In this episode of the STR Data Lab, Jamie Lane, chief economist at AirDNA, sits down with Jonah Hanig, CEO of Rove Travel. Jonah shares his journey from Chicago suburbs to New York City, his stint as an investor, and the experiences that inspired the founding of Rove Travel. He recounts how living in various Airbnbs during the pandemic was a mixed bag and spurred him to create a consistent luxury home rental marketplace. 

The conversation delves into the challenges and strategies for ensuring high quality and service in luxury travel. Jonah explains how Rove Travel aims to bridge the gap between short-term and midterm rentals in New York, emphasizing that they started with a focus on midterm rentals in compliance with local laws. They discuss expansion into other luxury markets like the Hamptons, Aspen, and Southeast Florida, acknowledging the operational complexities involved. Jonah describes their distribution strategy, leveraging platforms like Airbnb, Vrbo, and their direct booking platform, Rovetravel.com. He highlights the importance of property quality and exemplary service, sharing anecdotes and challenges they faced in maintaining high standards.

The discussion also covers how Rove Travel differentiates itself from traditional rentals and high-end hotels, offering properties that justify their rates through superior service and amenities. Jonah sheds light on their homeowner strategy, emphasizing investment properties over primary residences. He explains that their business thrives on word-of-mouth, good results, and strategic market expansion. The podcast concludes with insights on the future of the luxury rental market and advice for prospective investors, emphasizing the importance of understanding market dynamics and leveraging asymmetric information.

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~~~~

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~~~~

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Episode 121

In this episode of the STR Data Lab, Jamie Lane, chief economist at AirDNA, sits down with Catherine Rathcliffe to discuss recent developments affecting short-term rentals, especially in Canada. The conversation shifts from past topics like insurance and HR to focus on the significant news in Canadian short-term rentals. With the Trump's administration's proposed tariffs and heightened political tensions, both Canadian and American operators are feeling the impact. Rathcliffe, a repeat guest, brings her expertise on Canadian travel and economic implications. She reflects on the historical relationship between the U.S. and Canada, highlighting how the falling Canadian dollar and political tensions are affecting travel behaviors. She notes that 20 million Canadians visited the U.S. last year, making up a significant portion of international visitation, while Canadians represented 3% of U.S. demand in short-term rentals last year. The current environment promotes a sense of patriotism in Canadians opting for domestic travel, potentially influencing similar sentiments among Americans considering travel to Canada. 

The discussion also touches on local regulations in Montreal and British Columbia, and their impact on the short-term rental market. Rathcliffe suggests that enforcement nuances and public-private collaborations play a role in how these regulations are implemented. As political figures change, upcoming elections could further influence travel and economic policies. Despite these challenges, Rathcliffe remains optimistic about opportunities in the short-term rental market, predicting continued change and emphasizing the importance of being mindful of family protectionism and economic decisions. Lastly, Rathcliffe encourages everyone to vote and ensure their voice is heard in these politically turbulent times.

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LinkedIn: https://www.linkedin.com/in/jamiehlane/ 

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~~~~

Connect with Scott on LinkedIn: 

LinkedIn: https://www.linkedin.com/in/sagescott

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Episode 120

In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, interviews Brandy Canaley, COO of Roami and fellow GMH podcast host. They delve into the complexities and strategies of managing short-term rentals during major events such as the Super Bowl, Mardi Gras, and Taylor Swift concerts. Brandy shares her expertise on operations, pricing, and staffing challenges that arise when markets are near full occupancy. Roami operates about 800 units in urban environments like South Florida and New Orleans, where high ADR events are common. 

They discuss the advance planning required for these events, from ensuring units are cleaned on time to coordinating with contracting agencies for extra help. Brandy emphasizes the importance of meticulous planning, setting proper expectations for guests, and managing last-minute bookings. The conversation touches on the impact of local regulations on short-term rental markets, using New Orleans as a case study. Additionally, Brandy talks about the need to balance high rates with guest satisfaction and how small gestures can enhance the guest experience. She advises smaller hosts to streamline operations and be prepared for higher clean-up requirements post-event. 

The interview also covers tips for making rental listings stand out during high-demand periods. Brandy shares insights on managing listings' location descriptions and leveraging amenities to attract guests. She also highlights the importance of maintaining calm under pressure and rewarding staff after high-demand weekends. Finally, Brandy invites listeners to learn more about Roami's short-term rentals in Miami and New Orleans and to tune in to the GMH podcast for further industry insights.

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Connect with Scott on LinkedIn: 

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Episode 119

In this episode, Jamie Lane, Chief Economist at AirDNA, is joined by Dave Meyer, Head of Real Estate Investing at BiggerPockets, to delve into the intricacies of the housing market. The discussion touches on the dynamics of short-term rental investments and the broader housing market, highlighting why understanding these trends is crucial for investors. Dave reflects on the volatility of affordability and mortgage rates over the past year and the factors affecting home values. They also discuss the disparity between affordability and home values, noting that more Americans are spending a larger portion of their income on housing. 

