{"id":177907,"date":"2024-09-30T15:11:06","date_gmt":"2024-09-30T21:11:06","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=177907"},"modified":"2024-09-30T15:11:09","modified_gmt":"2024-09-30T21:11:09","slug":"is-investing-in-hotels-a-better-move-than-scaling-short-term-rentals","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/is-investing-in-hotels-a-better-move-than-scaling-short-term-rentals","title":{"rendered":"Is Investing in Hotels a Better Move Than Scaling Short-Term Rentals?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Pre-pandemic, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/guides\/the-ultimate-guide-to-short-term-rental-properties\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">short-term rentals<\/span><\/a><span data-preserver-spaces=\"true\"> (STRs) <\/span><span data-preserver-spaces=\"true\">seemed to answer<\/span><span data-preserver-spaces=\"true\"> burned-out landlords&#8217; prayers. Guests p<\/span><span data-preserver-spaces=\"true\">aid their money upfront, eliminating the need to evict, and homeowners could use their <\/span><span data-preserver-spaces=\"true\">personal<\/span><span data-preserver-spaces=\"true\"> residences to earn extra income should they wish to travel or rent out individual rooms.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">The hotel industry quaked and pressured cities to introduce restrictions. However, STR fever was rampant. Soon, entire apartment buildings <\/span><span data-preserver-spaces=\"true\">were dedicated<\/span><span data-preserver-spaces=\"true\"> to the vacation rental phenomenon. <\/span><span data-preserver-spaces=\"true\">Everyone with a granny flat, RV, and spare room <\/span><span data-preserver-spaces=\"true\">seemed <\/span><span data-preserver-spaces=\"true\">to be<\/span><span data-preserver-spaces=\"true\"> competing for STR dollars.<\/span><span data-preserver-spaces=\"true\"> Would it last? Were hotels over?<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Inevitably, some markets became saturated, and the narrative about short-term rentals changed amongst investors. Post-pandemic, the number of vacation homes in the U.S. increased by 23.3% from October 2021-2022. That spring, at the height of the STR booking season,<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.wsj.com\/articles\/the-housing-slowdown-is-wreaking-havoc-on-the-short-term-rental-market-11670518837\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\"> 80,000-88,000<\/span><\/a> <span data-preserver-spaces=\"true\">new short-term rentals were added<\/span><span data-preserver-spaces=\"true\"> to the market monthly.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Bookings dropped, and landlords fretted. Hoteliers breathed a sigh of relief.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">After a shaky couple of years due in part to the economic downturn, the short-term rental business <\/span><span data-preserver-spaces=\"true\">is expected<\/span><span data-preserver-spaces=\"true\"> to grow at a <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.airdna.co\/blog\/us-mid-year-outlook-2024-2025\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">stable pace<\/span><\/a><span data-preserver-spaces=\"true\">. Equally, the hotel business in the U.S. <\/span><span data-preserver-spaces=\"true\">is predicted<\/span><span data-preserver-spaces=\"true\"> to exhibit an annual growth of <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.statista.com\/outlook\/mmo\/travel-tourism\/hotels\/united-states#:~:text=The%20Hotels%20market%20in%20the,US%24133.30bn%20by%202029.\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">3.8% (CAGR 2024-2029)<\/span><\/a><span data-preserver-spaces=\"true\">, with a projected market volume of $133.3 billion by 2029.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">So, which makes a better investment for investors looking to scale their hospitality business? Hotels or STRs?&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Short-Term Rentals<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">As an active STR owner and landlord, I have found that the pros and cons of owning a short-term rental business are well-defined.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Pros<\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">Tenants pay upfront\u00a0<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Potential to generate more revenue than long-term rentals<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Offer owners flexibility to rent properties when they want<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Allows owners to scale at their own pace<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Allows a diverse type of buildings to <\/span><span data-preserver-spaces=\"true\">be used<\/span><span data-preserver-spaces=\"true\"> as rentals<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Popular destinations enjoy high-traffic<\/span><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Cons<\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">Labor-intensive management<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">At the whim of STR algorithms for market visibility<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Bad reviews can hurt your business<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Potential for guests to cause damage\/use the property for parties<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Difficult to scale when using residential neighboring comps for appraisals<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Outlawed in some cities<\/span><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">While the short-term rental space has benefited from property owners using high-end homes as vacation rentals, scaling with smaller units <\/span><span data-preserver-spaces=\"true\">is<\/span> <span data-preserver-spaces=\"true\">more <\/span><span data-preserver-spaces=\"true\">difficult<\/span><span data-preserver-spaces=\"true\">.