Short-term rentals in the U.S. have been on a steady growth trajectory over the past decade. But as the coronavirus upended nearly all travel in 2020, short-term rentals also felt the impact.
A few companies operating in the space shut down while others downsized. Homeowners and hosts pivoted to serving long-term renters. Some changes wrought by the pandemic seem set to remain.
The short-term rental ecosystem needs to know which trends will stay and which ones will fade as it prepares for the future.
Since 2013, Phocuswright, the leading travel industry research firm, has conducted several pioneering research studies sizing the short-term rental market, analyzing consumer and industry trends, and exploring the rise of digitalization and the professionalization of this segment.
The most recent study, Here to Stay: U.S. Short-Term Rentals Move Mainstream, showed that gross bookings increased at a CAGR of nearly 6% from 2017 to reach $34B in 2019 driven in part by changes on the supply side and increasing demand from older travelers.
Now, as travel resumes, Phocuswright is aiming to understand the shifts in the U.S. short-term rental marketplace and the developments which will define this important segment of the lodging landscape. The study will take an in-depth look at the impact of the pandemic on revenues and the projected recovery, changes in traveler preferences and the evolution of property management among other topics.
As part of the study, Phocuswright is conducting a 15-minute survey of U.S.-based short-term rental property managers to understand the marketplace and study key property management trends.
Take the survey!
Property managers who qualify for and complete the survey will receive the results of the study and have a chance to win one of three $50 Amazon gift cards drawn at random from survey respondents. Responses are kept confidential and used only to determine trends.