Lodgify Recaps Summer 2024 for Short-Term Rentals in America

9/25/2024

According to Lodgify's seasonal data-driven report for U.S. short-term rentals in summer 2024, the vacation rental platform for independent hosts and property managers found summer occupancy rates increased by an average of 2.9 percent, with the highest year-over-year growth reported in August. This summer, average daily rates (ADR) rose 3.5 percent to $366 from $354 in 2023. Year-over-year ADR rose 13.6 percent for camping and glamping rentals, which was the highest increase among all property types. Thirty percent of bookings were made within a week of the guest's arrival date, making last-minute bookings still the norm. Average length of stay (ALOS) was unchanged year-over-year, except for camping and glamping ALOS, which was up 12 percent, and hotels and resorts ALOS, which increased 14.2 percent. Houses and Villas ALOS fell 2.7 percent. The most popular holiday for bookings was Fourth of July weekend, which had 3 percent more bookings than Memorial Day weekend and 1.9 percent more than Labor Day weekend.

Travel Daily News (09/19/24) Theodore Koumelis