Afleveringen
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In this episode of the STR Data Lab, Jamie Lane sits down with Jodi Odlin, founder of Hospitable Hosts, a book series celebrating stories from the short-term rental industry. Jodi recently won the Rentalpreneur Award at the Shorty's and shares her journey from a hospitality background to becoming a successful short-term rental host. Hospitable Hosts is a trilogy featuring 40 authors in each book. These books aim to inspire and provide tips for new and experienced hosts by sharing their personal stories.
During the conversation, Jodi emphasizes the importance of hospitality in the short-term rental business, contrasting it with property investment-driven approaches. She also discusses how she leverages AI to manage her 15 properties from Australia and maintain a personalized touch for her guests. Jodi offers practical tips like partnering with local businesses to enhance guest experiences and maintaining high levels of communication and cleanliness. Jamie and Jodi also touch on upcoming projects, such as the Hospitable Host Sisterhood and Couples Books, and a hospitality accreditation program. They agree on the need for industry standards to improve advocacy and professional recognition.
Jodi concludes with a story illustrating that despite best efforts, not all guests can be pleased, underscoring the unpredictable nature of the business. The episode highlights the significance of community, hospitality, and adaptability in achieving success in the short-term rental industry.
You don’t want to miss this episode!
~~~~
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LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
~~~~
Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
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Episode 136 -
In this episode of the STR Data Lab, Jamie Lane and Scott Sage discuss travel trends and the latest insights from the Airbnb summer release. Jamie shares his exciting Memorial Day plans, heading to North Carolina for his grandfather's 95th birthday and then to Litchfield Beach in South Carolina for a large family reunion. They discuss Memorial Day travel data, noting that occupancy rates are almost identical to last year but achieved through different trends. There's a weakness in budget and economic travel but strength in upscale travel, especially in coastal destinations.
Jamie and Scott discuss the impact of economic volatility, including tariffs and stock market fluctuations, on travel bookings. They note a trend towards shorter booking windows and the challenges this poses for property managers. Jamie shares his experiences at the Airbnb summer release, highlighting Airbnb's new services aimed at competing with hotels. Both agree that while these services may not directly benefit hosts, they could grow the overall short-term rental market. April data showed a significant increase in demand, occupancy, and ADRs compared to March, attributed to the Easter shift. The discussion includes the impact of Canadian travelers and currency fluctuations on travel patterns. Domestic travel within the U.S. shows some pullback in overseas trips but remains robust. Jamie advises hosts to monitor year-over-year demand in their markets and adjust pricing strategies accordingly.
The episode concludes with Jamie emphasizing the importance of understanding booking windows, length of stay, and property profiles to optimize performance. Scott and Jamie express optimism about summer bookings despite the challenges.
You don’t want to miss this episode!
~~~~
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LinkedIn: https://www.linkedin.com/in/jamiehlane/
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~~~~
Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
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Episode 135 -
Zijn er afleveringen die ontbreken?
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In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, is joined by Justin Ford, Director of Short-Term Rental Safety and Certifications Program at Breezeway. Justin shares insights into his role and the importance of safety in short-term rentals. Breezeway, a property care and operations platform, supports professionalism and safety in the industry.
Ford explains the primary goal of using Breezeway for safety inspections, elevating standards, fostering community awareness, and aiding government efforts in inspections. He emphasizes the significance of safety standards and offers practical tips for property owners to ensure guest safety, including slip and fall prevention, furniture tip-over protection, and poison control. Ford recounts his background in the Coast Guard and as a firefighter, which shaped his expertise in safety. He discusses the need for safety regulations and the potential for federal or state-level laws to enhance safety standards in short-term rentals.
Ford also addresses the misconception that insurance alone is sufficient, highlighting the importance of proactive safety measures to prevent negligence claims. He shares stories of hosts using safety as a marketing point to attract more cautious travelers. Overall, this episode underlines the necessity of prioritizing safety in short-term rentals for guest protection and long-term property investment.
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~~~~
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~~~~
Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
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Episode 134 -
In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, speaks with Julie Marks, founder and executive director of the Vermont Short-Term Rental Alliance (VTSTRA). They delve into the significance of short-term rental regulations and advocacy. Julie shares her journey into short-term rental management and advocacy, which began when her local government considered shutting down vacation rentals. With no prior political experience, Julie realized she needed to get involved to protect her business and the industry. They discuss how regulations can impact short-term rental performance and investments, emphasizing the necessity for hosts to actively participate in shaping these regulations.