<\/span><span data-preserver-spaces=\"true\"> Using apartment buildings is <\/span><span data-preserver-spaces=\"true\">harder<\/span><span data-preserver-spaces=\"true\"> due to<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-09\/airbnb-abnb-vrbo-expe-why-cities-are-cracking-down-on-short-term-rentals\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\"> increased restrictions<\/span><\/a><span data-preserver-spaces=\"true\">. Buying <\/span><span data-preserver-spaces=\"true\">small<\/span> <a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/finding-multifamily-properties\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">multifamily<\/span><\/a><span data-preserver-spaces=\"true\"> or single-family homes one after another takes time, and competition is tough. Still, STRs and hotels do well nationally within their catchment areas.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">&#8220;We&#8217;ve seen the strongest demand in small and midsize cities, coastal and mountain locations, and areas outside of major urban centers,&#8221; Jamie Lane, senior vice president of analytics and chief economist at<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.airdna.co\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\"> AirDNA<\/span><\/a><span data-preserver-spaces=\"true\">, a market research firm that specializes in short-term rentals, told the<\/span> <em><a class=\"editor-rtfLink\" href=\"https:\/\/www.nytimes.com\/2024\/01\/18\/travel\/hotels-versus-vacation-rentals.html\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">New York Times<\/span><\/a><\/em><span data-preserver-spaces=\"true\"> of the STR market. &#8220;Hotel supply is primarily in larger urban centers or along interstates.&#8221;&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">A Hotel Investing Case Study: Sathiyan Kadhiwala&nbsp;<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><a class=\"editor-rtfLink\" href=\"http:\/\/jayrjkinc.com\/Home\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Sathiyan Kadhiwala<\/span><\/a><span data-preserver-spaces=\"true\"> came to the U.S. from India in 1995 and started working at his uncle&#8217;s Super 8 hotel in <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Allentown-Bethlehem-Easton%2C%20PA-NJ\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Allentown, Pennsylvania<\/span><\/a><span data-preserver-spaces=\"true\">. He swept the car park, cleaned rooms, and eventually graduated to the front desk.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">&#8220;One of the first things my uncle told me was that apart from customer service, the three most important things for guests were a clean bathroom, a working TV, and a comfortable bed,&#8221; Kadhiwala told BiggerPockets.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Kadhiwala continued to work within his family&#8217;s business, investing with his brother, living frugally, and saving money. After being turned down by banks because of his lack of assets and cash, he saved $750,000 over 20 years, which he used as a down payment on a $5 million Hampton Inn Hotel in Clarion, Pennsylvania, in 2017, about 90 minutes outside <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/markets?market=Pittsburgh%2C%20PA\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Pittsburgh<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Kadhiwala said:<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><span data-preserver-spaces=\"true\">&#8220;The first thing I did was add lights to the exterior, particularly the parking lot. <\/span><span data-preserver-spaces=\"true\">The next thing we did was<\/span><span data-preserver-spaces=\"true\"> a <\/span><span data-preserver-spaces=\"true\">huge<\/span><span data-preserver-spaces=\"true\"> business outreach to attract customers, offering incentives.<\/span><span data-preserver-spaces=\"true\">&nbsp;<\/span><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><span data-preserver-spaces=\"true\">As with any business, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/rental-property-cash-flow-analysis\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">cash flow<\/span><\/a><span data-preserver-spaces=\"true\"> is the key. The advantage of a hotel is, firstly, you have a brand name that many people trust. Beyond that, the profitability of your business depends on payroll, property taxes, and insurance. <\/span><span data-preserver-spaces=\"true\">If<\/span><span data-preserver-spaces=\"true\"> you can minimize these costs and increase visitors<\/span><span data-preserver-spaces=\"true\">, you are in a good position<\/span><span data-preserver-spaces=\"true\">.