Where should I Invest in Vacation Rentals

00:00.00

strdatalab

Well hello jamie lane vp of research at Air Dna I I don't know if you knew this but we're we're in the Sdr Data Lab did you? Yeah, do that we're back. We're here we're in the lab we're cooking up some hot stats. We're mixing together.

00:09.30

Jamie Lane

Um, for back.

00:18.90

strdatalab

Different metrics I'm stopping. This is not going to these are analogies that aren't going to work out for us. Um, but I I am I'm excited to talk to you today about a report. We just released we did mix up some metrics and put them together and come up with some insights. Um, but I think you're just being cheeky with us Jamie Lane at this point. Because we just we recently released our best places to invest best places to invest report now you're coming in with the hotness. This is the hottest markets for the us short term run and short term rentals report. What gives man, what's the difference between best and hottest. What's happening.

01:00.10

Jamie Lane

If you remember when and first off hi Mariah it's Vp of marketing at their Dna. Ah thanks for having me here today in the Sdr Data Lab I am

01:02.77

strdatalab

Oh hi my hello I'm Mariah.

01:15.81

Jamie Lane

Ah, certainly happy to be joining you here on this wonderful monday.

01:18.90

strdatalab

I am always happy to be joining you in the Sdr Data lab or wherever we are together.

01:27.14

Jamie Lane

So if you remember back to when we recorded this our podcast I don't remember which one it was but maybe we can drop that into the show notes. Ah I really disliked the best places to invest the list.

01:34.48

strdatalab

Yeah editor no to Editor.

01:42.93

strdatalab

In who yup.

01:45.50

Jamie Lane

Ah, and it wasn't necessarily that I did not think that they weren't great markets to invest in. They just didn't reflect where people were actually investing Today is it. It was a good mix of like.

01:58.44

strdatalab

Oh yes.

02:04.40

Jamie Lane

Small towns like it was broadly areas where home values weren't really increasing ah revenues had been staying roughly the same and and in terms of the math of investibility it like was calling out like hey you should be investing in these markets. But.

02:21.40

strdatalab

Yes.

02:23.96

Jamie Lane

And there's only so many people that can invest in Ellsworth Maine or Fairbanks Alaska um so

02:30.39

strdatalab

Yeah, yes, that is true that is that is true. Okay, this is great I Love this. So okay, so best places to invest this was where potentially you should be investing based on what's realistic. Okay.

02:43.80

Jamie Lane

Right? And now hottest markets to invest is where people are actually investing.

02:53.75

strdatalab

Ah ha Ah ha. So this is where the people the people are investing. Okay, so um I feel like there's a loaded part of this which is like but where should you invest we're going to get into it. We're going to get into it.

03:07.13

Jamie Lane

And I'll I'll caveat that it's where they are investing or maybe investing in the future.

03:15.55

strdatalab

Oh I love this, you're building the intrigue you're building the intrigue. Okay, so you talked about the methodology for best places to invest which was a lot more about you know outside factors like housing prices and travel demand that sort of was slow and steady. Where listings were supply wasn't you know, cuckoo bananas. It's a technical term that my four year old has come up with cukoo ban. Um, talk to me about what what was the methodology. How did you sort of develop this list this hottest. Hottest markets for investment or where people are investing.

03:52.12

Jamie Lane

Yeah, so for this for this analysis. We looked at 3 different metrics. We started with supply growth. So how many short-term rentals were actually being added net new into this market as a percent change from the prior year.

04:10.60

strdatalab

Oh a.

04:11.86

Jamie Lane

So where's the fastest growth happening today in terms of um, ah listing additions. Ah second and I think this is maybe 1 of the more interesting metrics and unique ones out there that really only we have is search interest.

04:28.20

strdatalab

Yeah, yeah.

04:31.69

Jamie Lane

Ah, so um, we've got a tool ah which I know you all know about. But I'll explain for our listeners called Rentalizer ah where you can put in any address in the world and it will tell you.

04:38.49

strdatalab

Yes, yes.

04:48.87

Jamie Lane

What that home could earn as a short term rental. It'll show you the revenue potential of that property. It'll show you how that revenue potential has changed over time so over the past two years how is that revenue potential is it increasing as it decreasing. And then what is the variability of that revenue over throughout the year so you can get a sense of and is it highly seasonal. Is it pretty consistent. What what would be the revenue. You'd be earning um each month. Ah so what we did was we took.

