Recap of the STR Industry in 2022

As COVID restrictions eased, 2021 proved to be a record year for most short-term rental markets. But did the trend continue in 2022?   Which markets performed better this year? Which markets got softer?   And what can Airbnb hosts expect in 2023?   On this episode of Get Paid for Your Pad, guest cohost Anurag Verma, Cofounder of PriceLabs, joins me for a recap of the short-term rental industry in 2022, explaining how this year’s numbers compared to 2021 in various markets in the US and around the globe.   Anurag describes how to calculate RevPAR and why it’s an important metric for STR hosts to understand, and we discuss why Airbnb’s new total price display policy was a positive change overall.   Listen in for Anurag’s insight on the current pace of bookings for 2023 and learn how PriceLabs free market reports can help you analyze your portfolio and outperform the competition—no matter what’s happening in the market!  Topics Covered

How COVID continues to impact STR markets in some parts of the worldWhat the data says about how 2022 compared to 2021 for the short-term rental industryHow Airbnbs in cities performed in 2022 relative to drive-to destinationsWhy general occupancy, daily rate and length of stay all went down in 2022How to calculate RevPAR and why it’s an important metric for STR hosts to understandWhy Airbnb’s new total price display policy was a positive change overallWhat hosts can do to incentivize longer stays without charging a pricey cleaning feeWhy guests may be holding off on booking for summer 2023 (and why you shouldn’t lower your prices just yet)Why STRs in Europe had stronger numbers in 2022 compared to 2021The free market report functionalities available to hosts on the PriceLabs platformThe improvements to the pricing algorithm, data products and free tools PriceLabs is launching in 2023Anurag’s shameless plug for his new book, The Book Direct Playbook

Resources   PriceLabs PriceLabs’ Market Dashboard PriceLabs’ Portfolio Analytics Airbnb’s Total Price Display Policy The Book Direct Playbook: Say Goodbye to OTAs with Proven Marketing Tactics to Boost Direct Bookings by Mark Simpson, et al. GPFYP on YouTube GPFYP on Instagram STR Legends Mastermind FREE Airbnb Starter Guide Review GPFYP on Apple Podcasts   Email [email protected]  Sponsor  Legends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.