Short-Term Rental News Digest – December 2022

As we get ready to bid farewell to 2022, allow us to reflect upon the major events that have helped to shape the past year. Overall, 2022 was a very good year for the short-term rental industry. In fact, last month Airbnb revealed that it has recorded its best quarter yet. Clearly, travelers are more comfortable taking to the road again and eagerly making up for lost time.

Some of the highlights of the past year include: 

• New services on Airbnb
• A number of in-person events
• Renewed efforts to make travel more sustainable

In 2022, iGMS was also very busy. We, for example, integrated with Beyond, one of the leading dynamic pricing tools, and Operto Teams. Watch this space, because 2023 is also going to be a productive year, as always. 

Just like the team at iGMS, the short-term rental industry never sleeps. It might be December, a time that most slow down, but the industry is still delivering newsworthy headlines like these:

New STR Book Released

Mark Simpson, the founder of Boostly (an online hospitality training program), has published a follow-up book to his global bestseller, The Book Direct Playbook. His new book — The Book Direct Blueprint — will take a closer look at the structures and systems required to start a direct booking business. 

Aimed at property managers and hosts, it offers step-by-step instructions for how they can grow their short-term rental business and take it to the next level. In the book, industry leaders share their tips for a range of topics such as managing revenue, using a guidebook to improve the guest experience, and protecting yourself with the help of guest verification.  

The Book Direct Blueprint is available in print on Amazon or in audio form on Kindle.  

Another Smart Noise Monitor Enters the Market

PointCentral, a rental property automation company, has revealed that it will be launching a smart noise monitor tool aimed specifically at short-term rental properties. It will be integrated fully with the PointCentral platform which means that users will now be able to keep track of noise levels in addition to energy and keyless access.  

In short, the device (an easy-to-install, plug-in sensor) will measure decibel levels and inform property managers via alerts when the noise level exceeds the threshold and duration that they’ve determined beforehand. As it doesn’t record actual conversations, hosts can rest assured knowing that their guests’ privacy will be respected the entire time. 

Travel Trends for 2022 Recapped

According to data released by Airbnb, travelers flocked to pools, beaches, and iconic cities in 2022. Other popular categories that found favor among guests were cabins and lake houses. While the beach was a firm favorite, ski destinations and the countryside also made 2022’s Top 10. 

Another noteworthy travel trend to keep in mind when planning your calendar for next year is that longer stays are on the increase. According to Airbnb data, stays of 28 nights or longer have grown faster than any other trip length.  

Airbnb Increases Focus on Multifamily Buildings

Airbnb released an Airbnb-friendly Apartments program aimed at helping long-term renters in multifamily buildings that allow short-term rentals. Hosts and guests often encounter issues with buildings that prohibit short-term rentals. In some cases, hosts go so far as to instruct their guests to lie about their reason for visiting. 

This new program will let long-term renters search for multifamily buildings that allow Airbnb rentals. They can then reach out to the building management and partner with experienced hosts who’ll help them to get started. 

So far, for the past three months, nine nights per month were rented out on average via this program. This translates to an average of almost $1,000 in Airbnb and landlord fees for this time period. Currently, there are over 170 Airbnb-friendly apartment buildings listed across more than 25 US markets. 

Top Trending Destinations for 2023 Revealed

Turning its attention to the coming year, Airbnb has also revealed the anticipated top trending destinations for 2023. Perhaps surprisingly is that the list isn’t very Eurocentric. In fact, Málaga in Spain is the only travel spot that’s based in Europe. Both Brazil and Australia boast three destinations each, while New Zealand has two cities to have made the top 10. Bangkok which was ranked the top trending global destination in 2022 has dropped to fifth spot on 2023’s list, while Seoul in South Korea doesn’t even feature next year.  

Expedia Partners With Afterpay

Moving forward, Expedia users will be able to pay for their accommodation using Afterpay, a popular buy now, pay later (BNPL) solution. With this option, travelers can pay for their booking in four, interest-free payments over the course of six weeks. As part of their ongoing growth in creating advanced traveler technologies, Expedia revealed that they also plan on partnering with other brands down the line to offer their users more flexible payment options. 

Airbnb Ready to Clamp Down on Parties Globally

Airbnb has revealed stricter rules to help prevent unauthorized parties this New Year’s Eve. This will include restrictions on certain types of bookings in 11 countries. For example, guests without a good account history won’t be able to book an entire home listing for a one-night stay. There will also be heightened restrictions for new guests or those without positive reviews trying to book longer stays locally. 

These tougher restrictions were put to the test last year and delivered positive results. According to the platform, they believe that it helped to decrease party-related incidents over this period by more than half.