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    US Short-Term Rental Nightly Rates Push Even Higher in Record Summer

    AirDNA estimates that average daily rates for short-term rentals (STR) in the US climbed seven percent year-over-year this summer, a nearly 30 percent gain over the summer of 2019. AirDNA's mid-year 2022 outlook reported that US average daily rate growth is highest in urban and coastal regions. "As we look to summer 2022 (June-August), more STR nights have been booked than any other summer in history, as of the end of June," the report states. "The previous record was set just last year, and the US is currently seeing 12.3 percent more booked nights than at the same point in time in 2021." However, short-term rental demand in big cities this summer remains still 28.3 percent lower than in the summer of 2019. AirDNA also predicted that the US supply of short-term rentals would rise 21 percent year-over-year in 2022 as both Airbnb and Vrbo added to their listings. "With supply outpacing demand growth as expected, our outlook for occupancy is largely unchanged," AirDNA stated. "Our revised forecast now calls for US occupancy to average 58.2 percent for the year, slightly lower than our 59.8 percent forecast in October." Melanie Brown from Key Data Dashboard said US occupancy rates in the third quarter are currently at 39 percent, down from 45 percent last year.

    Skift.com (07/15/22) Dennis Schaal

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