<\/span><span data-preserver-spaces=\"true\"> Unlike a short-term rental, <\/span><span data-preserver-spaces=\"true\">which is<\/span> <span data-preserver-spaces=\"true\">mostly<\/span><span data-preserver-spaces=\"true\"> a <\/span><span data-preserver-spaces=\"true\">small<\/span><span data-preserver-spaces=\"true\"> building, a hotel <\/span><span data-preserver-spaces=\"true\">is appraised<\/span><span data-preserver-spaces=\"true\"> on its cash flow, not the neighboring buildings.&#8221;<\/span><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Kadhiwala has scaled his business over the last seven years using<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.sba.gov\/funding-programs\/loans#:~:text=The%20U.S.%20Small%20Business%20Administration,loans%20and%20reducing%20lender%20risk.\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\"> SBA<\/span><\/a><span data-preserver-spaces=\"true\"> financing. Today, he owns <\/span><span data-preserver-spaces=\"true\">10<\/span><span data-preserver-spaces=\"true\"> hotels comprising four Holiday Inns, two Hampton Inns, one Super 8, one Ramada, an Econo Lodge, and a Motel 6.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">For ease of calculation, assume each hotel had 100 rooms (most of his hotels have 80 rooms). He gave me these numbers:&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><span data-preserver-spaces=\"true\">&#8220;With economy hotels such as Super 8 or Days Inn, if purchased at $6 million-$6.5 million, you can expect to generate $1.5 million in annual revenue and $500,000 in cash flow. For Hampton Inns and Holiday Inns, purchased at $10 million+, the cash flow on a 100-room hotel is around $900,000\/year. <\/span><span data-preserver-spaces=\"true\">Obviously,<\/span><span data-preserver-spaces=\"true\"> that is very dependent on the location.&#8221;<\/span><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Kadhiwala prefers more rural locations in Pennsylvania for his hotels to mitigate the expenses.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">The consensus on running a hotel is that it&#8217;s extremely labor intensive and far from the <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/passive-real-estate-investing\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">passive income model<\/span><\/a><span data-preserver-spaces=\"true\"> most investors prefer. Kadhiwala agrees, saying that he and his wife put in years of working 140-hour weeks to build their business. &#8220;My money was the time I put into the business,&#8221; he says. <\/span><span data-preserver-spaces=\"true\">&#8220;<\/span><span data-preserver-spaces=\"true\">Me<\/span> <span data-preserver-spaces=\"true\">and my wife<\/span><span data-preserver-spaces=\"true\"> lived in a one-room apartment and saved our cash.&#8221;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Now, they outsource much of the day-to-day running to trusted third-party management teams and are looking to flip some of their hotels and diversify to more passive-type businesses such as gas stations.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">&#8220;The management teams have staff from their country\u2014it&#8217;s often Egyptian or Indian, and they use the local community from that area,\u201d&nbsp; Kadhiwala explained. \u201cThey charge an $8\/10 per-room fee, so they have an incentive to make the hotel as profitable as possible.&#8221;&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Hotels Are Changing to Replicate Short-Term Rentals<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Many travelers have grown accustomed to the freedom and space that short-term rentals offer and have veered away from hotels entirely.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">\u201cHotels have taken a page from the short-term rental playbook and said, &#8216;We want our restaurants open to the public, and we want rooms not to be beige boxes,'&#8221; Jan Freitag, national director for hospitality analytics at CoStar, told the<\/span> <em><a class=\"editor-rtfLink\" href=\"https:\/\/www.nytimes.com\/2024\/01\/18\/travel\/hotels-versus-vacation-rentals.html\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">New York Times<\/span><\/a><\/em><a class=\"editor-rtfLink\" href=\"https:\/\/www.nytimes.com\/2024\/01\/18\/travel\/hotels-versus-vacation-rentals.html\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">.<\/span><\/a><span data-preserver-spaces=\"true\"> &#8220;On the amenities side, the room that used to be a place to crash now has to serve as an office.&#8221;&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Extended-stay hotels are the middle ground between<\/span><span data-preserver-spaces=\"true\"> a <\/span><span data-preserver-spaces=\"true\">short-term <\/span><span data-preserver-spaces=\"true\">rental<\/span><span data-preserver-spaces=\"true\"> and<\/span><span data-preserver-spaces=\"true\"> a <\/span><span data-preserver-spaces=\"true\">hotel, featuring kitchenettes and expanded living spaces.