Take a look at the key performance metrics for April 2023, as reported by Air DNA:

Revenue per Available Rental (RevPAR) experienced a slight decline of 3.7% compared to the previous year, with an average of $185.05 per night.

The number of available listings reached an impressive 1.43 million, showing a significant increase of 18.9% year over year. This means more options for travelers and property owners alike.

Total demand, measured by the number of nights booked, rose by a remarkable 12.6% year over year. It’s great to see a growing interest in short-term rentals!

Despite a 4.9% decrease in occupancy compared to the previous year (58.6% occupancy rate), it’s important to note that this figure still represents a 6% improvement when compared to 2019. The market is steadily recovering!

Average daily rates (ADRs) experienced a slight increase of 1.4% year over year, reaching $315.70. This suggests a positive trend in rental prices.

Overall, the number of nights booked increased by an impressive 16.4% year over year. This demonstrates the resilience and attractiveness of the short-term rental market.

Based on this information, we can surmise that the short-term rental market in the U.S. is showing signs of recovery and growth. While RevPAR declined slightly, the increase in available listings, total demand, and nights booked indicates a positive trajectory. Although occupancy was lower compared to last year, it has improved compared to pre-pandemic levels.

These insights highlight the evolving landscape of the short-term rental industry and the opportunities it presents for property owners and travelers alike. We remain optimistic about the future and encourage you to stay tuned for further updates!

#AirDNA#ShortTermRentalMarket#MarketInsights#TravelTrends