STR Data Lab™ by AirDNA

Live From VRMA: Hurricanes Impact, Urban Challenges, and Q4 Outlook

Oct 17, 2024

17:21

In this episode of The STR Data Lab, Jamie and Scott broadcast live from the VRMA conference in Phoenix, Arizona, where they break down the key issues shaping the short-term rental industry today. They emphasize why events like VRMA are more important than ever, offering a crucial space for the industry to come together and tackle pressing challenges head-on.

The conversation kicks off with the aftermath of hurricanes Helena and Milton, which caused a wave of cancellations across Florida and North Carolina. Asheville alone saw over 85,000 nights canceled, while Atlanta experienced a 50% spike in bookings as people sought temporary accommodations. These disruptions are expected to lead to a dip in home prices and rising insurance premiums across Florida, adding new challenges for property owners.

Jamie and Scott then shift focus to the U.S. market’s September performance, which fell short of expectations with a modest 2.9% increase in nights booked. The growth in supply is slowing, particularly in urban areas, where a 3.1% decline reflects ongoing struggles with regulatory issues, weak demand, and heightened competition from hotels—leading to closures like Frontdesk. On the bright side, ADRs were up 2.7% in September, and October is off to a strong start, with demand fueled by events like Halloween and solid holiday bookings on the horizon.

Jamie wraps up the episode by celebrating his first short-term rental booking and sharing a sneak peek of his new YouTube series, which you can catch on the AirDNA YouTube channel.

Don’t miss this episode—it’s packed with valuable insights!

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Connect with Jamie on LinkedIn and Twitter:

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

Twitter: https://twitter.com/Jamie_Lane

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Connect with Scott on LinkedIn:

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

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