Americans are still booking short-term rentals for the summer at record rates, beating expectations.
But the growing pool of Airbnb and Vrbo hosts means some hosts are seeing revenue drop up to 18%.
Americans are still voraciously booking short-term rentals, despite economic uncertainty — and are even outpacing expectations.
In January, analytics site AirDNA forecasted demand for short-term rentals, as measured by nights booked, would grow by 5% in 2023.
"Travel brands and the service economy have outperformed expectations, and short-term rentals are no different," said Jamie Lane, chief economist at AirDNA.
Persons:
—, Jen Kelman, Jamie Lane, Katie Kay Mead, Mead, it's, Kelman, Melinda Johnson, We're, Johnson, She's, she's, I'm
Organizations:
Service, Phoenix, AirDNA
Locations:
Arizona, Arrowhead , California, Tennessee, Smoky