STR Data Lab™ by AirDNA

In Episode 59 of STR Data Lab, Jamie Lane welcomes Brooke Pfautz, Founder and CEO of Vintory, who brings over 16 years of industry experience. Brooke shares his journey in the vacation rental sector, emphasizing his passion for numbers and metrics. He explains that Vintory focuses exclusively on the supply side, helping property managers in expanding their portfolios. He also discusses the concept of co-hosting and property management, noting that many short-term vacation rental managers began their careers as co-hosts.Jamie and Brooke dive into critical concepts like customer acquisition cost and the lifetime value of new properties. Brooke outlines key growth strategies, including leveraging referrals, providing value to realtors, participating in community activities, and using direct mail—an effective technique in the sector. He highlights the importance of consistency and patience in marketing to attract and retain customers, drawing parallels between customer acquisition costs and lifetime value metrics in both the vacation rental and SaaS industries.The episode also explores the potential benefits of diversifying into different markets. Brooke talks about Vintory's operational strategies and how his innovative approach to idea-sharing on LinkedIn led to his book, "Vacation Rental Secrets." This book offers insights from 52 top vacation rental managers, each sharing their top 10 industry mistakes, making it a valuable resource for investors.Don't miss this episode for a deep dive into effective strategies for growth in the vacation rental industry.~~~~Connect with Brooke: Vintory.combrooke@vintory,comhttps://www.linkedin.com/in/d-brooke-pfautz-1a4a4a1/~~~~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 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 

In Episode 58 of STR Data Lab, Jamie Lane sits down with Matt Durrette, CEO of Cozi Vacation Rentals. They discuss the company's impressive growth, strategies in evolving market conditions, and how they maintain quality amidst rapidly increasing property listings. Starting with just 10 houses in 2020, Cozi has expanded to nearly 350 properties by 2023.Matt reveals the strategy behind Cozi’s swift expansion: a focused approach on a single market. Concentrating on Fredericksburg, TX, and the Hill Country, Cozi developed a 24/7 customer experience team to provide exceptional service. A significant 97% of their bookings are from neighboring cities, highlighting its appeal as a drive-to destination. Cozi's property selection criteria revolve around three core aspects: exceptional owners, prime locations, and amenities that appeal to guests.The conversation also explores the influence of interest rates and real estate trends on the vacation rental market. Matt emphasizes the need to prioritize guest needs, ensure quality experiences, and build trust with guests and property owners. He also mentions that Cozi annually curates its portfolio, removing the bottom 10% to maintain only the finest homes.This episode offers invaluable insights into successful growth strategies in the vacation rental industry – don't miss it!~~~~Connect with Cozi: Join.cozivr.commatt@cozivr.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 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

In episode 57 of STR Data Lab, Jamie Lane sits down with Joe Riley, Founder and CEO of Patriot Family Homes. Joe's journey in property management began during his military service, leading to the unique approach of Patriot Family Homes in meeting the specific accommodation needs of military personnel and other traveling professionals.Patriot Family Homes distinguishes itself from other companies with a focus on 'needs-based' short-term rentals, especially catering to military travel which constitutes more than 50% of their bookings. They offer various stay lengths, from more than 30 days for relocations, 1 to 4-week stays for traveling workers, and shorter stays for events like funerals — their most frequent under-one-week booking.Joe also highlights their short lead booking time and discusses the current health of the market, noting fluctuations in demand and the significant impact of supply. Patriot Family Homes manages 550 units across 15 core markets, and Joe shares insights on their growth strategy, which includes increasing supply through third-party management, owning homes through affiliated property companies, and rental arbitrage, in response to high property prices and interest rates.The conversation also touches upon the impact of regulation in different markets, the challenges of working with military lodging regulations, and the importance of looking at real-world occupancy rather than forward-looking occupancy for revenue management.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 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 

