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In this episode of the STR Data Lab, Jamie Lane, the Chief Economist at AirDNA, and co-host Scott Sage, SVP of Marketing & Customer Experience, discuss short-term rental performance for February 2025. They start by noting strong overall demand, with a 5% year-over-year increase, although the first weeks of March showed a decline. Supply growth, marked at 3.9%, shows stabilization despite some markets seeing negative growth. They delve into detailed metrics like RevPAR, which rose 5%, and an ADR increase of 6%.
The conversation covers the impact of recent events like March Madness, the Super Bowl in New Orleans, and Beyonce's concert tour. Jamie discusses economic indicators, forecasting potential impacts due to factors like tariffs, taxes, and slowed government bookings, which could lead to declines in certain markets. They touch on internally-focused metrics like ADR and the repeat rent index, noting positive trends. Forward-looking, Jamie expresses cautious optimism for the short-term rental market's first half of the year, despite broader economic uncertainties.
The hosts emphasize the need for rental operators to stay vigilant of market-specific data, especially in light of potential travel slowdowns and macroeconomic concerns. Finally, they discuss March events like St. Patrick's Day and highlight the importance of local market expertise and constant monitoring of pacing data to adjust strategies effectively.
You don’t want to miss this episode!
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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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Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
Twitter: https://twitter.com/airdna
TikTok: https://www.tiktok.com/@airdna.co
Instagram: https://instagram.com/airdna.co
Episode 125