Julie recounts her efforts in organizing the VTSTRA, starting with an opinion piece and building a website to rally support. They discuss the diverse community within the vacation rental industry, including professional managers, individual hosts, house cleaners, and other service providers. Julie highlights the importance of collaboration and breaking down competition to strengthen the industry. Julie's advocacy extends to national efforts, including her involvement with VRMA's Government Affairs Council and the Right to Rent Collaborative. She underscores the need for sustainable associations at local, state, and national levels to ensure the long-term success of the industry. Julie encourages others to get involved in advocacy, whether through financial contributions or active participation, to collectively make a significant impact.
They conclude by discussing the balance between advocacy, personal life, and the importance of community support. Julie's contact information and resources for getting involved are also provided.
You don’t want to miss this episode!
~~~~
https://vtstra.org/
~~~~
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~~~~
Connect with Julie:
Email: [email protected]
Phone: 802-829-4024
Instagram: https://www.instagram.com/vtstra/
~~~~
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Episode 133 -
Join Jamie Lane, Chief Economist of AirDNA, and Ellie Mertz, CFO of Airbnb, as they discuss the latest announcements from the Airbnb 2025 Summer Release. This episode introduces new Airbnb services and experiences, a redesigned app, and future growth opportunities for hosts.
Learn how Airbnb aims to increase travel wallet share and enhance user engagement through improved affordability, quality, and social connectivity features. -
In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, is joined by Kerri Gibson, the CEO and co-founder of Chalets Hygge. Carrie shares the story behind the unique name of her company, which is inspired by the Danish concept of 'hygge,' emphasizing joy and contentment in life's simple moments.
Kerri discusses the accidental start of her short-term rental business in 2017 and how it quickly grew from one to six properties. She explains how her CPA background helped her in the analytical and creative aspects of property management. Kerri also highlights the importance of location and operational efficiencies in scaling her business. The conversation transitions into her recent venture into running a 17-room motel, noting the operational differences and new challenges.
Kerri touches on the importance of providing unique guest experiences and the decision to maintain an investor mindset while ensuring high operational standards. The discussion includes insights on managing teams, scaling thoughtfully, and leveraging technology and direct booking strategies. Kerri concludes by sharing her long-term vision and the potential for future expansions, emphasizing the blend of investment and hospitality principles that drive her success. Those interested in following her journey can connect through her Instagram accounts and LinkedIn.
You don’t want to miss this episode!
~~~~
https://www.linkedin.com/in/kerri-gibson-cpa/?originalSubdomain=ca
~~~~
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~~~~
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LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
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Instagram: https://instagram.com/airdna.co
Episode 132 -
In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, is joined by Rebecca Lombardo, a fractional CMO and marketing strategist. Jamie and Rebecca discuss the meaning of a fractional CMO and its role in the vacation rental industry. Rebecca shares her journey into the vacation rental space, starting as a CMO at True Place, a company specializing in photography and virtual tours for vacation rentals.
The conversation covers the difference between listing and marketing a property, including the importance of understanding your audience through market research. Rebecca explains how to generate demand by tailoring marketing efforts to resonate with guests and homeowners, rather than relying solely on platforms like Airbnb or VRBO. She emphasizes the value of data in determining where to focus marketing efforts, such as social media demographics and email engagement.
The episode also touches on measuring the success of marketing strategies through various funnel stages, from initial engagement to conversions. Rebecca advises hosts on the initial steps for developing a marketing strategy and highlights the significance of identifying and targeting a niche audience. The importance of building a brand that stands out in a crowded market is discussed, including the potential to attract both guests and homeowners. Jamie and Rebecca also explore strategies for owner acquisition, particularly within specific communities, and the advantages of organic growth through word-of-mouth. During times of economic uncertainty, Rebecca stresses the importance of maintaining marketing efforts to capitalize on future opportunities.
The discussion includes insights on organic and paid social marketing, as well as the benefits of investing in marketing during downturns. Finally, Rebecca provides her perspectives on engaging in effective marketing and adapting to changing market conditions.
You don’t want to miss this episode!
