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Recap of 2021 for the STR Industry
Description
2021 has been a unique year for the short-term rental industry.
David Jacoby is the Cofounder and President of Hostfully, an all-in-one property management platform that helps STR hosts embrace automation and deliver an exceptional guest experience.
On this episode of Get Paid for Your Pad, David joins me to share his top takeaways from the Hostfully 2021 Hospitality Report, exploring where STR reservations are coming from and why some markets report more competition in 2021—while others report less.
Listen in to understand why cleaning and turnover management is an ongoing challenge and find out what short-term rental hosts plan to do to increase their revenue in 2022!
Topics Covered
Some STR markets report more competition in 2021 while others report less
- Secondary markets have more competition and increase in revenue
- Hosts in large cities have less competition (COVID, regulations)
What hosts count as their most valuable software tool in 2021
- PMS was largest category, especially among large property managers
- 56 different tools mentioned (e.g.: Zapier, Zoho, Canva, Trello, etc.)
What the Hostfully survey reveals about the value of dynamic pricing
- Large property managers use more and report higher income
- Losses significantly less among hosts using dynamic pricing
Why cleaning and turnover management remains a pain point for STR hosts
- Challenge to implement and track new cleaning protocols in 2020
- Shortage of good, reliable contractors in 2021
Connect with David Jacoby
Hostfully 2021 Vacation Rental Industry Stats Report
Email david@hostfully.com
Resources
Homes & Villas by Marriott International
Hostfully Studies, Trends & Industry Reports
Legends X 90-Day STR Accelerator
Email jasper@getpaidforyourpad.com
Sponsor
Hostfully [Discount Code PAD]
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