Short-term rental data story
The story of Q1 2023 in short-term rental data. Scroll to read through animated chapters on on the outlook, OTA platforms, industry growth & evolution vs hotels
Vacation rental supply has grown 30% across the top 25 countries
Inventory has seen a general upward trend across the top 10 supply nations since the post-COVID demand uptick, demonstrating the boost to the vacation industry.
This table shows the top 25 countries in terms of short-term rental property count - where does yours sit?
Across these top 25 countries there has been a 30% rise in short-term rentals since January 2021. Turkey leads the way with a 97% gain, whilst India, Poland, Canada and Colombia also exceeded 50% growth. Thailand is the only place where supply has shrunk.
Q1 demand is up 16%
All top nations are enjoying increased demand. Predictably, top supply nations such as the US attract the most booked nights. The exceptions are Australia and Canada, who break into the top 10 for demand, beating the larger supplies of Greece and Croatia.
Booked nights were up 16% in Q1 over Q1 2022. In contrast to and maybe partially attributable to its lack of supply growth, Thailand enjoyed the biggest jump in demand, with 64% more booked nights than in 2022, and Turkey is close behind on 63%. All nations showed demand growth except Switzerland where booked nights were stable.
Daily Rates have increased 11%
Nations see gradual but continued ADR growth in the aftermath of the pandemic, with somewhat specific but repeated seasonal patterns.
The United States is home to the most expensive 2bdr properties on average. Switzerland, the UK and Australia also pass the $200 per night mark. On the flipside, guests can stay in Poland, India, Brazil, Colombia, Argentina or Malaysia for under $100 per night.
ADR for 2bdr short-term rentals in Q1 has increased by 11% over 2021. In Croatia and the UK, owners and managers have increased their prices most, each recording a 28% increase over March 2021. Prices in Austria have fallen most (-8%).
Guest origin is shifting, specific and important
There is a general trend of domestic guests accounting for a lower share of demand across top markets since the travel resurgence; something that many businesses have had to adapt to.
Note that guest origin can be very seasonal in some countries. Particulary Croatia, Greece and Italy welcome much higher proportions of international guests during the summer months. Understanding traveler demographic data is always critical to travel organization performance and should not be overlooked!
The United States and Brazil capture by far and away the most domestic travel. On the contrary, Thailand, Austria, Indonesia and Turkey relied on over 80% international guests in Q1.
Professional inventory share is up 9%
This table ranks the top 25 supply nations by proportion of professional inventory. Denmark, Germany, Austria, and particularly Croatia show the highest degree of professionalization as of Q1 this year. Whilst those supplies at the top of scale are over two thirds professional, Brazil and Argentina at the extreme are only around a quarter.
This reshuffle now shows the table ranked by the growth in professionalization between Q1 2021 and Q1 this year. On average, inventory as of Q1 is 9% more professional than in 2021. Malaysia and Argentina have lead this charge, while the US, Turkey and India are seeing professionals managing less of their short-term rental supply.
Grow with vacation rental data
Transparent, an OTA Insight company powers effective decision-making around the short-term rental industry with business intelligence from 45 million Airbnb, Booking.com & Vrbo listings worldwide. Leading property managers, destinations, hotels, investors & more utilize our data & analytics solutions to shape their strategy & optimize performance.