~~~~
https://www.linkedin.com/in/rebeccabredholt/
~~~~
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~~~~
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LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
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LinkedIn: https://www.linkedin.com/company/airdna/
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Instagram: https://instagram.com/airdna.co
Episode 131 -
In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, is joined by Bram Gallagher, Director of Forecasting at AirDNA. The duo discusses several pressing topics within the short-term rental industry and broader economic indicators. They begin by reviewing March performance and early April trends, noting a mixed story influenced heavily by recent tariff announcements. Despite a challenging 2023, 2024 saw positive momentum, particularly in mountain resorts benefiting from good snowfall. However, March presented a slight decline in demand growth and occupancy rates, partly due to a calendar shift with spring break and Easter moving to April.
Urban markets saw significant new listings, leading to a notable increase in supply, especially in cities like Jersey City and Newark, following New York's short-term rental regulations. Interest rates, inflation, and consumer confidence are discussed in depth. Bram notes a hesitant stance from the Fed to lower interest rates due to inflationary pressures. Employment remains strong, but consumer confidence and business sentiment have declined.
The discussion also touches on the impact of exchange rates on international travel, with Americans potentially favoring domestic destinations due to a weaker dollar against the Euro. Further, summer travel pacing shows positive trends in traditional vacation rental markets but sluggish demand in urban and suburban areas. Lastly, the episode delves into price evolution, with March showing smaller increases in average daily rates (ADRs) compared to January and February, highlighting affordability concerns amid economic uncertainties. Bram concludes with a look ahead, emphasizing the importance of monitoring layoffs and wage inflation as critical indicators for the economic outlook.
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~~~~
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~~~~
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LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
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Episode 130 -
In this episode of the STR Data Lab, Jamie Lane is joined by John An, founder of TechTape. The two share insights into navigating today’s volatile travel market. Jamie highlighted that 2024 is shaping up to be a more challenging year, with signs of softening demand in several U.S. markets. He pointed to Washington, D.C. as a key example, where government-related travel is slowing due to federal budget tightening. John emphasized that revenue management today is more about feel and adaptability than relying solely on hard data. He compared it to driving—requiring constant micro-adjustments rather than abrupt turns.
Jamie supported this idea, adding that operators who watch their pacing, ADR, and occupancy weekly or even daily are the ones staying ahead. John mentioned that too many small operators still use a “set it and forget it” approach to pricing, which is risky in the current environment. He explained that intuition should be paired with data to make smart, timely decisions. Jamie echoed that sentiment, noting that even in tough markets, success is possible with active monitoring and responsiveness. John said the best operators act like football coaches—adjusting their strategy based on how the “game” (market) is playing out, not just on a pre-written playbook.
Both speakers agreed that frequent check-ins—weekly or bi-weekly—on business performance are critical. John stressed that there’s no one-size-fits-all model, and pricing strategies need to be fluid. Jamie added that being proactive instead of reactive is a key differentiator right now. They concluded that the combination of consistent data review and strategic intuition is what separates good operators from great ones. Ultimately, staying close to the numbers while understanding the story behind them is the best path forward.
You don’t want to miss this episode!
~~~~
www.https://www.gettechtape.com/
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~~~~
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LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
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Episode 129 -
In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, chats with Bill Faeth, founder of Build Short-Term Rental Wealth and a 30-year real estate investor. Bill shares his journey into short-term rentals, which began in 2015 after a convincing conversation with an electrician friend. He describes transition from traditional real estate to short-term rentals by purchasing his first property in Gulf Shores, Alabama.
Bill provides insights into his investment strategy, influenced by the Pumpkin Plan book, and breaks down his unique approach to creating 'super properties.' He explains that successful investments rely on leveraging unique attributes like views, proximities, and amenities—elements that make properties stand out in specific markets. Bill emphasizes the importance of patience and the ability to hold out for ideal investments, rather than compromising on less optimal properties. The dialogue extends into financial advice, indicating that now, amidst market volatility, is a prime time for confident investors to make strategic buys, provided they understand both the cash flow potentials and potential depreciation of their purchases.
The conversation also delves into identifying markets that others may overlook, leveraging various data points to mitigate risks and maximize returns. Bill discusses the significance of outdoor enhancements and views, over just the property's internal features, to substantially boost earnings. He advises listeners on practical approaches like employing multiple data tools, grading properties strategically, and capitalizing on off-market opportunities to ensure investments align with long-term goals. The episode underscores the importance of thinking beyond conventional strategies by using comprehensive data and innovative planning for generating superior returns in short-term rental investments.
