Excerpt from PhocusWire
The U.S. short-term rental market has officially recovered demand above 2019 levels, a new report from AirDNA finds.
April 2021 marks the first month since the start of the coronavirus pandemic to surpass 2019 performance.
According to AirDNA, short-term rental demand increased by 66.4% in April compared to 2020 levels and 5.4% over 2019 levels.
Occupancy levels also built on the strength seen in March, notching up 61.6% in April from 60.9% in March. The trend is a deviation in traditional seasonality: Occupancy typically falls in April after the spring break rush in March.
In some U.S. markets – namely beach locations – demand for summer 2021 is already ahead of previous summers’ levels. As of early May, Santa Rosa/Rosemary Beach and Panama City in Florida and Hilton Head, South Carolina, are already more than 80% occupied for June. An additional seven U.S. markets are seeing occupancy levels above 75%.
While the U.S. saw short-term rental growth, other regions are trailing in recovery: In Mexico, demand was down 3.4%, however in Europe, demand in Italy, Spain and Germany was down more than 45% in April.
Improved performance in these regions is expected as vaccines roll out and more people plan for summer travel.
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