STR Data Lab™ by AirDNA

In this episode of the STR Data Lab, Jamie Lane is joined by John An, founder of TechTape. The two share insights into navigating today’s volatile travel market. Jamie highlighted that 2024 is shaping up to be a more challenging year, with signs of softening demand in several U.S. markets. He pointed to Washington, D.C. as a key example, where government-related travel is slowing due to federal budget tightening. John emphasized that revenue management today is more about feel and adaptability than relying solely on hard data. He compared it to driving—requiring constant micro-adjustments rather than abrupt turns.Jamie supported this idea, adding that operators who watch their pacing, ADR, and occupancy weekly or even daily are the ones staying ahead. John mentioned that too many small operators still use a “set it and forget it” approach to pricing, which is risky in the current environment. He explained that intuition should be paired with data to make smart, timely decisions. Jamie echoed that sentiment, noting that even in tough markets, success is possible with active monitoring and responsiveness. John said the best operators act like football coaches—adjusting their strategy based on how the “game” (market) is playing out, not just on a pre-written playbook.Both speakers agreed that frequent check-ins—weekly or bi-weekly—on business performance are critical. John stressed that there’s no one-size-fits-all model, and pricing strategies need to be fluid. Jamie added that being proactive instead of reactive is a key differentiator right now. They concluded that the combination of consistent data review and strategic intuition is what separates good operators from great ones. Ultimately, staying close to the numbers while understanding the story behind them is the best path forward.You don’t want to miss this episode!~~~~www.https://www.gettechtape.com/~~~~Signup for AirDNA for FREE👇https://app.airdna.co/data ~~~~Connect with Jamie on LinkedIn and Twitter: LinkedIn: https://www.linkedin.com/in/jamiehlane/ Twitter: https://twitter.com/Jamie_Lane ~~~~Connect with Scott on LinkedIn: LinkedIn: https://www.linkedin.com/in/sagescott~~~~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 129

Bill Faeth, founder of Build Short-Term Rental Wealth and a 30-year real estate veteran, shares his remarkable journey from traditional real estate to short-term rentals. He discusses the critical components of creating 'super properties' by capitalizing on unique features like views and amenities. Bill emphasizes patience in investment decisions and offers advice on timing buys amidst market volatility. He highlights the importance of outdoor enhancements and spotlights overlooked markets to maximize returns, all backed by strategic data analysis.

In this discussion, Andrew Keller, a renowned short-term rental photographer and founder of ISOneedphotos, emphasizes the vital role of professional photography in boosting booking rates. He shares his journey from childhood photography to capturing properties in over 22 states and Costa Rica. Andrew highlights common pitfalls of using amateur images and offers practical tips for staging, lighting, and angles to attract guests. His expertise shows that the right visuals can dramatically enhance a rental’s appeal and lower guest dissatisfaction.

In this episode of the STR Data Lab, Jamie Lane, the Chief Economist at AirDNA, is joined by Bram Gallagher, Director of Economic and Forecasting at AirDNA, to discuss current economic uncertainties and their potential impact on the lodging industry. They delve into the new presidential administration and recent fluctuations in the stock market, which have introduced significant uncertainty. Despite strong fundamentals in unemployment rates and GDP growth, consumer sentiment and the economic policy uncertainty index show signs of concern, with the latter reaching its highest level since COVID-19. A notable topic is the influence of tariffs, including their imposition and the ensuing trade wars impacting international travel. Canadian travel to the U.S. has notably decreased, with several flight routes canceled, significantly affecting markets with high Canadian tourist reliance. Additionally, stock market volatility influences consumer spending through the wealth effect, potentially curbing leisure travel plans. The discussion also covers sectors like business travel, where cuts and price sensitivity have emerged. The participants conclude that current data still supports strong economic performance, but the downside risks necessitate vigilance over future metrics and trends. Concerns such as tariff impacts, inflation, and travel behavior shifts underscore the importance for lodging operators to stay informed and adaptable in their strategies.You don’t want to miss this episode!~~~~Signup for AirDNA for FREE👇https://app.airdna.co/data ~~~~Connect with Jamie on LinkedIn and Twitter: LinkedIn: https://www.linkedin.com/in/jamiehlane/ Twitter: https://twitter.com/Jamie_Lane ~~~~Connect with Scott on LinkedIn: LinkedIn: https://www.linkedin.com/in/sagescott~~~~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 126

Assaf Karmon, CEO and co-founder of Turno, dives into the world of automation in short-term rental management. He shares his journey of creating a platform that connects hosts with reliable cleaners, overcoming the challenges of sourcing cleaning services. The discussion highlights the importance of vetting cleaners, tracking projects, and managing exceptions. Assaf also discusses the automation of maintenance and inventory tasks, illustrating how technology can significantly enhance operational efficiency while addressing concerns about the risks of automation.

