The Big Platforms & Earning Calls
Good Morning Hospitality
02/27/23
•38m
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Jamie Lane, Michael Goldin, and Wil Slickers get behind the mic to talk about the earning calls between the big platforms and hotel brands and talk about what they're all looking to invest in the future.
AirDNA’s Fact of the Week
What are the best places to invest in short-term rentals?
- Small and mid-sized cities continue to dominate the AirDNA Best Places to Invest list, which now features a regulation score from Revedy. This list features hidden gems with a focus on places with the highest profit potential.
- Who made it on the list?
- #1 - Fairbanks, Alaska - this location scored a 1/10 for regulation risk (meaning it’s very low risk). The average full-time STR earns $49K annually with an average daily rate (ADR) of $198.
- #2 - Evansville, Indiana - Home values in Evansville are relatively low at $116K. With an average daily rate of $129, full-time STRs can expect an average $27K of annual revenue. It also scored a 1/10 for regulation risk.
#3 - Rockford, Illinois - Its eclectic attractions allow the city to maintain an ADR of $175 and an average of $39K in annual revenue.
Show Notes:
- HFM Merch Store!
- 10% off for GMH listeners that use this link
- TravelNet joins GMH as an official sponsor! Click this link to check out their special offer for our listeners!
- AirDNA also joins GMH as a sponsor! Register for a free account, then search the market you want to purchase and enter the discount code: GMH20 at check-out!
Previous Episode
This Week In Hospitality with GMH!
February 20, 2023
•32m
From OTA booking increases to European Golden Visas coming to a stop/pause, we dive into more than your tipical topics this week and share our thoughts on the world of hospitality!
Industry News:
AirDNA’s #notabust Fact of the Week:
How did the Superbowl impact bookings in Phoenix?
- 48% more nights were booked than on the same weekend the previous year
- All that demand pushed average daily rates up to a whopping $747 (45% higher than the same weekend last year).
- What’s the takeaway?
- The Super Bowl effect helped STR owners in Phoenix garner a hefty premium for rates while maintaining strong occupancy.
Show Notes:
- HFM Merch Store!
- 10% off for GMH listeners that use this link
- TravelNet joins GMH as an official sponsor! Click this link to check out their special offer for our listeners!
- AirDNA also joins GMH as a sponsor! Register for a free account, then search the market you want to purchase and enter the discount code: GMH20 at check-out!
Next Episode
Is Banning People From Airbnb The Solution To Fraud?
March 6, 2023
•35m
With more and more conferences, the GMH crew is broadcasting from multiple locations as they dive into industry news and the main topic of Banning Guest from Booking Platforms.
Industry News:
- LMPM is acquired by Inhabit (link)
- Sonder layed off another 14% + stock hitting rock bottom to $.87 (link)
- STR Safety: Child dies of drug overdose in STR (link)
- Accor Co-Founder dies at 91 years old (link)
AirDNA’s Fact of the Week:
We pulled some data on when to get the lowest prices for STRs, based on lead times. On average it's best to wait 2-4 weeks in advance of the trip to get the lowest rate, though the median lead time in 2022 was roughly 33 days (down from 40 days in 2019), so if you wait until 4 weeks in advance of a trip to book, only half of the homes that were available are still available. On average, guests saved about 9% by booking 2 weeks in advance instead of more than 6 months in advance.
The only location type where we see any saving for last minute bookings (less than a week in advance) is in Urban locations, where lead times are the shortest, averaging 24 days in 2022.
Show Notes:
- HFM Merch Store! 10% off for GMH listeners that use this link
- TravelNet joins GMH as an official sponsor! Click this link to check out their special offer for our listeners!
- AirDNA also joins GMH as a sponsor! Register for a free account, then search the market you want to purchase and enter the discount code: GMH20 at check-out!
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