The conversation transitions to the rental market, where multifamily rents have decreased and single-family rents have remained stable, influenced by a surge in multifamily supply amidst a housing shortage. Dave suggests that while rent growth has stagnated, there might be bullish trends starting in 2026 as supply normalizes. They address the impact of institutional versus small investors in the current market landscape, pointing out a pullback in large-scale institutional investments, which opens opportunities for small, diligent investors. The concept of Build to Rent, where entire communities are developed solely for rentals, is introduced as an ongoing trend. 

The discussion pivots to short-term rentals, emphasizing how small capital investments in amenities can yield high returns, contrasting with long-term rental strategies. Dave advises patience as a crucial strategy for 2025, as well as looking for properties with hidden value through creative improvements and zoning changes. The need for a localized approach in identifying investment opportunities is highlighted, along with the benefits of understanding infrastructural developments in certain areas. 

The episode concludes with Dave encouraging listeners to leverage their unique advantages as small investors and emphasizing the importance of taking a long-term view on investments. For more insights, listeners are directed to BiggerPockets' resources and Dave’s podcast, On the Market.

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~~~~

Connect with Scott on LinkedIn: 

LinkedIn: https://www.linkedin.com/in/sagescott

~~~~

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Episode 118

In this episode of STR Data Lab, Jamie and Scott discuss the 2025 edition of the Best Places to Invest (BPTI) report. Jamie shares insights into booking trends and the significant importance of January and February for the year's performance. The BPTI report aims to identify the top markets for investment based on a decade's worth of data. It's built on a robust methodology, focusing on investability, demand, revenue, and regulation, and offers a macro-level view but introduces price-tier segmentation for more personalized investment guidance.

This year’s BPTI uses newly improved metrics, including a focus on homes currently for sale, applying granular data from 250,000 homes to refine investability scores. The podcast unveils the top five markets for 2025: Crescent City, CA; Columbus, GA; Akron, OH; Fairbanks, AK; and Peoria, IL. Additionally, the report underscores trends like strong performance in midsize cities and introduces new filters for price tiers, providing diverse market opportunities from low to high investment brackets.

 Jamie and Scott break down the specificities of each market, touching upon key metrics, evolving supply and demand, and regulations. They also provide instructions for utilizing AirDNA’s platform to tailor individual investment strategies based on personal criteria and market preferences.

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~~~~

Connect with Scott on LinkedIn: 

LinkedIn: https://www.linkedin.com/in/sagescott

~~~~

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Episode 117

In this episode of STR Data Lab, Jamie sits down with Lydia Patel, a full-time pharmacist and short-term rental investor. Lydia shares how she started in the short-term rental market in 2020, initially learning about long-term rentals before transitioning. She talks about how she turned a tiny house in her backyard into a successful Airbnb listing. Covering her experience, Lydia mentions how analyzing data plays a crucial role in her investment decisions, driven partly by her healthcare background. She highlights the importance of looking at similar listings, their occupancy, and average daily rates to estimate revenue accurately. Lydia also shares insights on choosing investment markets, specifically how she settled on Northern Florida for a family-friendly environment. 

The conversation further dives into her market analysis process and her interest in Wisconsin Dells, only to decide against it after a deeper dive due to oversupply concerns. Lydia explains her practice of regular market reviews, which helps her stay competitive and informed about new listings and market dynamics. As she considers adding a pool to her Florida property, she weighs the pros and cons, emphasizing the importance of concrete data in her decision-making process. 

Finally, Lydia touches on her long-term plans, discussing the potential of adding new properties to her portfolio and her philosophy of treating guests as if they were family. Throughout the episode, Lydia stresses continuous learning and consistent market analysis to refine her short-term rental business.

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~~~~

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Episode 116

In this episode of the STR Data Lab, Jamie Lane sits down with Nikkei Rosenberg, a real estate agent from Savvy Realty, discussing the importance of finding the right real estate agent for short-term rental investments. Nikkei shares her extensive background in vacation rental management, starting from a young age in St. Augustine, Florida. She highlights her journey, including her roles at Vacasa and building a property management company. 

Nikkei emphasizes the importance of understanding local regulations and having a strong network of vendors. She offers advice on how to identify competent real estate agents and stresses the necessity of thorough due diligence, including generating accurate income projections and understanding all operational expenses. Nikkei addresses the challenges in the North Florida market, such as higher interest rates and insurance costs, but highlights the opportunities that exist for savvy investors. She talks about the importance of property setup and the meaningful impact of unique branding and high-quality amenities. Nikkei sees current market conditions as an opportunity for those willing to put in the work and adapt to the evolving market dynamics. 

