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STR Consolidation & Hoteliers Underestimate Merging into STR’s

The question of consolidation comes back up in regards to the short-term/vacation rental sector of hospitality while in almost the same sentence, we’re seeing hoteliers and brands think that it would be easy for them to fully merge into the str/vacation rental sector based on their current standards within their properties.

Join us on Good Morning Hospitality as we share out insights and opinions on the above. Jump into the conversation with us since this is a live broadcast and we highly encourage audience engagement!

And make sure you’re properly caffeinated 😉 ☕️

Industry News: 

  • Kayak exits it’s hotel business but says they’ll still focus on tech (link)
  • Hospitality Vendors launching ChatGPT features/integrations (link)
  • OYO cuts IPO filing in half (link)
  • Airbnb looks at new revenue streams (link)

AirDNA’s Fact of the Week: 

Occupancy levels continue to decline throughout the U.S. for short-term rentals. In February, occupancy declined -1.8% YOY to 55.8%, but was still up 2.3% vs. 2019.  

Occupancy fell in 31 of the 50 largest short-term rental markets.Phoenix/Scottsdale, although the third-highest demand growth market with a growth rate of 60.3% YOY, had the largest drop in occupancy at -13.6% YOY. Phoenix/Scottsdale has been a top growth market in the past year, and undoubtedly, additional supply was motivated to become available as hosts attempted to take advantage of the Super Bowl. 

Show Notes: 

  • HFM Merch Store! 10% off for GMH listeners that use this link
  • TravelNet joins GMH as an official sponsor! Click this link to check out their special offer for our listeners!
  • AirDNA also joins GMH as a sponsor! Register for a free account, then search the market you want to purchase and enter the discount code: GMH20 at check-out!

Good Morning Hospitality is part of the Hospitality.FM podcast network and a Hospitality.FM Original.

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