In this episode of the STR Data Lab, Jamie Lane, the Chief Economist at AirDNA, and Eric Goldreyer, the CEO and Founder of Savvy. Eric shares his rich history in the vacation rental industry, dating back to 1995 when he and his wife founded bedandbreakfast.com. The website became the leading platform for bed and breakfast listings and property management software. Eric recalls his journey, from creating central reservation systems, to selling bedandbreakfast.com, taking time off, and eventually pioneering new ventures like Turnkey Vacation Rentals and Funair. He highlights the pain points property managers face with high distribution costs and how the Savvy platform aims to address these issues. Savvy offers a fresh approach with a no-fee model, aiming to facilitate direct bookings for vacation rentals, thereby saving costs for property managers and guests. Eric delves into the company's strategy, including maintaining algorithms that ensure high-quality matches between guests and properties. He emphasizes the importance of providing great hospitality, managing distribution costs, and building repeat and word-of-mouth business. The conversation takes a deeper dive into the competitive landscape, where Eric stresses that Savvy doesn't aim to replace OTAs but complement them by offering an alternative that reduces booking costs. Jamie and Eric also discuss the importance of effective direct booking sites for property managers and the evolving dynamics of website quality, revenue management, and the role of property managers. Eric concludes by envisioning a future where Savvy is successful, benefiting both travelers and property managers, and addresses the challenges and opportunities within the vacation rental industry. He provides insights into what new property managers should focus on, drawing from his extensive experience in the sector.You don’t want to miss this episode!~~~~Signup for AirDNA for FREE👇https://app.airdna.co/data ~~~~Connect with Jamie on LinkedIn and Twitter: LinkedIn: https://www.linkedin.com/in/jamiehlane/ Twitter: https://twitter.com/Jamie_Lane ~~~~Connect with Scott on LinkedIn: LinkedIn: https://www.linkedin.com/in/sagescott~~~~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 123

In this episode of the STR Data Lab, Jamie Lane, the Chief Economist at AirDNA, and Scott Sage, SVP of Marketing, discuss the performance of the Short-Term Rental (STR) market in January. The episode highlights data from Airbnb, Booking.com, and VRBO's Q4 reports, revealing a 12-19% increase in nights booked across platforms. Jamie emphasizes the importance of being multi-channel listed to maximize bookings. Supply growth was reported at 4.3%, while demand growth surged to 8.9%, resulting in over 20 million nights booked, predominantly for spring break. Market dynamics in the U.S. showed record-high January bookings, with an Advanced Daily Rate (ADR) increase of 5% year-over-year. Despite inflation concerns, January provided a strong start, with higher booking volumes and pricing power. The discussion extends into interest rates and their impact on the STR market, mentioning a slight decline in 10-year treasuries and 30-year fixed-rate mortgages. Specific market performance is dissected, noting strong demand in mountain and lake areas due to favorable weather. Additionally, small cities and rural markets experienced a 23% demand growth. Jamie also provides insights into challenges for standardized properties, urging hosts to differentiate through better amenities. Lastly, the episode addresses the continued impact of natural disasters like hurricanes and fires on bookings in affected areas, indicating a possible decrease in specific markets like Los Angeles and Maui. Jamie concludes with potential macroeconomic impacts, including government job cuts and cross-border travel trends between Canada and the U.S.You don’t want to miss this episode!~~~~Signup for AirDNA for FREE👇https://app.airdna.co/data ~~~~Connect with Jamie on LinkedIn and Twitter: LinkedIn: https://www.linkedin.com/in/jamiehlane/ Twitter: https://twitter.com/Jamie_Lane ~~~~Connect with Scott on LinkedIn: LinkedIn: https://www.linkedin.com/in/sagescott~~~~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 122

In this episode of the STR Data Lab, Jamie Lane, chief economist at AirDNA, sits down with Jonah Hanig, CEO of Rove Travel. Jonah shares his journey from Chicago suburbs to New York City, his stint as an investor, and the experiences that inspired the founding of Rove Travel. He recounts how living in various Airbnbs during the pandemic was a mixed bag and spurred him to create a consistent luxury home rental marketplace. The conversation delves into the challenges and strategies for ensuring high quality and service in luxury travel. Jonah explains how Rove Travel aims to bridge the gap between short-term and midterm rentals in New York, emphasizing that they started with a focus on midterm rentals in compliance with local laws. They discuss expansion into other luxury markets like the Hamptons, Aspen, and Southeast Florida, acknowledging the operational complexities involved. Jonah describes their distribution strategy, leveraging platforms like Airbnb, Vrbo, and their direct booking platform, Rovetravel.com. He highlights the importance of property quality and exemplary service, sharing anecdotes and challenges they faced in maintaining high standards.The discussion also covers how Rove Travel differentiates itself from traditional rentals and high-end hotels, offering properties that justify their rates through superior service and amenities. Jonah sheds light on their homeowner strategy, emphasizing investment properties over primary residences. He explains that their business thrives on word-of-mouth, good results, and strategic market expansion. The podcast concludes with insights on the future of the luxury rental market and advice for prospective investors, emphasizing the importance of understanding market dynamics and leveraging asymmetric information.You don’t want to miss this episode!~~~~Connect with Jonah and Rove Travel:Linkedin: https://www.linkedin.com/in/jonahhanigInstagram: https://www.instagram.com/rove_travel/~~~~Connect with Jamie on LinkedIn and Twitter: LinkedIn: https://www.linkedin.com/in/jamiehlane/ Twitter: https://twitter.com/Jamie_Lane ~~~~Connect with Scott on LinkedIn: LinkedIn: https://www.linkedin.com/in/sagescott~~~~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 121

Catherine Rathcliffe, an expert on Canadian travel and its economic implications, dives into the turbulent waters of short-term rentals in Canada. She highlights the impact of recent tariffs and political tensions on travel patterns, emphasizing how Canadians are opting for domestic trips due to rising nationalism. Rathcliffe also discusses the significant role of Canadian travelers in the U.S. market and the complex regulations affecting short-term rentals in cities like Montreal. With upcoming elections on the horizon, the landscape of travel and rental policies is ripe for change.

Brandy Canaley, COO of Roami, an expert in urban short-term rentals, shares her strategies for managing rentals during high-demand events like the Super Bowl and Mardi Gras. She discusses the complexities of pricing and staffing, emphasizing meticulous planning and clear communication with guests. Brandy highlights the importance of guest satisfaction even amidst high rates, offering tips to enhance the rental experience. She also compares the short-term rental dynamics of New Orleans and Phoenix, revealing the unique challenges in each market.