6/11/2023 0 Comments Airdna competitors![]() ![]() Luxury properties have been experiencing higher occupancy rates each year since 2018, with a significant spike in 2021. Historically, luxury properties have tallied lower occupancy rates versus other property types, but that appears to be changing. Luxury properties are experiencing occupancy growth. Thoughtful interior design can increase both occupancy rates and average daily rates (ADRs).ģ. But if you do manage one-bedroom rentals, there’s still a lot you can do to make a small space live large. If your rentals have multiple bedrooms, you’re already ahead of your one-bedroom competitors. Whether guests are traveling in groups or want a dedicated office while on the road, managing an Airbnb in 2022 means maximizing space. Only 27.3% of all rentals booked in 2021 had one room, while 24.4% of bookings were for two-room rentals, and a whopping 38.8% of bookings included three bedrooms or more. The average STR booking included 2.3 rooms in 2021, compared to 2.1 rooms in 2019. In short, travelers are booking larger properties than they used to. In 2022, everything is bigger-and we’re not just talking about gas prices. (MarketMinder’s Smart Rates pricing tool helps you the price with confidence by shedding light on what your competitors are charging for properties similar to yours.)Ģ. Now is an ideal time to optimize your Airbnb pricing strategy because your guests are likely comfortable with higher rates than you might expect. Old STR wisdom may tempt you to drop your rates for mid-week stays-but that could mean leaving money on the table. Demand for Tuesday night stays grew 5% from 2019 to 2021 Wednesdays came in a close second, followed by Mondays and Thursdays. Although travelers do still turn up for the weekend, weekday stays are in increasingly high demand. STR guests aren’t just weekend warriors anymore. Weekday bookings are more popular than ever. It also revealed five Airbnb trends hosts need to capitalize on in order to maximize their STR revenue-and their guests’ experiences-during the sunny months ahead as follows:ġ. In its latest Market Review, the AirDNA research team highlighted continued signs of short-term rental (STR) growth while also cautioning against the possible influence of inflation and high gas prices. Expedia CEO Peter Kern predicted that summer 2022 will be the busiest travel season ever, AirDNA reports.
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