05:21.22

strdatalab

Um, and.

05:24.76

Jamie Lane

All those searches to give us a indicator of investor interest in that market. So that's our indicator of future investment. Ah in short term rentals in each of these markets.

05:40.39

strdatalab

This is pretty This is pretty dang smart using our own data. Yes I Love this? okay.

05:46.50

Jamie Lane

Um, well Mari it's all ah all our data.

05:52.70

strdatalab

Fair point fair point our our first party Gen like we generated. Yeah, how not where I do I don't know if the audience really wants to learn about first party versus second party versus third party data but hey we could put it in the show notes editor will put it in the.

05:58.31

Jamie Lane

Um, first Hydrogen added data. Yeah.

06:09.93

strdatalab

But notes for anyone who is curious.

06:13.40

Jamie Lane

Um, and then finally pricing growth. Ah so this was a um factor that we thought to put in. Given with all the supply growth that's been coming in and a lot of that if it's not being readily absorbed. It can sort of um, show up and sort of weaken Weaker pricing power and specifically adr is going down so we just want to give a sense of. Ah, which areas we're still seeing Adr growth. Um, even all the while seeing ah relatively strong hotness on the supply side.

06:49.63

strdatalab

Oh my goodness all right I love this. So so very different methodology I like the idea of sort of like shifting from profitability to popularity and thinking about the popularity in those sort of like 3 different metrics.

07:00.85

Jamie Lane

This is.

07:07.91

strdatalab

Okay, all right? Well you know Jamie I think there's a little there's something that I've been hearing lately and I think we should address it I think we should address it live in the air. But I mean we're bold. We're brave. We're authentic. So one of the things I've been hearing is that rentalizer. People question and wonder how the heck can we feel so confident about that profitability score what? What would you answer to somebody who might be um, a little bit. Um skeptical. Let's call it the skeptics in the audience.

07:42.49

Jamie Lane

Yeah, and one is I would never trust a data point without understanding what goes behind it. Ah, and so you you and and it's good to.

07:49.36

strdatalab

Yes, yes I love that I take.

07:59.24

Jamie Lane

I know the detail behind Rentalizer um, and that's where yes people can use rentalizer as a free tool. Um and not have to subscribe to it and we give people a number. Ah, and. And this may change in the future. But right now if you want to see the detail of what properties go into that. Um, score you have to be a paid subscriber to rentalizer and when you sort of unlock that additional detail.

08:28.38

strdatalab

Fair enough.

08:36.60

Jamie Lane

You're then going to need. You're going to be able to see every property that goes into um that that um, that figure that ah revenue potential figure. Ah, and when you see that detail. And let's say it gives you anywhere between 6 and 12 properties that are being used to average together to get that rentalizer estimate. You're then going to be 1 first thing I do is look at the relatively relative variability among those properties.

08:57.81

strdatalab

Okay.

09:08.00

Jamie Lane

If I see 12 different properties and they're all roughly $60000 I be like yeah I feel great about that 60000 number like every single property is roughly the same like yeah like great other times I click on rentalizer.

09:13.56

strdatalab

I.

09:22.49

strdatalab

Right? right.

09:26.95

Jamie Lane

And I get the list of property and their sum at 20000 some at 60000 some at a 20001 at thirty three hundred thousand like oh goodness like.

09:30.87

strdatalab

Um, yeah.

09:38.52

strdatalab

Um, you yeah, that's a very what what is that called in Data Analytics I don't know that's just that's not right.

09:41.42

Jamie Lane

Um, yeah I Ah and ah high ah covariance. So ah.

09:48.53

strdatalab

Oh thank you I Knew there was a definition now I got to put that in the show notes to jes. Okay, that.

09:57.16

Jamie Lane

Yeah, so so there I'm going to want to dig in a bit deeper and I'm going to want to see and it could be the sense or an example where ah the property I put in is not on the coast and let's say. A lot of the properties that it pulled back were actually directly on the coast and those were the ones earning one hundred and twenty three hundred thousand dollars like some of the higher ones. So I might want to go in and throw those out and say you know what? those aren't comparable to my listing then I go back in I'm like.

10:18.95

strdatalab

Form up.

10:31.79

Jamie Lane

Oh well once I get rid of those I see a much tighter circle around my property in terms of um, ah that they they look and have relatively the same amenities and the same benefits that would be impacting Adrs.

10:40.31

strdatalab

Relevance because yeah.

10:49.98

Jamie Lane

So Then I'd want to re averageage just those together and then and that's going to make me feel much more confident in the figure that's going into it. Um, so it's really getting comfortable with the comps and are we pulling back? Good comps are we not essentially all rentalizer. Is is a comp finder and it's going out and finding what we think are the relevant comps. There's some limitations to what we can know about the properties We don't always know whether it's beachfront or not we don't know whether it's um has the exact same amenities or not so. Really smart to go in and and look at each of those properties that we're pulling back and if there's ones that don't align and I would exclude those and then re average and and and and use that in your analysis as opposed to just the. The pure data point that we give.

11:46.81

strdatalab

I Love this? Okay, you are coming in hot with some good I think secret pro trips to using a tool like rentalizer right? and I think there's always that there's always that little nuance right? A Tool's only as good ah as the person using it now. Um Well a little bit. Ah, so I think I love this because and I think just for folks. Um, who may not be at quite as familiar right? like but generally like in real estate right? It's the same with a house appraisal. Super fun around tax season I Just got my latest you know, update on what my house is worth um and always you want you want that one to be lower. Ah.

12:20.69

Jamie Lane

Are.

12:23.91

strdatalab

But if you're selling you want to anyway? Um, but it's just you know you're pulling together comparable properties and understanding how much how they're performing a short term rentals and that's giving you a nice aggregate perspective. With our freemium tool which we know that people love and I think my favorite thing about that tool just to ne it out for a second. Um, apart from the fact that I think everyone in this business has probably used it is that folks are like oh my gosh I I maxed out on the free number of queries and I'm like that's 100 you have to search for a hundred properties before you max up. Ah.

12:57.38

strdatalab

So I love the people are leveraging this tool. Um, but yes you know again, there's the ability to customize that comp set so that you can feel a little bit more confident in the number and I also love the transparency behind it right? So if we're not hiding anything people can go in they can figure out what makes sense and what's most relevant to them. And more importantly I just love your nugget around. You know, don't trust any data point if you don't understand where it came from how it was sourced the methodology behind it. Preach Jamie Lane reach preach. Um all right sir. Okay, so let's go back to hotness. Let's go back to the hot test hotness summertime who's on this list then because I'm I'm now imagining this list is probably a little different from best places to invest we might be. We might find some surprises there people might be like wait a minute.

13:37.36

Jamie Lane

Um.

13:49.29

strdatalab

Where is Fairbanks Alaska

13:53.26

Jamie Lane

Yeah, and yeah, there is no overlap on the list. Ah so that that is the first thing. Yeah, that is the first thing that stood out to me was and just the different types of markets and.

13:57.72

strdatalab

There you go without and how spoilers.

14:09.84

Jamie Lane

In discussing with the research team as we're we're looking through um the list and um, wanting to give a sense of and one and it's not that we're saying these are bad places to invest. There's a lot of smart people investing in these areas and we want to give our readers and give the audience a sense of why are people investing in these markets given that they are so hot today is and there's 2 types of um.

14:38.14

strdatalab

Um, of that.

14:44.75

Jamie Lane

Investment theses I think a lot of people go in as one I Just want to follow the crowd if everyone's doing it like and it can't be that bad of an idea right? and then and and maybe it.

14:49.98

strdatalab

Row.

14:58.47

strdatalab

Um, that's that's how I'm wearing wide leg jeans again by the way like I was like I guess this is what we're doing now we're wearing wide leg jeans. Okay, that's what everyone's doing anyway. Carry on.

15:09.13

Jamie Lane

Are yeah following the trend. Um, yeah, and then there's the other one of bucking the trend of I'm going to do my own analysis I'm going to I trust in maybe my unique.

15:13.39

strdatalab

But following the trend. Ah.

15:23.86

Jamie Lane

View and that's maybe what you get a bit deeper into with our best places to invest where you can get a bit bit deeper into with our our ppd dashboard where you can like hone in on different variables that you think are most important and compare those ah across different markets.

15:30.43

strdatalab

Um, we have.

15:42.50

Jamie Lane

And sort of come up with your own investment theses and try to find like I'm your own. Um I'm your own sort of investment plan I'm in and and broadly I think you can get average returns following the trend. And you can get outsize returns. Ah maybe making your um own Theory. Ah, but also you have a high chance that maybe your your your thesis or um, the way you're bucking The trend doesn't ah ah also work out. Well so there's.

16:05.61

strdatalab

Are.

16:17.78

Jamie Lane

Maybe a ah bit more risk and in that as well. So.

16:18.86

strdatalab

This is like wearing my cat eye glasses. You know I'm bucking the trend and like everyone's wearing the glass Anyway I'm just going to keep bringing it back to the fashion I wanted to be able to close that analogy for people.

16:26.93

Jamie Lane

But so maybe we can come up with what the fashion analogy is for each and one of these markets as I called them out and you give me the equivalent of what is what is the fashion trend of of that city.

16:40.41

strdatalab

Um, oh oh gosh. Okay yeah I love this Oh my gosh. Okay, well yeah I mean let's go through a few of these because you're right? These are some highly trendy places.

16:46.33

Jamie Lane

Ah.

16:57.40

strdatalab

For sure.

16:57.50

Jamie Lane

Yeah, so one I wanted to call out and it was one of the hottest on and all the metrics we were looking at was the Phoenix Scottsdale area ah so this was one of the markets we saw by far um the most number of rentalizer searches. Ah, so ah, so in q one we had one point eight million searches on using our rentalizer tool so that that alone just blows my mind that there are that many searches happen that nearly two million

17:24.85

strdatalab

Um, same I know that's basically 2000000 I'm just going to raiseze that up 2000000 almost nearly 2000000

17:34.44

Jamie Lane

Ah, in the us um, and that's a note that rentalizer does work anywhere in the world. So this data is just looking at the us and then what was also important when coming up with this metric for hottest markets is is something we can um, use anywhere else. And the world too. So it's not reliant on any outside data points. So talking about using our own data so we will have a a hottest markets in Europe or hottest markets in um, Southeast Asia we can. We can come up with some some other versions this one too. Ah, but there are 90.

18:09.00

strdatalab

It will help.

18:12.78

Jamie Lane

Ah, 3000 searches in the first quarter just for phoenix so really strong market that over doubled the number from a year prior. Ah so strong indication that there's even more future interest of growth in Phoenix. And that to say that Phoenix was one of our fastest growing markets in q one so supply growth just over 60%. So um, really popular. Ah market. Ah, for ah.

18:37.70

strdatalab

Um, help me there.

18:46.70

Jamie Lane

Adding listings over the past year and searching for going forward.

18:51.76

strdatalab

Well I think I'm going to call this one. The crop top trend I think this is I feel like that's appropriate for a desert location and for bachelorette parties. Um, which I think is what's mostly happening over there. Okay guys. I apologize in advance to Scottsdale and phoenix I know you got a lot more to offer than just bachelor and voucher up parties. Um, felt. Thank you.

19:09.76

Jamie Lane

They also had the super bowl in q 1 which was a big trend for adding new supply and people adding supply sort of led to the super bowl bust that we we talked about what which was so much supply added in the lead up to the super bowl.

19:22.37

strdatalab

Um, please um.

19:29.10

Jamie Lane

Um, so definitely could have been a a factor there.

19:30.64

strdatalab

Yeah, absolutely I'm glad you brought it up because I want I was going to bring it up. Um, so yeah I would say I mean like for me who's bucking the trend again and I'm not wearing craft hos. Um I I don't know if I wouldn't. An error and in that particular part of Arizona I would maybe invest in other parts of Arizona but carry on that's just my perspective on it.

19:53.49

Jamie Lane

Yeah, so three out of the 5 markets and the um ah two out of the top 3 were in Texas and Texas has been a really hot state for new investment. Ah in short term rentals. Ah.

20:02.55

strdatalab

Um.

20:10.89

Jamie Lane

And a couple things happening there and 1 is just the amount of imigration. Um, so rising popularity of just living in Texas of visiting Texas of job creation happening ah still relatively affordable. Um, housing stock. Ah ah generating a decent yield um in in high occupancy like the demand that's coming in like is relatively being absorbed like it's one of my sort of and.

20:32.47

strdatalab

Um, right.

20:47.99

Jamie Lane

Favorite states for investment I've talked with some investors that they're like they weren't in Texas they went bought their first property in Texas and they're like you know what? I'm just I'm hanging out in Texas and adding more listings. Ah so ah, big, very popular so number 2 was Dallas. Um, Dallas was both big for existing investment and rentalized researches Houston number 3 um and then ah San Antonio number 5 in San Antonio I had done my first trip to San Antonio for verma what was that two years ago um that was our first verma ah, the vacation rental management association conference. Ah, we were hanging out downtown but actually in um.

21:28.80

strdatalab

Yes, yes, that was our first vermin together. Oh.

21:42.29

strdatalab

Um.

21:44.99

Jamie Lane

San Antonio some of the fastest growth um is happening in the suburbs of San Antonio so outside of that downtown core like along the river lock but um 40 so 3% growth um year every year in the suburbs there. So really strong. Ah.

21:50.75

strdatalab

No, very interesting.

22:03.77

Jamie Lane

Strong gross I hear some people talking about it as the new Austin or even New Nashville that San Antonio could be 1 of those top growth markets for for years to come.

22:13.92

strdatalab

Yeah I think there's definitely something to that sort of like yes I was going to say the same thing it feels very Austin adjacent right? or to potentially Nashville adjacent. So like yeah like finding those little markets where there is like it's going to be the next big thing I think is always so fascinating and fun to nerd out on. Because it is like what was that sort of petri dish that made Austin so appealing to folks that now um is repeatable and scalable somewhere else all right? well.

22:42.34

Jamie Lane

Yeah, one one of the other smaller markets sort of um, picking up on that trend was Columbus Ohio so home of the ah ohio state buckeyes ah but there's been and a lot of shout out to the buckeyes.

22:49.12

strdatalab

Um, oh yeah.

22:56.37

strdatalab

Um, shava fucks model.

22:59.64

Jamie Lane

A lot of and um in migration there ah strong University presence lot of New Tech job growth happening in that market even and with all the tech companies are a lot of them sort of pulling back on hiring. We see a lot of companies sort of investing.

23:03.76

strdatalab

Yeah.

23:18.83

Jamie Lane

Um, in Columbus and um Columbus was one of the highest searched markets. So I think there's a lot of interest going forward and in Columbus. So if you're not not in now you you might want to get in quick if if you're going to get in that market.

23:24.80

strdatalab

How.

23:32.61

strdatalab

I like it I like it I know this like you know you forget about this middle area in America but there's a lot going on over there. There's a lot a lot of fun stuff. Happening. Um. With Ohio yeah I was going. Ah well I was going to ask you is there anything having to do with like regulation there that might make it more appealing and I'm sorry to put you on the spot about that if you don't know we can. We'll just cut this out and I'm kidding. We'll just we'll just.

23:54.97

Jamie Lane

Um, ah.

24:01.10

strdatalab

Put it in the show notes guys. What's happening in Ohio.

24:01.64

Jamie Lane

Yeah, um, and speaking of and markets with a relatively lax of regulation is um, we had 2 markets show up in in North Carolina um with um the Charlotte market. Um.

24:16.82

strdatalab

Um, oh yeah.

24:20.28

Jamie Lane

Ah, in the Raleigh Durham um area so again areas both root and and you see this in the south in general a lot of people moving in lot of jobs being created still relatively low home prices. Um, um. Raleigh Durham was actually an area where supply growth was greatest downtown so people going into the scored but and primarily in Raleigh. AhDurham also with the sort of duke there um University North Carolina also there so um I'm

24:41.63

strdatalab

And you.

24:50.92

strdatalab

Yes.

24:59.90

Jamie Lane

Great university presence and then ah Charlotte to mostly growth in the downtown area. Great vibrant sort of growing walkable downtown. Ah really attractive. Ah for for young people moving to and. Ah, we're seeing a lot of short term rental demand in that area.

25:19.75

strdatalab

I love this Well and I'm also I'm I'm looking at the home values and so the average home value like that three hundred fifty price marker I'm just like wow like being in Denver I'm like I would kill for a three hundred and fifty dollars price yeah so still very affordable as well. In terms of an investment strategy which might of course. Lead to the reason that people are searching at.

25:42.79

Jamie Lane

Yeah, and and it goes to and one I think still a lot of people might be asking like Jamie like there's still no talking this voice because it's and how I imagine these tweets get ah.

25:51.47

strdatalab

Um I loved it. It's how I it's how I miss you too.

26:00.00

Jamie Lane

People tweeting tweeting to me Jamie I still still don't see any coastal markets I don't still' see any mountain markets. Um, and one we do have one beach market as petersburg yeah St Petersburg ah

26:11.93

strdatalab

I was going to call point out. Yes, yeah, you got Florida than you're still Florida still on the list.

26:20.81

Jamie Lane

Yeah, we have one Florida market are actually 2 sorry Tampa um, but still Tampa State Badsburg more more urban um, at least suburban than in pure coastal beach market though. Do have the beach nearby.

26:23.12

strdatalab

Um, you are too. Yeah, yeah.

26:29.93

strdatalab

My frame.

26:38.90

Jamie Lane

Um, so a good combination of of both business um people moving to it as well as sort of pure leisure and wanting to stay um to go to the beach a much shorter length of stays though than a traditional beach market.

26:55.49

strdatalab

Um, and new home.

26:57.50

Jamie Lane

So Tampa say pete's going to see more of the on 3 to four days days as opposed to like the the 7 plus stay at at the beach are like a a destin or ah um, Santa Rosa beach areas like that. Um, and then um.

27:16.95

Jamie Lane

The Florida markets too have been seeing ah quite a bit of historical supply growth in terms of being on the list. Not necessarily as much sort of new rentalizer searches. Um, so they may be on the back end of their growth. Um.

27:28.24

strdatalab

How.

27:35.39

Jamie Lane

And where we're seeing um and some upcoming growth in some of the other areas and so that's something we look at very closely in terms of year year growth and supply and how that's trending over time is we're seeing global growths. So um. The growth rate slow pretty substantially in the the beach coastal and mountain markets and that's a lot of the reason why they're not showing up on this list is most of their growth was happening in 2021 and 2022 ah and where now we've shifted.

28:00.60

strdatalab

Got it.

28:10.34

Jamie Lane

And where the large cities or larger cities larger metros in the us are seeing some of the are seeing an acceleration in their growth rates. Um and are now growing so almost double the growth rates of the Coastal Mountain markets um so when we look at and. And having Phoenix Dallas Houston st louis San Antonio um Charlotte like these are larger metro areas. Um in what the what that means though is now we're seeing some pretty substantial occupancy declines. In some of these larger metro areas then we're that we're seeing maybe at this time last year in some of the coastal art mountain markets so have to be really careful when you think about following the trend of like oh like.

28:47.32

strdatalab

A heart.

29:04.37

strdatalab

Um.

29:06.64

Jamie Lane

Charlotte seems great like home of Nascar like they've got um, all these great races at Charlotte Motor Speedway New Parks like I'm going to invest in Charlotte like but you have to get a sense of like.

29:15.30

strdatalab

Um, right.

29:23.22

Jamie Lane

Okay, what are what's actually going to be happening going forward with Charlotte like are they going to be able to maintain these occupancy levels if and we're already seeing pretty significant year over year declines like it's going to take maybe a year or 2 for all this new supply to be absorbed like just because it's hot now.

29:35.87

strdatalab

Um, night.

29:42.18

Jamie Lane

Doesn't mean it's going to be hot um in the future and so really important to sort of dive into underlying performance metrics in each of these markets before making um, an investment.

29:53.59

strdatalab

I think I think we have a tool for that and I think we might be able to help out with that sort of the deeper analysis starting to filter into different property types being able to really understand how occupancy is turning up or down. Lead times as you mentioned length of stays really kind of understanding if this is a viable market for you I think that's such a good callout. It is so individual. What I always am so struck by is how individual the investment strategy is right I mean obviously we're here to give people. Um, some good data points. Hopefully some guidance on how they can look at different markets and again this is sort of ah opposite thesis of the initial thesis that we created with best places to invest which was all about you know profitability this is like maybe maybe part of your thesis is to go somewhere where there's popularity right. Um, and and there's something there there when a whole bunch of other people are looking into a market. But yeah I mean that urban recovery. We really have been I mean we've been talking a lot about it on the macro level sort of like you know, zooming out a lot and showing that sort of urban suburban um is coming back. On the map and then if it does follow a similar trend like you know growth might be steep for a while. But then it's slow and steady right? like it starts to normalize. Um and what I love about what's really hitting me on all of these this top 10 lists that you've created is that these are all markets with relatively I'd say like sustainable.

31:23.39

strdatalab

Travel demand right? like it's not hinging all on being like a seasonal sort of destination right? There's more to it. There. There's potentially some leisure travel. There's business travel. There's leisure travel leisure is just business and leisure together. It's like you know, business up top party down below I don't know what trend that is for which market but I'm sure it is 1 1 of them. Um, so yeah, mullet travel. Let's call it mullet travel. Let's rebrand it I'm just trying to figure out is it Florida that has the mullet trend I don't know. Anyways, again.

31:43.24

Jamie Lane

That that was that was mullet travel more I make.

31:57.60

Jamie Lane

Um, that no comment. Um.

31:58.40

strdatalab

Yeah, shout out to shout out to Florida we love Florida um, ah but yeah I mean I I think that there is definitely something to this sort of like where is travel a little bit more sustainable unless again, you don't want you know your occupancy to be sort of slow and steady and you really only want to have like 1 hot season and then you're happy to kind of. Shutter up your place and and write ride out a winter or something.

32:20.38

Jamie Lane

Yeah, and I would just note absent another global pandemic I think you're absolutely right.

32:26.71

strdatalab

Well I mean I think if we could go another hundred years I think we generally we've done one of these every hundred years so if we could go another hundred years without one I'd be happy.

32:37.46

Jamie Lane

Absolutely.

32:41.96

strdatalab

Ah, oh my goodness are right? Well I love this hot take on what's hot in the market today I'm excited for folks to dig into the report. Um I'm also excited for people to tell us what they thought of the report you guys.

32:55.49

Jamie Lane

Yeah, and this is maybe give you a chance to shout out your marketing team of this is part of our our new series of Airbb ranked. Can you give everyone a sense of on what we're going to be doing and with the series.

32:58.62

strdatalab

No.

33:05.70

strdatalab

Um, yet.

33:10.25

strdatalab

Yes, Well we're we're taking a look at what is hot and what is not across multiple facets and levels. So yes, it is part of our ranked series. We're helping people understand again sort Of. What's on the top 10 top 25 for all sorts of different things Property managers will be releasing that one soon I think um at all of it is getting covered. So yeah, shadow to my team way to go guys. Great idea I Hope they listen Well if they didn't They're going to miss their shout out.

33:41.87

Jamie Lane

And it and if you have any over there ideas on things that you'd like to see ranked like our first one came out with like the top grossing markets for for cabins and ah different types of different property types. So this one dives into obviously the hottest markets and then we've got.

33:53.14

strdatalab

Um, and.

33:59.86

Jamie Lane

Quite a few others and teed up. But if there's something you'd liked us to rank for you in our in our series. Let us know you can either shout out to us on the socials me and mariah are on Twitter Air Dna on Twitter or hello at airdnaah.ceo and ah.

34:11.19

strdatalab

Now not convenient.

34:19.40

Jamie Lane

And sure that you know will eventually get to us.

34:21.84

strdatalab

Oh yeah, no well I mean I think what Jamie's saying here folks is that he would like you to tweet him more often. So ah, but yeah, we we are the the entire marketing team is on Twitter too. So we can also respond we're we're here to help it is yeah just.

34:28.00

Jamie Lane

Absolutely.

34:37.73

strdatalab

The air Dna and the whole all right Jamie you heard it here first guys? Um, thanks so much for taking a listen and we'll be back with the next hottest notest. Whatever we can come up with in the near future.

34:49.19

Jamie Lane

Okay, thanks everyone.