Charting STR Trends: February's Recovery & Eclipse Pacing with Bram Gallagher
In this episode of the STR Data Lab podcast, host Jamie Lane welcomes AirDNA’s Economist, Bram Gallagher, to explore February's short-term rental performance dynamics. After a January dip due to a northern cold snap, February showcased a robust 15.6% surge in demand from January's 1.2%, highlighting a strong desire to travel despite the off-season.
The discussion highlights how weather conditions influenced rental performance, particularly the challenges faced in key skiing destinations like California and Colorado due to low snowpack in January. Nonetheless, February marked a turnaround, especially in ski markets such as Big Bear, California, which experienced a 16% year-over-year increase in demand.
Jamie and Bram further examine broader economic indicators like unemployment rates and consumer price indices, presenting a cautiously optimistic economic outlook amidst some conflicting signals. They also anticipate the Federal Reserve's forthcoming announcement, expecting a hold on rates with potential future cuts.
Wrapping up, the conversation shifts to the anticipated solar eclipse and its expected boost to travel demand, with notable booking surges in cities along the eclipse's path. This episode provides key insights into short-term rental performance, overarching economic trends, and upcoming events shaping the travel industry.
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