You don’t want to miss this episode!
~~~~
https://go.buildstrwealth.com/superpropertygrader
https://www.instagram.com/billfaeth73/
~~~~
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LinkedIn: https://www.linkedin.com/in/jamiehlane/
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~~~~
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LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
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Instagram: https://instagram.com/airdna.co
Episode 128 -
In this episode of the STR Data Lab, Jamie Lane, the Chief Economist at AirDNA, is joined by Andrew Keller, a short-term rental photographer and founder of ISOneedphotos. Andrew shares the importance of professional photography for short-term rentals, emphasizing how it can significantly improve booking rates. He outlines his journey into photography, starting from a young age and transitioning into short-term rental photography around December 2020.
Andrew highlights the common mistakes property owners make by using amateur photographs, noting that lack of professional photos can cost potential bookings. He discusses the evolution of his own photographic style, emphasizing the importance of providing a variety of photos, including drone shots, twilight shots, and interior shots from multiple angles. Andrew mentions how his extensive experience, which includes photographing properties in 22 different states and Costa Rica, has honed his skills. He believes in dedicating a full day to a shoot to capture the best light at different times of the day. He also offers advice on staging for short-term rental photography, stressing the importance of details like setting the dining table, filling the hot tub, and ensuring sufficient matching plates and utensils. Jamie corroborates the importance of professional photography, sharing personal anecdotes about how professional photos helped answer guest questions and lowered guest dissatisfaction.
Andrew provides tips for those considering DIY photography, such as holding the camera at light switch height and managing lighting. He advises on how to find a good local photographer by checking their recent work on Airbnb listings and stresses thorough preparation of the property before the photographer's visit, ensuring it is guest-ready. Andrew shares his future goals of investing in his own short-term rental property and talks briefly about his co-hosting experiences. He also offers contact details for those interested in his services and emphasizes his commitment to helping clients increase bookings through top-tier photography.
You don’t want to miss this episode!
~~~~
Andrew Keller Contact Info:
https://isoneedphotos.com/
423-316-1967
~~~~
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~~~~
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~~~~
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Episode 127 -
In this episode of the STR Data Lab, Jamie Lane, the Chief Economist at AirDNA, is joined by Bram Gallagher, Director of Economic and Forecasting at AirDNA, to discuss current economic uncertainties and their potential impact on the lodging industry. They delve into the new presidential administration and recent fluctuations in the stock market, which have introduced significant uncertainty.
Despite strong fundamentals in unemployment rates and GDP growth, consumer sentiment and the economic policy uncertainty index show signs of concern, with the latter reaching its highest level since COVID-19. A notable topic is the influence of tariffs, including their imposition and the ensuing trade wars impacting international travel. Canadian travel to the U.S. has notably decreased, with several flight routes canceled, significantly affecting markets with high Canadian tourist reliance.
Additionally, stock market volatility influences consumer spending through the wealth effect, potentially curbing leisure travel plans. The discussion also covers sectors like business travel, where cuts and price sensitivity have emerged. The participants conclude that current data still supports strong economic performance, but the downside risks necessitate vigilance over future metrics and trends. Concerns such as tariff impacts, inflation, and travel behavior shifts underscore the importance for lodging operators to stay informed and adaptable in their strategies.
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~~~~
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LinkedIn: https://www.linkedin.com/in/jamiehlane/
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~~~~
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LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
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Episode 126 -
In this episode of the STR Data Lab, Jamie Lane, the Chief Economist at AirDNA, and co-host Scott Sage, SVP of Marketing & Customer Experience, discuss short-term rental performance for February 2025. They start by noting strong overall demand, with a 5% year-over-year increase, although the first weeks of March showed a decline. Supply growth, marked at 3.9%, shows stabilization despite some markets seeing negative growth. They delve into detailed metrics like RevPAR, which rose 5%, and an ADR increase of 6%.
The conversation covers the impact of recent events like March Madness, the Super Bowl in New Orleans, and Beyonce's concert tour. Jamie discusses economic indicators, forecasting potential impacts due to factors like tariffs, taxes, and slowed government bookings, which could lead to declines in certain markets. They touch on internally-focused metrics like ADR and the repeat rent index, noting positive trends. Forward-looking, Jamie expresses cautious optimism for the short-term rental market's first half of the year, despite broader economic uncertainties.
