AirDNA Reports Record US Rental Occupancy in March
Around the world: the latest news from AirDNA monthly reported a record short-term rental occupancy rate in the United States in March as travelers took advantage of the easing of restrictions and made their way to the beach.
According to the provider of short-term rental data and analytics, this March marked a return to travel as the United States saw occupancy rate rise to 60.9% for the month – the rate d highest March occupation on record.
Spring Break crowds flocking to coastal destinations were the main driver of demand in March, with the four highest occupancy markets coming from Florida. Sarasota recorded the highest occupancy rate of the 50 largest short-term rental markets at 77.2%, followed by Cap Corail / Fort Myers [75.2 per cent], Fort Lauderdale [74.1 per cent], Saint PETERSBOURG [73.5 per cent], and the Big Island, Hawaii [72.5 per cent].
Jamie Lane, Vice President of Research at AirDNA, said, “The high occupancy rates in traditional Florida Spring Break markets were not surprising. The most distinctive change we have noticed has been the 30% increase in occupancy in markets like Cape Cod and the Lower Hudson Valley.
“These markets typically experience a lull in demand until the summer, but due to their proximity to New York and Boston, they have become a sanctuary for city dwellers seeking a cool sea breeze, even before the sea breeze. relentless heat does not strike, ”he added.
Bookings made in March 2021 hit a new record, surpassing last month’s record high. With this unprecedented increase in future bookings in the first three months of the year, the months of April, May, June and July 2021 now have more requests booked than in early April 2019.
AirDNA CEO Scott Shatford said: “Looking at this data, we expect a record summer for the short-term rental industry. For the first time, we are seeing customers confident enough to book both short-term trips and plan further in June and July. “
As summer travel approaches and vacation homes peak in occupancy, additional supply is expected to be added to popular markets. Excessive demand and increased traveler confidence should also encourage customers to rediscover urban markets that fell out of favor during the pandemic, as they offer abundant supply and availability.