STR Data Lab™ by AirDNA

In this episode of the STR Datalab, hosts Jamie Lane and Scott Sage explore the future of short-term rental markets over the next five years. The discussion kicks off with insights into recent vacation rental demand, notably influenced by population shifts during the COVID-19 pandemic. They delve into their predictive methodology, emphasizing factors like population growth, employment, and feeder cities. Jamie explains the concept of feeder cities and their significance in anticipating rental demand. They use historical data and projections from sources like the U.S. Census and Oxford Economics. The episode reveals top markets like Corpus Christi and Galveston, and identifies weaker prospects in Wisconsin and California. The hosts also highlight the importance of yield in investment decisions, giving examples such as the North Georgia mountains. The conversation concludes with a teaser on upcoming reports and webinars detailing their economic outlook and short-term rental performance. Scott and Jamie emphasize the importance of taking a comprehensive view of market conditions and avoiding overreliance on single factors. They suggest practical applications for existing hosts, including targeted marketing and seasonal planning. Insights into migration trends and their long-term impact on the STR market are discussed in detail. There's a focus on how economic conditions in feeder cities like Houston and Dallas influence surrounding vacation areas. The episode ends with encouragement for listeners to consult the detailed report for further information.You don’t want to miss this episode!~~~~https://www.airdna.co/blog/best-vacation-rental-markets-in-the-next-5-years\~~~~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 ~~~~Find AirDNA at these upcoming events! https://www.airdna.co/events-airdna Episode 89

In this episode of STR Data Lab, Jamie Lane, Chief Economist at AirDNA, welcomes Nils Mattisson, CEO and co-founder of Minut. The discussion begins with the founding story of Minut, a company focused on privacy-preserving monitoring solutions for short-term rentals. Nils explains how their technology leverages AI and edge computing to help hosts monitor their properties without invading guest privacy. The two cover the importance of noise monitoring in maintaining good relationships with neighbors and complying with local regulations. Nils details how Minut’s devices analyze environmental sounds without recording them, maintaining privacy while reducing noise complaints by up to 90% in targeted areas.Jamie and Nils also touch upon the resistance from property managers due to privacy concerns, which often contrasts with the guests' understanding and acceptance of non-intrusive monitoring. They discuss Minut's use of AI to differentiate between types of noise and the company’s open API that allows integration with other property management systems. Nils shares insights from his background at Apple and how it influenced Minut’s approach to privacy and data collection. The conversation also addresses the implications of Airbnb's ban on cameras and party regulations, suggesting a favorable environment for noise monitoring solutions. Looking forward, Nils envisions more AI-enhanced workflows and further hardware innovations tailored for the short-term rental industry. The episode wraps up with thoughts on the evolving landscape of smart home devices in rental properties and how they could be better integrated.You don’t want to miss this episode!~~~~Connect with Nils:linkedin.com/in/nmattisson~~~~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 ~~~~Find AirDNA at these upcoming events! https://www.airdna.co/events-airdna Episode 88

In this episode of the STR Data Lab, host Jamie Lane welcomes Henry Washington, a real estate investor who transitioned from a crisis into a thriving investment career. Henry's real estate journey began in 2017 when a simple Google search opened his eyes to real estate investment opportunities.Starting with just $1,000 in savings and poor credit, Henry made his first real estate acquisition for $116,000, creatively financing it by borrowing against his wife’s 401(k) and securing a conventional loan from a local bank. This marked his full commitment to real estate, leading him to leave his position in data analytics at Walmart.In April 2020, Henry transitioned to full-time real estate investment, driven by an opportunity with an apartment syndication fund. He discusses the significant role data plays in his strategy, using metrics such as property age, foreclosure status, and absentee ownership to pinpoint motivated sellers. Despite challenges like high interest rates, Henry finds opportunities with these sellers, using the list price to sell price ratio to assess market health and formulate offers. He notes that while some banks have reduced their commercial loan offerings, local community banks remain viable options for financing, emphasizing the importance of understanding bank preferences to secure financing more effectively.Throughout the podcast, Henry and Jamie discuss how embracing the identity of a real estate investor and expanding his network were crucial. Influential readings like "Rich Dad, Poor Dad" and guidance from mentors were pivotal in shaping his investment approach. Now focusing on short-term rentals, Henry leverages his insights to develop a portfolio that meets evolving consumer demands.Henry also introduces listeners to his book, "Real Estate Dealmaker," aimed at empowering readers with practical advice on finding and financing real estate deals. This episode offers invaluable insights for anyone interested in navigating the complexities of real estate investment with confidence and creativity. You don’t want to miss it! ~~~~Connect with Henry:https://www.instagram.com/thehenrywashington/?hl=en~~~~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 ~~~~Find AirDNA at these upcoming events! https://www.airdna.co/events-airdna Episode 87

