We have created this new section so that you can access relevant information on
how the Coronavirus is impacting short-term rental markets globally.
Average length of stay in 2020 compared with 2019 shows a marked increase in longer-term stays.
Length of Stay Discounts
Discounts applied according to length of stay can give insights into strategy and pricing. In our first chart, below, we have identified the average percentage discount applied to each length of stay.
Next, looking only at 30 day stays, graph 2 shows the frequency of different discount ranges, with 10-15% discount being the most common.
Subsequently, we analysed the 30 day stay discount by the listing. Whilst we saw no significant difference in discount across number of bedrooms, listing type or between urban and leisure markets, discounts were seen to vary significantly geographically.
With short term rental bookings hit so hard by the pandemic, we have identified top distribution channels for those property managers who wish to explore alternative in the midterm rental opportunities.