The hosts emphasize the need for rental operators to stay vigilant of market-specific data, especially in light of potential travel slowdowns and macroeconomic concerns. Finally, they discuss March events like St. Patrick's Day and highlight the importance of local market expertise and constant monitoring of pacing data to adjust strategies effectively.
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~~~~
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LinkedIn: https://www.linkedin.com/in/jamiehlane/
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~~~~
Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
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Episode 125 -
In this episode of the STR Data Lab, Jamie Lane, the Chief Economist at AirDNA, welcomes Assaf Karmon, CEO and co-founder of Turno. The discussion dives into Turno's platform, which helps short-term rental owners find reliable cleaners, automate scheduling, and essentially autopilot their business. Assaf describes his initial venture into short-term rentals, emphasizing the challenges he faced, leading to the creation of Turno—a marketplace for vacation rental cleaners in multiple countries. Jamie shares his personal experience using Turno and highlights its efficiency in sourcing cleaners. They discuss the variance in cleaning fees and how Turno's vetting process helps in choosing the right cleaners.
The conversation also touches on features such as tracking cleaner projects, guest cleanliness scores, and creating a redundant team of cleaners for reliability. Assaf explains the importance of managing exceptions and maintaining a team for backup. They delve into automating various aspects of property management beyond cleaning, including maintenance and inventory tracking. Assaf also brings up an interesting customer success story that underscores the seamless automation provided by Turno. Jamie raises concerns about potential risks in automation, and Assaf reassures him with Turno’s support in crisis situations.
They discuss the range of Turno’s clients, from small hosts to large property managers, and Assaf shares insights on the highest cleaning fees and challenges in sourcing cleaners in specific markets. Assaf emphasizes the importance of using automation to save time and mental capacity, encouraging hosts to focus on bigger ventures. He concludes by sharing how to reach out to Turno and himself for further queries.
You don’t want to miss this episode!
~~~~
https://turno.com/
~~~~
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LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
~~~~
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LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
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LinkedIn: https://www.linkedin.com/company/airdna/
Twitter: https://twitter.com/airdna
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Instagram: https://instagram.com/airdna.co
Episode 124 -
In this episode of the STR Data Lab, Jamie Lane, the Chief Economist at AirDNA, and Eric Goldreyer, the CEO and Founder of Savvy. Eric shares his rich history in the vacation rental industry, dating back to 1995 when he and his wife founded bedandbreakfast.com. The website became the leading platform for bed and breakfast listings and property management software. Eric recalls his journey, from creating central reservation systems, to selling bedandbreakfast.com, taking time off, and eventually pioneering new ventures like Turnkey Vacation Rentals and Funair.
He highlights the pain points property managers face with high distribution costs and how the Savvy platform aims to address these issues. Savvy offers a fresh approach with a no-fee model, aiming to facilitate direct bookings for vacation rentals, thereby saving costs for property managers and guests. Eric delves into the company's strategy, including maintaining algorithms that ensure high-quality matches between guests and properties. He emphasizes the importance of providing great hospitality, managing distribution costs, and building repeat and word-of-mouth business.
The conversation takes a deeper dive into the competitive landscape, where Eric stresses that Savvy doesn't aim to replace OTAs but complement them by offering an alternative that reduces booking costs. Jamie and Eric also discuss the importance of effective direct booking sites for property managers and the evolving dynamics of website quality, revenue management, and the role of property managers. Eric concludes by envisioning a future where Savvy is successful, benefiting both travelers and property managers, and addresses the challenges and opportunities within the vacation rental industry. He provides insights into what new property managers should focus on, drawing from his extensive experience in the sector.
You don’t want to miss this episode!
~~~~
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~~~~
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LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
~~~~
Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
Twitter: https://twitter.com/airdna
TikTok: https://www.tiktok.com/@airdna.co
Instagram: https://instagram.com/airdna.co
Episode 123 -
In this episode of the STR Data Lab, Jamie Lane, the Chief Economist at AirDNA, and Scott Sage, SVP of Marketing, discuss the performance of the Short-Term Rental (STR) market in January. The episode highlights data from Airbnb, Booking.com, and VRBO's Q4 reports, revealing a 12-19% increase in nights booked across platforms. Jamie emphasizes the importance of being multi-channel listed to maximize bookings. Supply growth was reported at 4.3%, while demand growth surged to 8.9%, resulting in over 20 million nights booked, predominantly for spring break. Market dynamics in the U.S. showed record-high January bookings, with an Advanced Daily Rate (ADR) increase of 5% year-over-year. Despite inflation concerns, January provided a strong start, with higher booking volumes and pricing power.
