STR Data Lab™ by AirDNA Navigating Market Dynamics in Hotel and Short-Term Rental Investments
In this episode of STR Data Lab, host Jamie Lane, Chief Economist at AirDNA, sits down with experts Mark Woodworth, Principal at R.M. Woodworth & Associates, and Jack Corgel, Sr. Advisor at CBRE Hotels, to explore the nuanced dynamics of market fluctuations in the lodging industry. They examine the ease of entry into the short-term rental business and compare it to traditional hotel investments, highlighting the significance of alternative use cases and the changing landscape of consumer preferences.
Mark and Jack delve into the implications of supply fluctuations, underscoring the importance of understanding market cycles and tailoring investment strategies accordingly. They anticipate a resurgence of sustained growth in the traditional hotel industry, propelled by shifting demographics and consumer tastes. The conversation also covers the potential for branding in the short-term rental sector and the challenges associated with ensuring consistency across properties.
Sharing valuable lessons from their extensive careers in hospitality, Mark and Jack stress the necessity of recruiting smart, young talent and staying flexible in the face of market changes. Looking forward, they express optimism for a market rebound and foresee opportunities for expansion and innovation within the lodging industry. Tune in to acquire strategic insights and considerations for maneuvering through market fluctuations and making well-informed investment decisions in the rapidly evolving lodging industry.
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Episode 73