The Rollercoaster Ride of the Short-Term-Rental Market

The short-term-rental market has experienced its fair share of highs and lows in recent years. The pandemic-induced travel restrictions in early 2020 hit owners, hosts, and property managers hard, as bookings on platforms like Airbnb and Vrbo came to a standstill. However, as the hunger for adventure and the rise of remote work took hold, the demand for unique stays skyrocketed, leading to a record number of nights booked nationwide. This surge in interest attracted new investors to the market, but it also resulted in increased competition and a dip in host revenue in 2023.