Join Jamie Lane as he sits down with Madeline List, Senior Research Analyst at Phocuswright, for a deep dive into the varied preferences and behaviors of guests at short-term rentals versus hotels. Leveraging Phocuswright's extensive market intelligence in the travel and tourism sector, Madeline offers a detailed comparison of these divergent guest experiences.The conversation unveils that STR guests often don't commit to a single accommodation category, showing a marked difference from the typical hotel guest profile. STR guests tend to be younger and have a higher median income, usually between $75-99k, which contrasts with the $50-74k median income of hotel guests. They also travel more, averaging nearly four leisure trips annually, compared to three for hotel guests, and they are more likely to combine work with leisure, taking advantage of the ability to work remotely while on longer stays.A notable point of the episode is the discussion of the challenges that STRs face in delivering consistent standards. While hotels are expected to provide a certain level of quality and reliability, STRs operate without the extensive checks and balances that enforce this consistency.The importance of reviews in the STR selection process is also explored. Madeline and Jamie discuss how these reviews have become a crucial tool for guests seeking assurance about their stay—something that's less of an issue with the established reputation of hotel brands.Looking towards the future, Madeline shares her insights on the potential impact of economic challenges on the industry, specifically how a recession might alter travel patterns and affect guest loyalty.~~~~Check out Phocuswright:https://www.phocuswright.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 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 56

In this episode, Jamie Lane welcomes Jeremy Gall, the Founder and CEO of Breezeway, to discuss the evolving landscape of property management. Jeremy first made waves in 2006 by launching FlipKey, a pioneering house-swapping and vacation rental listing platform. At that time, the idea of using credit cards over checks for vacation home bookings was still under debate.Recognizing a shift toward more service-oriented property management, Jeremy then founded Breezeway to ease the burden on property managers by offering a comprehensive solution for coordinating staff, cleaners, and maintenance across all properties. Breezeway serves as a centralized hub for property care and operations, helping managers navigate the complexities of handling multiple properties across various markets.Jeremy also highlights key performance indicators that property managers should be tracking, such as guest satisfaction and team utilization. He discusses the importance of keeping tabs on metrics like the number of tasks and time spent per property.Finally, the duo breaks down where they see the industry headed over the next few years. They point out that Airbnb is shedding about 40,000 listings monthly but gaining around 60,000, maintaining a net positive trend. They also suggest that this growth could see a shift if property managers fail to uphold a certain standard of professionalism, given the changing expectations of guests.Don't miss this episode for an in-depth look at the future of property management!~~~~Check out Breezeway:www.breezeway.io~~~~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 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 55

In this episode, Jamie Lane sits down with Taylor Marr, Senior Housing Economist at Airbnb. With eight years of experience at Redfin under his belt, Taylor brings a unique perspective on housing economics and the dynamics that govern long-term markets. Not to mention, he's an avid digital nomad who has called 15 cities home.Taylor dives into some underrated aspects of the housing market that might surprise you. For instance, even though people are moving away from big cities like LA and New York, demand for housing there is actually going up, not down. This is primarily because of zoning rules and other regulations that have historically slowed down market growth in major cities. But that's changing, with over a million new apartment complexes now under construction.Jamie and Taylor then explore the current housing affordability challenges amid rising inflation and high interest rates. Taylor notes that the landscape has shifted significantly over the past four years, and he anticipates further slowdowns in the housing market as both labor and GDP growth lose momentum. Contrary to widespread speculation about a looming housing collapse, Taylor suggests that people's commitment to retaining their low-interest-rate homes will stabilize the market. Currently, only 4 million existing homes are in active transactions, a remarkably low number, underlining that homeowners are keen to preserve their advantageous rates. Taylor adds that the market seems to be in a state of watchful waiting, keeping an eye on various potential triggers such as inflation, interest rates, geopolitical conflicts, and the upcoming elections.Finally, the duo turns their attention to the future of the mid-term rental market. Taylor sees potential for growth in this segment, fueled by increased work flexibility, the rise of remote work, and emerging regulations that limit short-term rentals but permit mid-term options.Don't miss out on this informative episode!~~~~Connect with Taylor:https://twitter.com/TaylorAMarrNews.airbnb.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 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 54

In this week's episode, Jamie sits down with Bram Gallagher, a fellow economist at AirDNA. Together, they unpack September's U.S. market data and share a pulse check on the industry as we navigate the year's final quarter.After August's industry-wide dips, September brought welcome surprises. Demand rose to 12.2%, and revenue increased to 15.1%, signaling that last month's downturn was more of a blip than a trend. However, we've now seen 19 months of continuous decline in occupancy, although recent figures suggest we're on the mend—moving from -4.2% to -1.2% compared to 2019 levels. ADRs are also bouncing back, with a 2.6% upswing.Jamie and Bram then set their focus on pivotal economic indicators, providing a rich context to understand the market’s trajectory. A robust job report keeps unemployment stable at 3.8%, which could prompt the FED to reconsider interest rates. Geopolitical tensions in the Middle East could exert pressure on energy prices, possibly leading to inflation. On a brighter note, as the U.S. dollar eases, we're witnessing a rebound in foreign travel—now accounting for 7.4% of total exports, up from 6.5% earlier this year.Jamie and Bram also shed light on upcoming indicators like the CPI report and what they mean for future occupancy rates.You won't want to miss this episode!~~~~September US Market Review:https://www.airdna.co/blog/airdna-market-review-us-september-2023~~~~Check Out 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 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 53

