In this episode of the STR Datalab, Jamie and Scott kick off by discussing their summer experiences and share their favorite Olympic moments, while exploring how the Paris Olympics have influenced the short-term rental industry. 

The hosts highlight a significant boost in Airbnb listings and demand during the Olympics, driven by an expanded supply in Paris. The episode also unpacks Airbnb’s Q2 2024 earnings report, noting strong growth tempered by concerns over shortening booking lead times and a dip in U.S. guest demand.

Jamie and Scott examine the factors behind these trends, including economic uncertainties, upcoming elections, and shifting guest behaviors. Jamie points out a shift toward mobile bookings, with Airbnb increasingly relying on its app, and discusses the strategic partnership between Sonder and Marriott, which underscores evolving strategies in the STR space.

They also recap July 2024 STR performance, crediting positive demand growth to peak summer travel while warning of potential market uncertainties ahead. Key metrics like occupancy, average daily rates, and RevPAR are analyzed, revealing growth in urban areas but declining rates in coastal and rural regions. The episode also touches on macroeconomic influences, including recent Fed actions, and how these may shape future STR trends.

Jamie wraps up with a forward-looking view, predicting demand growth for August, boosted by an early Labor Day, but expressing caution about rate fluctuations. 

You don’t want to miss this episode!

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

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Episode 95