With the vacation rental industry being at the forefront of the COVID-19 fallout, it is more important than ever that we continue to support each other. We wanted to do our part, and so Transparent have put together a free global market analysis report to ensure that you have the insights to inform the right decisions at this unpredictable time.
To learn more about our full free data provision for COVID-19 impact, click here: publications.seetransparent.com/coronavirus-impact-tracker/ OR here: publications.seetransparent.com/covid-19-cancellation-trends/
Check rates, occupancy, demand cancellations and supply for your area and stay on top of the situation. You can access this short term rental market intelligence report right here: seetransparent.com/coronavirus-impact/vacation-rental-market-impact-report
In each instance, you are able to click the example image to access the dynamic data studio and check your own market.
Year on Year Demand Change
In our first section, you are able to track how short term rental demand in your market is faring relative to the same period of time last year. In the example above we can see that Madrid suffered a significant downturn on the cusp of March, and despite a brief spike through 6/7th March, occupancy is now tracking in the low 20% where last year it was exceeding 60%.
Year on Year Occupancy Change
Our second chart tracks the % change in vacation rental occupancy between 2019 and 2020. Check the figure for your market and compare the impact and trajectory with any other market. Below we have added Paris in order to benchmark Madrid. You can see that by April 7th, both European capitals were sitting at -77% occupancy compared with the same time last year.
Here we explore some US markets in terms of the cancellations they have experienced in their short-term rental stock over the last 2 months. With % describing the ratio of cancellations to reservations, anything >100% indicates and excess of cancellations. The pitches of the cancellation curves have varied somewhat, but the shapes have been similar, with a 60% cancellation ratio on average as of April 7th. This suggests that 60 cancellations have been made for every 100 bookings.
Our rate evolution graph illustrates how the advertised ADR in your selected market(s) has fluctuated throughout 2020. In the above example we have selected Hawaii big island, Edinburgh, Chamonix, Athens and Toronto. Click the graphic to explore markets of your choice.
Key Players in your Market
Below is a breakdown of top ranked professional property mangers in London and their STR listing count. Through the interacted data studio you can select any number of markets to view the top PMs, but only the top 2 or 3 players are visible to those without a Transparent subscription (you can find out more about this at the button a the end of this article).
Supply Growth in your Market
In our final visualisation, you are able to see the VR supply growth by platform for one selected market, in this case New Orleans, throughout 2020. In New Orleans we can see that there was a dip in growth through the end of March, but there has been some recovery through the beginning of April, with growth up generally from February. Airbnb seems to be the platform accounting for the bulk of the fluctuation, but growth has ultimately increased across all 3 OTAs.
Please visit the full interactive report right here:
Contact us at firstname.lastname@example.org if your market is not available to you and we can see what we can do to help. Or you can book a personal demo of the full Transparent dashboard, which aggregates a wealth of market intelligence to inform your vacation rental decisions in rates, distribution, marketing, prospecting, operations and more. Just click here: