You can feel it in the air—economic concern is riding high with the consensus of many economic forecasters predicting at least a mild recession in 2023.
But there are a few bright spots, too. Data shows us that the vacation rental industry has more cause to stay optimistic than despair, as travel tailwinds still have the power to overcome economic headwinds.
With employment remaining strong and consumer interest increasingly turning to travel, the diverse and often affordable experiences offered by short-term rentals (STRs) will continue to draw crowds in 2023—both on the supply and the demand side.
In short, the performance forecasting isn’t quite on par with the stellar and even dramatic results the industry saw in 2021 and 2022.
But it’s clear 2023 will be a year of mature performance from an industry that recovered more nimbly than conventional lodging and recently reached all-time highs in supply, demand, and total revenue.
As always, thanks for being the best part of this show and please subscribe and leave us a review if you find value in what we are doing.
Cheers,
Shawn Moore
Founder, Vodyssey.com
Vacation Rental Revolution Podcast: Building Lifestyle & Financial Freedom With Short-Term Rentals