking about a 4% increase in RevPAR over the summer, even though nearly half of submarkets saw declines. Jamie and Scott remind us that local market trends are key to understanding the bigger picture. August was a standout month, with a 12% boost in demand, thanks in part to the timing of Labor Day. Jamie also highlights the strong growth in hotel demand and how it aligns with the ongoing rise of short-term rentals.

The conversation then moves to the impact of recent Fed rate cuts on the STR industry, especially when it comes to 30-year fixed mortgage rates. They also dig into the different challenges and opportunities for STR operators in urban versus rural markets. Looking ahead, they predict stable to slightly positive growth in occupancy for the rest of 2024. Plus, they touch on concerns around Airbnb’s stock performance and how it may not fully reflect the overall health of the industry.

The episode wraps up with a preview of upcoming events like VRMA and the Vacation Rental World Summit, along with an update from Jamie on his own short-term rental investment journey “Jamie’s Lane Change”, which you can also follow on AirDNA's YouTube channel.

You don’t want to miss this episode!

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https://app.airdna.co/data 

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Connect with Jamie on LinkedIn and Twitter: 

LinkedIn: https://www.linkedin.com/in/jamiehlane/ 

Twitter: https://twitter.com/Jamie_Lane 

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Connect with Scott on LinkedIn: 

LinkedIn: https://www.linkedin.com/in/sagescott

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Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:

LinkedIn: https://www.linkedin.com/company/airdna/  

Twitter: https://twitter.com/airdna 

TikTok: https://www.tiktok.com/@airdna.co 

Instagram: https://instagram.com/airdna.co 

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Find AirDNA at these upcoming events! 

https://www.airdna.co/events-airdna 

Episode 101