The global short-term rental market is a rapidly growing industry, with an estimated value of $138.3 billion in 2021 and 1.95 million active vacation rental listings in the United States alone as of 2019. Short-term rentals (less than 6 months) make up 20% of the entire rental market globally, and have seen impressive growth over recent years due to their convenience for travelers looking for accommodation options outside traditional hotels or resorts. In this blog post, we will explore some interesting statistics about short-term rentals from around the world that provide insight into how they are being used by guests and hosts alike during 2020 despite the COVID-19 pandemic.
We'll look at metrics such as Average Daily Rate (ADR), satisfaction rates reported by guests using these services, booking patterns throughout 2020 compared to previous years, revenue per available room (RevPAR), occupancy rate trends among pet friendly properties versus non pet friendly ones, Superhost status on Airbnb's platform generating more revenue on average compared to other listings without it; plus many more.
Short-Term Rental Statistics Overview
Short-term rentals (less than 6 months) make up 20% of the entire rental market globally.
This statistic is a testament to the growing popularity of short-term rentals, indicating that they are becoming an increasingly important part of the global rental market. It is a clear indication that short-term rentals are becoming a viable option for those looking for a place to stay, whether it be for a few days or a few months. This statistic is an important one to consider when discussing the current state of the short-term rental market and its potential for growth.
Metros with the highest Average Daily Rate (ADR) for short-term rentals in 2020 were Napa ($435), Aspen ($395), and Maui ($324).
This statistic is a telling indication of the short-term rental market in 2020. Napa, Aspen, and Maui had the highest Average Daily Rates, indicating that these locations were in high demand for short-term rentals. This could be due to their popularity as vacation destinations, or it could be a sign of a strong local economy. Either way, this statistic is an important piece of information for anyone looking to understand the short-term rental market in 2020.
In 2019, the average satisfaction rate reported by guests using short-term rentals was 90%.
This statistic is a testament to the success of short-term rentals in providing guests with a satisfactory experience. It shows that the majority of guests are content with their stay, which is a strong indication that short-term rentals are a viable option for travelers. This statistic is an important piece of evidence that should be included in any blog post about short-term rental statistics.
Around 68% of short-term rental bookings in 2020 were made within 30 days of the check-in date.
This statistic is a telling indication of the growing popularity of short-term rentals. It shows that more and more people are turning to short-term rentals for their accommodation needs, and that they are doing so with increasing frequency. This statistic is a testament to the convenience and flexibility that short-term rentals offer, and it speaks to the growing demand for these types of accommodations.
In the United States, the average revenue per available rental (RevPAR) was $71 in 2020, a 32.2% decrease from 2019.
This statistic is a telling indication of the impact of the COVID-19 pandemic on the short-term rental industry. It highlights the significant decrease in revenue that rental owners experienced in 2020, and serves as a reminder of the economic hardship that the pandemic has caused. It is an important statistic to consider when discussing the state of the short-term rental industry.
Urban short-term rentals experienced a 47.1% decline in bookings compared to 2019 due to the COVID-19 pandemic.
This statistic is a stark reminder of the impact the COVID-19 pandemic has had on the short-term rental industry. It highlights the drastic decline in bookings that urban short-term rentals have experienced, and serves as a warning to those considering investing in the industry. It is a powerful reminder of the need to be prepared for unexpected events and the importance of having a plan in place to weather any storm.
The average short-term rental stay during 2020 was 4.2 nights.
This statistic is a telling indication of the impact of 2020 on the short-term rental industry. It shows that, despite the pandemic, people still chose to stay in short-term rentals for an average of 4.2 nights, suggesting that the industry was still able to provide a safe and comfortable environment for travelers. This statistic is an important piece of information for anyone looking to understand the short-term rental industry in 2020.
In 2020, 80% of guests searching for short-term rentals prefer entire homes or apartments over shared spaces.
This statistic is a powerful indicator of the current trend in short-term rental preferences. It shows that the majority of guests are looking for entire homes or apartments, rather than shared spaces, when searching for short-term rentals. This information can be used to inform decisions about the types of properties to invest in or the types of services to offer in order to meet the needs of the majority of guests.
