Through the Roof: U.S. Short-Term Rentals 2021

Summary

Short-term rentals (STRs) have experienced a precipitous uptick in attention, in a time otherwise marked by downturn and travel uncertainty. While also affected by the global pandemic, the STR market has seen a renewed interest among users and hosts alike. Many travelers considered a short-term rental for the first time, given some of the perks associated with the accommodation type. Others discovered the utility of an STR stay for new purposes, such as remote work or school.

Meanwhile, many hosts and property managers shifted their business models and approaches in response to the situation at hand. Adaptations for the new reality of COVID were seen across the segment – from enhanced cleaning to stronger Wi-Fi to relaxed booking policies. This report, based on a comprehensive survey of STR users, hosts and property managers, explores changes in the STR landscape from both consumer and business-side perspectives. Stakeholders’ attitudes, goals and behavior are discussed in detail, along with projections regarding the growth of the market.