The discussion extends into interest rates and their impact on the STR market, mentioning a slight decline in 10-year treasuries and 30-year fixed-rate mortgages. Specific market performance is dissected, noting strong demand in mountain and lake areas due to favorable weather. Additionally, small cities and rural markets experienced a 23% demand growth. Jamie also provides insights into challenges for standardized properties, urging hosts to differentiate through better amenities. Lastly, the episode addresses the continued impact of natural disasters like hurricanes and fires on bookings in affected areas, indicating a possible decrease in specific markets like Los Angeles and Maui. Jamie concludes with potential macroeconomic impacts, including government job cuts and cross-border travel trends between Canada and the U.S.
You don’t want to miss this episode!
~~~~
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~~~~
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LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
~~~~
Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
Twitter: https://twitter.com/airdna
TikTok: https://www.tiktok.com/@airdna.co
Instagram: https://instagram.com/airdna.co
Episode 122 -
In this episode of the STR Data Lab, Jamie Lane, chief economist at AirDNA, sits down with Jonah Hanig, CEO of Rove Travel. Jonah shares his journey from Chicago suburbs to New York City, his stint as an investor, and the experiences that inspired the founding of Rove Travel. He recounts how living in various Airbnbs during the pandemic was a mixed bag and spurred him to create a consistent luxury home rental marketplace.
The conversation delves into the challenges and strategies for ensuring high quality and service in luxury travel. Jonah explains how Rove Travel aims to bridge the gap between short-term and midterm rentals in New York, emphasizing that they started with a focus on midterm rentals in compliance with local laws. They discuss expansion into other luxury markets like the Hamptons, Aspen, and Southeast Florida, acknowledging the operational complexities involved. Jonah describes their distribution strategy, leveraging platforms like Airbnb, Vrbo, and their direct booking platform, Rovetravel.com. He highlights the importance of property quality and exemplary service, sharing anecdotes and challenges they faced in maintaining high standards.
The discussion also covers how Rove Travel differentiates itself from traditional rentals and high-end hotels, offering properties that justify their rates through superior service and amenities. Jonah sheds light on their homeowner strategy, emphasizing investment properties over primary residences. He explains that their business thrives on word-of-mouth, good results, and strategic market expansion. The podcast concludes with insights on the future of the luxury rental market and advice for prospective investors, emphasizing the importance of understanding market dynamics and leveraging asymmetric information.
You don’t want to miss this episode!
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Connect with Jonah and Rove Travel:
Linkedin: https://www.linkedin.com/in/jonahhanig
Instagram: https://www.instagram.com/rove_travel/
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Connect with Jamie on LinkedIn and Twitter:
LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
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Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
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Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
Twitter: https://twitter.com/airdna
TikTok: https://www.tiktok.com/@airdna.co
Instagram: https://instagram.com/airdna.co
Episode 121 -
In this episode of the STR Data Lab, Jamie Lane, chief economist at AirDNA, sits down with Catherine Rathcliffe to discuss recent developments affecting short-term rentals, especially in Canada. The conversation shifts from past topics like insurance and HR to focus on the significant news in Canadian short-term rentals. With the Trump's administration's proposed tariffs and heightened political tensions, both Canadian and American operators are feeling the impact. Rathcliffe, a repeat guest, brings her expertise on Canadian travel and economic implications. She reflects on the historical relationship between the U.S. and Canada, highlighting how the falling Canadian dollar and political tensions are affecting travel behaviors. She notes that 20 million Canadians visited the U.S. last year, making up a significant portion of international visitation, while Canadians represented 3% of U.S. demand in short-term rentals last year. The current environment promotes a sense of patriotism in Canadians opting for domestic travel, potentially influencing similar sentiments among Americans considering travel to Canada.