<\/span><span data-preserver-spaces=\"true\"> Larger hotel chains have <\/span><span data-preserver-spaces=\"true\">taken notice<\/span><span data-preserver-spaces=\"true\">, with new brands expected to debut this year, including<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/news.marriott.com\/news\/2023\/06\/05\/marriott-international-announces-plans-to-expand-in-affordable-midscale-segment-with-new-extended-stay-lodging-brand\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\"> MidX Studios<\/span><\/a><span data-preserver-spaces=\"true\"> from Marriott,<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/stories.hilton.com\/releases\/livsmart-studios-by-hilton\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\"> LivSmart Studios by Hilton<\/span><\/a><span data-preserver-spaces=\"true\">, and<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.hyatt.com\/development\/ourbrands\/hyattstudios\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\"> Hyatt Studios<\/span><\/a><span data-preserver-spaces=\"true\">. <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.onefinestay.com\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Onefinestay.com<\/span><\/a><span data-preserver-spaces=\"true\"> rents high-end homes and apartments with concierge service and <\/span><span data-preserver-spaces=\"true\">was acquired<\/span><span data-preserver-spaces=\"true\"> by Accor Hotels in 2016.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">However, short-term rentals can be hit or miss. Despite online reviews, you can never be entirely sure what you&#8217;ll get, so many travelers prefer to eliminate the uncertainty, remaining loyal to trusted hotel brands.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Final Thoughts<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">There is no easy money in real estate. Passive income is <\/span><span data-preserver-spaces=\"true\">largely<\/span><span data-preserver-spaces=\"true\"> a myth, <\/span><span data-preserver-spaces=\"true\">especially<\/span><span data-preserver-spaces=\"true\"> while scaling a portfolio by leveraging. Take your eye off the ball, and things can quickly go south, especially in short-term rentals and hotel hospitality spaces, even with decent property managers.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">However, the less debt you take on, the more cash flow you will have, making you less stressed when problems arise. Kadhiwala and his wife put in the hard yards building their hotel businesses to a point where they can look at a future where they can transition to more passive sources of income while still keeping an eye on their core hospitality business.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Invest to suit your risk tolerance, financial means, and appetite. Buying hotels requires deep pockets, either saved from years of working and living frugally like Kadhiwala or syndicated with other investors. Short-term rentals generally take less investment but generate less cash flow and equity.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">If you&#8217;re looking to scale, examine the pros and cons <\/span><span data-preserver-spaces=\"true\">of both<\/span><span data-preserver-spaces=\"true\">, along with your borrowing ability and comfort level. Some investors prefer not to partner with others, <\/span><span data-preserver-spaces=\"true\">in which case<\/span><span data-preserver-spaces=\"true\"> smaller short-term rentals could be a better investment. Hotels, however, generate more cash, equity, and the ability to exit quickly with greater profits due to increased cash flow\u2014provided you know what you&#8217;re doing.<\/span><\/p>\n\n\n\n<div id=\"hero-block_da10794f56a91f93c1c71e22033754c8\" class=\"first:mt-0 hero-block py-4  alignfull   has-background has-slate-50-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\"gap-10 lg:gap-20 flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 lg:w-1\/2 \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-slate-800-color has-text-color has-large-font-size wp-block-paragraph\" style=\"font-style:normal;font-weight:800\">Find the Hottest Markets of 2025!<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color wp-block-paragraph\" style=\"font-size:18px\">Effortlessly discover your next investment hotspot with the brand new BiggerPockets Market Finder, featuring detailed metrics and insights for all U.S. markets.<\/p>\n\n\n\n<div id=button-custom-event-block_92b68ffabbefbab356e65c19b2acfe21 class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/markets\" x-on:click=\"window.analytics.track(&#039;Blog Block | Market Finder&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/is-investing-in-hotels-a-better-move-than-scaling-short-term-rentals&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-gold-background-color has-text-color has-white-color\" target=\"_blank\">Explore Markets<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\"lg:w-1\/2 first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  rounded-md\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2024\/07\/Market-Finder_Site-Module-1.png\" alt=\"\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>In the face of short-term rental regulations, among other struggles, are hotels a better option?<\/p>\n","protected":false},"author":613725,"featured_media":177911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-177907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-trends"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/177907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/613725"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=177907"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/177907\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/177911"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=177907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=177907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=177907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}