Short-term rentals data story Q1 2023 published by Transparent
This is termed as a ‘data story with animated chapters’ and is designed to be read online.
The article focusses on the performance of the short-term rentals sector during the first quarter of 2023 with key findings including:
- Just over half (52%) of global vacation rental inventory is listed solely on Airbnb, and once inventory listed on multiple platforms is included it is estimated that 73% of all properties can be found on the site
- Airbnb is particularly dominant in the USA whereas in Europe Booking.com is relatively far more important for listings
- Four-in-five hosts who listed on Airbnb in 2021 were still doing so a year later while 62% of those first listing in 2020 still did so last year
- Stays at Airbnb and Vrbo properties last 4.2 and 4.4 nights on average respectively, whereas for Booking.com the average length of stay is lower at 3.8 nights
- On average Airbnb bookings are booked 41 days ahead of the stay whereas for Booking.com the average is 66 days and for Vrbo 71 days
- With its listings mostly in Europe Booking.com sees peak demand in July and August for short-term rental check-ins, with January being the quietest month of the year
- The top five countries with the most short-term rental listings are USA, France, Italy, Brazil and Spain, with the UK in sixth spot
- Among the top 25 markets there has been a 30% increase in short-term rental listings since 2021
- Booked nights were up 16% in Q1 2023 compared with a year ago
- The average nightly rate for a two bedroom property in both the UK and Switzerland exceeds $200, but both remain more affordable than an equivalent property in the USA
- Average Daily Rates were up 11% on a year ago in the first three months of this year globally, but in the UK ADR was up 28% in March 2023 on a year before
- ADR for short-term rentals is still typically lower than that for hotels, but the differential is shrinking
- Bookings for Q3 and Q4 of this year are ahead of those for the equivalent quarters of 2022 at the same point in the calendar