Hotels vs. Short-Term Rentals with Isaac Collazo

In this week's episode, Jamie sits down with Isaac Collazo, VP of Analytics at STR. Isaac is a veteran in the hotel industry and has worked for various major hotel brands over the years. The two discuss the differences between hotels and short-term rental companies, as well as their future prospects.

Isaac notes that the hotel industry is starting to normalize, with metrics approaching their 2019 levels. Demand is only 1.6% lower year-to-date compared to 2019, and daily room bookings are just under 3.6 million, similar to figures from that year. Occupancy stands at 63%, rate growth is returning to normal, and seasonal travel patterns are resurfacing. Although outbound U.S. travel currently exceeds inbound travel and business travel hasn't fully recovered, the trends are positive.

A major concern on everyone's mind is the potential impact of a recession. Isaac believes that due to current interest rates, we may see limited supply growth over the next 3-4 years. While he anticipates a slowdown in business travel, he doesn't expect it to decline significantly. Even in the event of a recession, Isaac's forecast still predicts an increase in RevPAR (Revenue Per Available Room) for the next three years.

The industry is ever-changing, but Jamie and Isaac share their forecasts for the future of both vacation sectors. 

You don't want to miss this episode!

~~~~

Signup for MarketMinder 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 47