She encourages potential investors to not be deterred by high interest rates and to focus on the long-term benefits, including potential future refinancing opportunities. Nikkei emphasizes the importance of surrounding oneself with a knowledgeable team and being prepared for the complexities of short-term rental investments. She concludes by offering her availability for consultations and encouraging aspiring investors to pursue their vision and not be afraid of failure. The episode ends with a call to action for listeners to connect with Nikkei through various social media platforms for more insights and to stay updated on new deals.

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~~~~

Connect with Scott on LinkedIn: 

LinkedIn: https://www.linkedin.com/in/sagescott

~~~~

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Episode 115

In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, discusses with Skift CEO Rafat Ali the future trajectory of Airbnb. The conversation delves into potential new business lines for Airbnb as it aims to launch billion-dollar ventures by 2025 and 2026. Lane talks about the need for Airbnb to expand beyond its core accommodations to maintain growth, especially as the short-term rental industry matures. 

They cover Airbnb’s new co-hosting network, which offers services like listing setup, guest communications, cleaning, and more. Jamie also explores potential new markets, such as car, boat, and plane rentals, and home improvement services. There’s discussion on the role of trust in Airbnb's platform, their potential loyalty program, and the ability to monetize their ecosystem through ads and promote listings. They examine Brian Chesky's vision for expanding Airbnb into a multi-billion dollar business and its parallels with Amazon's growth strategy. Jamie suggests the prospects of creating physical social networks and meeting spaces for Airbnb guests. They consider whether these expansions could make Airbnb an indispensable part of travel, akin to Amazon Prime, offering enhanced services and experiences.

 The episode concludes with reflections on the challenges and potential obstacles Airbnb might face in these ambitious expansions, and the community-driven value that these initiatives could bring to the Airbnb platform.

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Connect with Scott on LinkedIn: 

LinkedIn: https://www.linkedin.com/in/sagescott

~~~~

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Episode 114

In this episode of the STR Data Lab, Jamie Lane is a guest on Wil Slickers podcast Slick Talk where they dive into his history within the travel and tourism sector. They discuss the impacts of COVID-19 on market dynamics and make predictions on the future of the STR (Short Term Rental) market. Topics include AirDNA's acquisition of Uplisting, the new video series 'Jamie's Lane Change,' and Lane's recent adventures in real investment. Jamie shares his extensive career, starting from his work at PKF Hospitality Research in 2010, his time at CBRE, and now his role at AirDNA. They delve into the differences between the hotel and STR markets, where STRs show rapid growth and innovation. 

Jamie offers insights into the landscape and trends in both traditional and short-term rental markets, noting strong supply growth in STRs compared to the more mature hotel industry. The conversation broadens into macroeconomic factors, touching on interest rates, home values, and revenue projections for the STR industry. Jamie addresses the adaptability required of OTAs to keep pace with evolving market needs and predicts steady industry performance. He explains the rationale behind AirDNA's acquisition of Uplisting and the vast potential in expanding their services to smaller hosts. Jamie highlights global trends, emphasizing significant growth potential in regions like Latin America and Asia Pacific. In a rare political discussion, they discuss the potential economic impacts of recent elections on interest rates and immigration.

Jamie also talks about his hands-on experience as a host with AirDNA’s YouTube series, 'Jamie’s Lane Change,' where he details his journey from market selection to managing properties. Jamie concludes by expressing his optimism for the STR market's future while acknowledging the sector's dynamic nature and varying microeconomic climates. The episode closes with an invitation to connect with Jamie on social media and check out AirDNA's extensive resources.

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LinkedIn: https://www.linkedin.com/in/sagescott

~~~~

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Episode 113

In this episode of the STR Data Lab Jamie Lane, Chief Economist at AirDNA, and Scott Sage recap November's key metrics in the short-term rental market and projections for the future. They discuss metrics such as Average Daily Rate (ADR), occupancy, RevPAR, listings, and demand growth, all of which exhibited positive year-over-year signals. Special attention is given to ADR, which saw a 7% growth in November, partly due to easy comparisons with last year's 3.9% decline. 

The hosts highlight the deceleration in supply growth from 15% last year to 4% this year and its positive impact on occupancy and pricing power. Additionally, they explore the influence of economic drivers like inflation, Fed decisions, and the potential implications of a Trump presidency on the short-term rental market. They anticipate a slight increase in inflation rates and higher interest rates into 2026, which could affect investment and supply dynamics. 

The discussion rounds off with insights into 2025, labeled as the 'Year of Efficiency,' focused on maintaining and growing operations effectively. Stay tuned for the upcoming 'Best Places to Invest Report' in January.

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LinkedIn: https://www.linkedin.com/in/sagescott

~~~~

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Episode 112