The discussion also touches on local regulations in Montreal and British Columbia, and their impact on the short-term rental market. Rathcliffe suggests that enforcement nuances and public-private collaborations play a role in how these regulations are implemented. As political figures change, upcoming elections could further influence travel and economic policies. Despite these challenges, Rathcliffe remains optimistic about opportunities in the short-term rental market, predicting continued change and emphasizing the importance of being mindful of family protectionism and economic decisions. Lastly, Rathcliffe encourages everyone to vote and ensure their voice is heard in these politically turbulent times.
You don’t want to miss this episode!
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Signup for AirDNA for FREE👇
https://app.airdna.co/data
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Connect with Jamie on LinkedIn and Twitter:
LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
~~~~
Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
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Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
Twitter: https://twitter.com/airdna
TikTok: https://www.tiktok.com/@airdna.co
Instagram: https://instagram.com/airdna.co
Episode 120 -
In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, interviews Brandy Canaley, COO of Roami and fellow GMH podcast host. They delve into the complexities and strategies of managing short-term rentals during major events such as the Super Bowl, Mardi Gras, and Taylor Swift concerts. Brandy shares her expertise on operations, pricing, and staffing challenges that arise when markets are near full occupancy. Roami operates about 800 units in urban environments like South Florida and New Orleans, where high ADR events are common.
They discuss the advance planning required for these events, from ensuring units are cleaned on time to coordinating with contracting agencies for extra help. Brandy emphasizes the importance of meticulous planning, setting proper expectations for guests, and managing last-minute bookings. The conversation touches on the impact of local regulations on short-term rental markets, using New Orleans as a case study. Additionally, Brandy talks about the need to balance high rates with guest satisfaction and how small gestures can enhance the guest experience. She advises smaller hosts to streamline operations and be prepared for higher clean-up requirements post-event.
The interview also covers tips for making rental listings stand out during high-demand periods. Brandy shares insights on managing listings' location descriptions and leveraging amenities to attract guests. She also highlights the importance of maintaining calm under pressure and rewarding staff after high-demand weekends. Finally, Brandy invites listeners to learn more about Roami's short-term rentals in Miami and New Orleans and to tune in to the GMH podcast for further industry insights.
You don’t want to miss this episode!
~~~~
Signup for AirDNA for FREE👇
https://app.airdna.co/data
~~~~
Connect with Jamie on LinkedIn and Twitter:
LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
~~~~
Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
Twitter: https://twitter.com/airdna
TikTok: https://www.tiktok.com/@airdna.co
Instagram: https://instagram.com/airdna.co
Episode 119 -
In this episode, Jamie Lane, Chief Economist at AirDNA, is joined by Dave Meyer, Head of Real Estate Investing at BiggerPockets, to delve into the intricacies of the housing market. The discussion touches on the dynamics of short-term rental investments and the broader housing market, highlighting why understanding these trends is crucial for investors. Dave reflects on the volatility of affordability and mortgage rates over the past year and the factors affecting home values. They also discuss the disparity between affordability and home values, noting that more Americans are spending a larger portion of their income on housing.
The conversation transitions to the rental market, where multifamily rents have decreased and single-family rents have remained stable, influenced by a surge in multifamily supply amidst a housing shortage. Dave suggests that while rent growth has stagnated, there might be bullish trends starting in 2026 as supply normalizes. They address the impact of institutional versus small investors in the current market landscape, pointing out a pullback in large-scale institutional investments, which opens opportunities for small, diligent investors. The concept of Build to Rent, where entire communities are developed solely for rentals, is introduced as an ongoing trend.
The discussion pivots to short-term rentals, emphasizing how small capital investments in amenities can yield high returns, contrasting with long-term rental strategies. Dave advises patience as a crucial strategy for 2025, as well as looking for properties with hidden value through creative improvements and zoning changes. The need for a localized approach in identifying investment opportunities is highlighted, along with the benefits of understanding infrastructural developments in certain areas.
The episode concludes with Dave encouraging listeners to leverage their unique advantages as small investors and emphasizing the importance of taking a long-term view on investments. For more insights, listeners are directed to BiggerPockets' resources and Dave’s podcast, On the Market.
You don’t want to miss this episode!
~~~~
Signup for AirDNA for FREE👇
https://app.airdna.co/data
~~~~
Connect with Jamie on LinkedIn and Twitter:
LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
~~~~
Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
Twitter: https://twitter.com/airdna
TikTok: https://www.tiktok.com/@airdna.co
Instagram: https://instagram.com/airdna.co
Episode 118 - Laat meer zien