In the latest episode of the STR Data Lab, Jamie Lane and co-host Scott Sage break down May's U.S. market performance. They highlight a 7% increase in available listings—the lowest growth seen in three years—and an 11% rise in demand, which has led to a 3% increase in occupancy rates. Despite these gains, occupancy rates still trail behind 2019 levels, albeit with signs of a rebounding market.Jamie points out that the average daily rate (ADR) growth is up 1.5%, with a noticeable shift towards larger rental units. Revenue per available room (RevPAR) has also seen a promising increase of 4.5%, signaling a positive shift after two consecutive years of declines. However, urban centers like New York and San Francisco are experiencing a drop in listings due to regulatory challenges, in contrast to the growth seen in suburban, mountain, and coastal regions.The duo discusses the slowdown in supply growth, attributing it to cautious new investment and market conditions. They highlight robust performance in smaller and mid-sized cities like Bloomington, Buffalo, and Albany. The conversation also covers the impact of international travel dynamics, the strength of the dollar, and the critical role of marketing the U.S. as a welcoming destination.Looking ahead, Jamie and Scott forecast stable demand growth at around 6-7%, driven by overall travel spend and short-term rental adoption. They emphasize the resilience of the upscale and luxury segments, which are outperforming due to limited supply and growing demand. Jamie predicts a slight increase in RevPAR for 2024 and more substantial growth in 2025, contingent on stable supply growth and favorable economic conditions.The episode concludes with a discussion on potential wild cards, such as interest rate changes and their impact on investment in the short-term rental market. The hosts express cautious optimism for the sector, advising operators to focus on differentiated, high-quality offerings to maintain a competitive advantage.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 ~~~~Find AirDNA at these upcoming events! https://www.airdna.co/events-airdna Episode 86

In this episode of the STR Data Lab, Jamie Lane, the chief economist at AirDNA, welcomes Shawn Moore, CEO and founder of Vodyssey, for a long-overdue conversation. Shawn shares his journey in real estate, which began after a short stint in employment post-college. His career in real estate spans over 24 years, starting with fix-and-flip properties and long-term rentals before transitioning to short-term rentals. This shift occurred accidentally when he bought a second home in 2006 and started renting it out to cover mortgage payments. Noticing the potential of short-term rentals, Shawn went all-in by 2015, fully transitioning his investments from development deals to short-term rentals. He discusses how the industry's growth, particularly post-COVID, has influenced his strategy and the need for accurate data for successful investment.Shawn recounts the pivotal moment in 2015 when a conversation with his young son and an advertisement campaign on the limited summers with children motivated him to focus on something more fulfilling. This led to the foundation of Vodyssey in 2019, aimed at helping others navigate the short-term rental market. Initially starting small, Vodyssey now boasts over 3000 members in a high-end mastermind group. Shawn emphasizes the importance of choosing markets that align with personal preferences and are short-term rental-friendly. He advises investors to focus on markets they are familiar with and enjoy, rather than getting overwhelmed by numerous options.Shawn and Jamie discuss the significance of having reliable data sources like AirDNA to make informed decisions and the evolution of short-term rental regulations. They also highlight the necessity of understanding market-specific dynamics, such as occupancy rates and seasonality, to identify profitable investment opportunities. Sean's approach underscores the balance between personal enjoyment and investment viability, encouraging investors to leverage their knowledge and preferences for successful property management and marketing.You don’t want to miss this episode!~~~~Connect With Shawninstagram.com/vodysseyshawnmoorefacebook.com/vodysseyofficialvodyssey.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 ~~~~Find AirDNA at these upcoming events! https://www.airdna.co/events-airdna Episode 85

In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, invites Ben Wolff, co-founder of Onera and Oasi. Ben traces his journey from starting Sensei, an early rental management company, to establishing his own unique vacation rental business. Inspired by his passion for real estate and technology, Ben ventured into the unique stays sector by creating Onera, a high-end treehouse retreat in Texas Hill Country that quickly gained success.Onera cleverly blends the natural environment with luxury, offering an appealing alternative between rustic camping and top-tier hotels. This concept proved especially popular during the COVID-19 pandemic as travelers sought unique outdoor experiences. Ben emphasizes the importance of creating memorable guest experiences to stay competitive in the unique stays market.The success of Onera led to its acquisition by Summit, a public REIT, pushing Ben's team to elevate their operational and reporting standards. The acquisition also confirmed Onera’s leadership in the alternative hospitality sector. Ben’s next venture, Onera Wimberley, aims to expand on the luxury and group-friendly aspects, responding to increasing demand for high-end, nature-close accommodations.Ben also discusses the role of social media in marketing, predicting that platforms like Instagram could become significant channels for booking unique stays. He outlines his strategies for content marketing and influencer collaborations to drive direct bookings. His company, Oasi, is heavily invested in digital marketing to fully leverage online platforms.Wrapping up, Ben considers the potential for OTAs to integrate social features, like Expedia’s travel shops, as beneficial for widening distribution channels while keeping control over guest experiences through direct bookings.You don’t want to miss this episode!~~~~Ben’s Linkedin:https://www.linkedin.com/in/ben-wolff/~~~~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 ~~~~Find AirDNA at these upcoming events! https://www.airdna.co/events-airdna Episode 84

Vacation rental investor Rohin Dhar shares insights on property management, unique guest experiences like adding hot tubs, using social media for real estate connections, navigating local regulations for affordability, and discussing the economics of direct bookings versus platforms like Airbnb. Dhar emphasizes the importance of balancing tourism and local affordability in short-term rentals.

