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As the COVID-19 pandemic declines, more and more people are ready to take a break from their home environments and go on vacation!
Throughout 2021, we have seen plenty of changes as travelers continue to react to this fresh new chapter. Overall, short-term rentals are experiencing a steady increase in popularity while vacationers flock to southeast states to have a good time. We expect this to continue into 2022 as the pandemic winds down and vaccination rates increase nationwide. Read on to learn more about all the promising short-term rental trends we saw this year and what we can expect heading into 2022. 2021 Short-Term Rental Trends
Longer Stays are on the Rise
If there's one thing that proves travelers are eager to get back into gear, it's the fact that they are extending their stays. Since early 2020, stress has been at an all-time high, and people are ready to relax and get back to exploring new places. Naturally, this means they will want to take more extended vacations that provide plenty of time to rest, recover and soak up some fun. In 2021, 4-7 day bookings rose by 30% of all reservations. While quick overnight stays are still abundant, short-term rental trends suggest that the tides are turning. Travelers are ready to expand their horizons beyond short, weekend-only trips. Florida is the Place to Be
Out of all the data concerning short-term rental trends in 2021, Florida stands out as a place of significant interest. Florida currently has the largest booking window, with vacationers booking an average of 44.7 days in advance. Longer booking windows also tend to indicate longer stays.. Take one look at our short-term vacation rentals on Sanibel Island, FL. You will understand why the Sunshine State is one of the most popular vacation destinations in the United States. Traveler Confidence Is Increasing
Over time, travelers grow confident in the surety of their stays, and short-term rental trends reflect this development. For example, when the pandemic took hold, booking windows declined in March 2020 by -10 days. People were unsure of the future and decided to put off booking for the time being. Now booking windows are on the rise again. August and September of 2021 had remarkably high booking windows for months that generally declined with the return of school and the change of season. More travelers feel comfortable booking well in advance without worrying about cancellations or whether or not their stay will be delightful. Short-Term Rentals Win Out Over Hotels
You'll be happy to hear one fact that's especially exciting: travelers are continuing to seek out unique stays that defy the norm. An increasing average daily rate (ADR) suggests that short-term rentals are becoming the first choice for vacationers. For example, from June to August of 2021, the ADR went up 30% compared to the same timeframe in 2019. Thus, short-term rental trends show that vacationers want a place with personality over a mass-manufactured hotel brand. In addition, while many people are making plans to get out and enjoy traveling post-COVID, they are also likely to choose short-term rentals. This is due to a heightened focus on sanitary practices that large hotels can't always guarantee. What 2022 Will Bring
Although nothing is set in stone, we anticipate that 2022 will bring more positive signs of recovery for the vacation rental industry. Most research suggests short-term rental owners should expect a complete recovery by 2023. Not only is this excellent news, it means that in 2022 we will see traveler confidence continue to increase gradually. Considering things are already improving steadily (longer stays, increased booking windows, etc.), the future of the short-term rental industry is bright. How Kingfisher Vacation Rental Management Can Help Prepare You For 2022
With the short-term rental industry on the road to recovery, there is a considerable increase in the potential for bookings. For a short-term rental owner, this means you will need all hands on deck. Luckily, Kingfisher Vacation Rental Management Services offers you just that and more. Kingfisher Vacations manages every aspect of your vacation rental for you, from listing your property to managing your bookings and everything in between. At Kingfisher Vacations, we are dedicated to providing exceptional service to both guests and homeowners that goes far beyond the reservation process. To learn more about Kingfisher Vacation Rental Management Services, visit our website, email us at info@gokingfisher.com or give us a call at 239-472-2100.
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