53% of property managers expect short-term rentals to bounce back stronger in 2021 due to the vaccine distribution.
This statistic is a beacon of hope for the short-term rental industry, indicating that the majority of property managers are optimistic about the future of the industry in 2021. With the vaccine distribution underway, it appears that the industry is on the path to recovery and that the outlook is positive. This statistic is a testament to the resilience of the short-term rental industry and provides a much-needed boost of confidence for those involved.
As of 2019, about 60% of all short-term rentals acquired bookings through online platforms like Airbnb or Vrbo.
This statistic is a telling indication of the power of online platforms in the short-term rental industry. It demonstrates that the majority of short-term rental bookings are now being made through online platforms, highlighting the importance of having a strong online presence for short-term rental owners. This statistic is an important reminder that in order to stay competitive in the short-term rental market, owners must ensure that their properties are visible and accessible on the most popular online platforms.
In 2019, Airbnb accounted for approximately 69% of the global online short-term rental market share.
This statistic is a testament to the immense success of Airbnb in the short-term rental market. It highlights the company's dominance in the industry and its ability to capture a large portion of the market share. This statistic is important to consider when discussing the current state of the short-term rental market, as it provides insight into the current market leader and its influence on the industry.
About 36% of hosts are older adults (between 60 and 90 years old) managing short-term rentals.
This statistic is significant in the context of short-term rental statistics because it highlights the fact that a large portion of hosts are older adults, indicating that short-term rentals are becoming increasingly popular among this demographic. This could be due to the fact that older adults may be looking for additional sources of income or may be looking for a way to supplement their retirement income. Additionally, this statistic could be indicative of the fact that short-term rentals are becoming more accessible and easier to manage, making them a viable option for older adults.
67% of short-term rental owners expressed that they plan to invest in improving their listing in 2021.
This statistic is a telling indication of the commitment of short-term rental owners to their business in 2021. It shows that the majority of owners are willing to invest in their listings, suggesting that they are confident in the future of the industry and are looking to capitalize on the opportunities it presents. This statistic is an important piece of information for anyone looking to gain insight into the short-term rental market and its potential for growth.
54% of travelers who have booked short-term rentals in 2019 report that their experiences met or exceeded their expectations.
This statistic is a testament to the quality of short-term rental experiences, indicating that the majority of travelers who have booked short-term rentals in 2019 have been satisfied with their experiences. This is an important statistic to consider when discussing short-term rental statistics, as it provides insight into the overall satisfaction of travelers who have used this type of accommodation.
In 2019, short-term rentals with a Superhost status on Airbnb generated 22% more revenue on average compared to non-Superhost properties.
This statistic is a testament to the value of Superhost status on Airbnb. It demonstrates that Superhosts are able to generate significantly more revenue than non-Superhosts, making it a worthwhile investment for those looking to maximize their short-term rental income. This information is invaluable for anyone considering investing in a short-term rental property, as it provides a clear indication of the potential returns that can be achieved.
The short-term rental market is a rapidly growing industry with no signs of slowing down. In 2021, the global short-term rental market is expected to reach a value of $138.3 billion and there are currently around 1.95 million active vacation rental listings in the United States alone. Short-term rentals (less than 6 months) make up 20% of the entire rental market globally and have an average satisfaction rate reported by guests using them at 90%.
Metros with the highest Average Daily Rate (ADR) for short-term rentals in 2020 were Napa ($435), Aspen ($395), and Maui ($324). Around 68% of bookings made within 30 days from check-in date while urban areas experienced 47.1% decline due to COVID pandemic, but 80% still prefer entire homes or apartments over shared spaces when searching for accommodations online platforms like Airbnb or Vrbo which account for 69%, respectively, out of all digital platform shares worldwide; 36 % being older adults between 60 -90 years old managing their properties themselves without property management companies spending on average 36 hours per month doing so as well as investing 67 % into improving their listing this year expecting it to bounce back stronger due to vaccine distribution having 54 % travelers reporting that experiences met/exceeded expectations 22 % more revenue generated by Superhosts status compared non superhosts ones plus 10 -20 higher occupancy rates offered pet friendly counterparts.
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