In this milestone episode, Jamie Lane sits down with co-host Paralee Walls, VP of Marketing at AirDNA, to celebrate the first anniversary of STR Data Lab. To celebrate, we've curated a special journey through the top 12 key industry topics that have captivated our audience over the past year.We kick off by revisiting the origins of the podcast, before debunking the widely circulated "Airbnbust" narrative. We also unpack the looming recession talk, and spotlight AirDNA's innovative new products along with the game-changing acquisition of Arrivalist. Our discussion then shifts to landmark events shaping our sector—from the introduction of NYC regulations and changes in cleaning fees due to customer feedback, to the noticeable decrease in investments driven by rising interest rates.Jamie caps off this special episode by laying out his predictions for what the landscape could look like in the year ahead.This isn't just another episode—it's a celebration of a year of insights, dialogue, and transformation in the short-term rental space. Trust us, you won't want to miss it!~~~~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 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 52

In this week's episode, Jamie sits down with Paralee Walls, co-host at STR Data Lab and VP of Marketing for AirDNA. Before diving into the August data, Paralee unpacks her Oktoberfest experience in Munich, which Jamie reveals saw a 30% surge in demand and a 20% increase in ADRs compared to last year.Although August sits squarely in the peak of summer travel, demand didn't sizzle as much as in July. We witnessed another month of declines: RevPAR dipped by 4%, and occupancy fell by 4.2%, reaching 60.4%. This marks the first time since July 2020 that we've dipped below past occupancy levels. However, Jamie notes that external factors, like the Maui fires and the hurricane in Florida, caused some travelers to adjust their plans, potentially skewing the data. Excluding those areas, we're still ahead of 2019 figures. Nevertheless, growth rates are showing signs of slowing—from 9.5% in July to 9% in August, when Maui and Florida are left out of the equation.Despite these trends, Jamie points out that there is no significant decline in fall bookings. On the international front, demand remains strong, but inbound U.S. travel seems to be tapering off, likely influenced by the U.S. dollar and metro-area regulations. While New York has seen a 77% drop in short-term listings due to new regulations, the city has experienced a 58% uptick in long-term stays, indicating that properties aren't going off the market.You don't want to miss this episode!~~~~August US Market Review:https://www.airdna.co/blog/airdna-market-review-us-august-2023~~~~Signup for AirDNA for FREE👇https://www.airdna.co/vacation-rental-data/app/register ~~~~Connect with Jamie on LinkedIn and Twitter: LinkedIn: https://www.linkedin.com/in/jamiehlane/ Twitter: https://twitter.com/Jamie_Lane ~~~~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 51

In this week's episode, Jamie Lane chats with Sean Breuner, CEO of AvantStay, about what's driving the company's rapid growth and where he sees the short-term rental market going in the next five years.AvantStay is part of a new generation of property management firms that have quickly become big players in the STR scene. Operating in 45 markets and around 120 cities, the company's aim is to bring hotel-level consistency and high-quality experiences to homes across the U.S. One of the challenges with OTAs like Airbnb and VRBO is the inconsistent quality of stays, and AvantStay aims to fix that. Data shows they've climbed to the top ranks of hospitality brands in the country when it comes to net promoter scores. Sean highlights the importance of consistent guest experiences in their quick rise to the top.As for the future, Sean shares his thoughts on the next five years in the STR market. He doesn't see travel slowing down and considers it a recession-proof business, especially in areas that are easy drives from big cities—places where AvantStay is looking to expand. Sean is optimistic about the industry growing steadily in the years ahead, as people continue to value experiences.You don't want to miss this episode!~~~~Visit AvantStaywww.avantstay.com~~~~Signup for AirDNA for FREE👇https://www.airdna.co/vacation-rental-data/app/register ~~~~Connect with Jamie on LinkedIn and Twitter: LinkedIn: https://www.linkedin.com/in/jamiehlane/ Twitter: https://twitter.com/Jamie_Lane ~~~~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 50