In this episode of the STR Data Lab, hosts Jamie Lane and Scott Sage offer an in-depth analysis of the recent dynamics and future outlook of the short-term rental industry. They discuss the prolonged challenges marked by declining RevPAR, noting this recurring trend in 22 of the last 24 months. Despite these challenges, both hosts maintain an optimistic outlook, highlighting the potential for growth and resilience within the market.They pinpoint the main cause of the RevPAR decline as an ongoing imbalance between supply and demand, notably in major urban centers like New York City. Nonetheless, they identify growth areas in smaller and midsize cities, though the pace is more moderate than in previous years.Jamie and Scott explore various factors influencing industry performance, such as interest rates, job growth, and consumer spending patterns. They predict sustained demand growth spurred by forthcoming events like Memorial Day and university graduations, which traditionally lead to more bookings and elevated ADRs. They emphasize the critical role of revenue management strategies in boosting profitability, advocating for a focus on increasing ADR rather than occupancy alone.The episode also previews upcoming enhancements to the AirDNA platform, designed to provide users with more intuitive and actionable market data to streamline analysis and decision-making for investors and operators.Ending on an optimistic note, Jamie and Scott highlight the positive trends in occupancy and ADR as the summer travel season approaches. Despite ongoing challenges, they express confidence in the short-term rental market's resilience and adaptability.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 ~~~~Find AirDNA at these upcoming events! https://www.airdna.co/events-airdna Episode 82

In this episode of the STR Data Lab podcast, Jamie Lane, Chief Economist at AirDNA, sits down with Dustin Abney, CEO of Portoro, a vacation rental management company. Abney dives into his transition from the real estate SaaS world to vacation rental management, sharing the origins of Portoro.Dustin’s journey began with his early interest in real estate and technology, starting with his experience at Dotloop, which gave him valuable insights into the real estate market. This experience led him to purchase his first vacation rental property and eventually co-found D'Alexander, which adopted a prop co-op model to manage vacation homes nationwide. After navigating various roles and observing market trends, Dustin saw an opportunity to address the fragmented market and founded Portoro in 2022. With a focus on acquisitions and organic growth, Portoro has quickly expanded to manage over 270 units across ten markets, combining national branding with local operational expertise.Portoro's technological approach mixes off-the-shelf solutions for operational efficiency and the development of custom tools to fill industry gaps, like homeowner portals and enhanced guest amenities. Dustin stresses the importance of data-driven decision-making and strategic market selection, considering traveler demand, regulatory environments, and inventory dynamics.Dustin discusses operational challenges, emphasizing the importance of investing in local teams and scaling operations alongside portfolio growth. He identifies retention as a crucial metric, citing Portoro's impressive retention rates as evidence of their successful operational model.Looking to the future, Dustin weighs the benefits of acquisitions against organic growth, highlighting the role of strategic partnerships and the influence of market dynamics. While the PropCo model remains appealing, he notes the challenges of high property prices and interest rates, underscoring the necessity for patient capital and strategic planning.Reflecting on his role as CEO, Dustin candidly discusses leadership challenges, particularly in managing personnel and integrating acquired companies. Despite these challenges, he is optimistic about Portoro's future and the evolving opportunities in the vacation rental industry.You don’t want to miss this episode!~~~~https://www.portoro.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 ~~~~Find AirDNA at these upcoming events! https://www.airdna.co/events-airdna Episode 81

In this episode of the STR Data Lab podcast, Jamie Lane, Chief Economist at AirDNA, sits down with Catherine Ratcliffe, CEO of STR Benefits Consulting and Lost Together Stays. They discuss Catherine's role at the recent CanStays Alliance Conference held in Banff, Canada, where she curated content specifically for the Canadian short-term rental industry and facilitated discussions between national and local government officials and industry stakeholders.Catherine reflects on her upbringing in Canada, highlighting the cultural and political landscape that shaped her views. She shares personal stories that led her into the short-term rental industry, emphasizing the significance of creating memorable experiences for her family and guests. The conversation explores the complexities of organizing conferences and engaging with government officials, addressing challenges like regulatory changes and enhancing collaboration within the industry.The discussion also touches on the advocacy and community engagement roles of companies like Airbnb, with Catherine commending their initiatives in human trafficking prevention and disaster relief. Looking forward, they discuss anticipated developments in the industry, including new regulations and the potential return of the CanStays Conference in 2025.Catherine also highlights the need for employers to stay abreast of evolving regulations and provide robust support for their employees. Whether managing properties or hiring contractors, she stresses the importance of understanding state-specific regulations and offering suitable benefits to ensure compliance and retain valuable team members.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 ~~~~Find AirDNA at these upcoming events! https://www.airdna.co/events-airdna Episode 80