VRMA Administrator
AirDNA found Europe's short-term rental industry started to cool toward the end of the peak summer period, ending September with 39.2 million nights stayed, which is 22.9 percent more than last year, yet 1.7 percent less than in 2019. Europe's occupancy rate stood at 61.4 percent, a 2.7 percent gain over 2019, while available listings have continued to increase compared to last year without returning to pre-pandemic levels. Although average daily rates were still 25.3 percent above 2019, they were 0.1 percent lower relative to 2021 as bookings moved back to the largest cities with smaller unit sizes, which usually charge cheaper rates. Nine of the 20 leading European countries saw positive demand figures in August relative to 2019, but this fell to six in September. France was Europe's largest short-term rental market, with 66.4 percent of all its short-term rental listings concentrated outside of large cities. Winter bookings in Europe appear to be affected by energy shortage- and inflation-fueled economic headwinds. Demand for December to March is trending 15.7 percent below 2019, although this is 11.7 percent above 2021. Only Austria, Finland, and France are seeing winter bookings above 2019.
Travel Daily News (10/19/22) Tatiana Rokou
