STR slowing down/crash or ramping up?

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STR slowing down/crash or ramping up?

Dulce BeltranPro Member
Real Estate Agent · San Diego, CA · Member since 2017 · 99 posts · 52 votes

I've researched attempting to locate data. So far, it's all predictive analysis. I want to hear from the actual STR operators, how has your business been impacted since March 2022 when the market shifted until now? Increase in bookings or overall decrease besides seasonal cycle?

[email protected]858-333-7597
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Nick Duncan
Member since 2020 · 2 posts · 9 votes
3y

Palm Springs area. Have dropped rates significantly and occupancy a fraction of what it was last year. Not really worried as have cheap debt and we enjoy using it which we haven’t been able to do for the last year or so. But can’t understand who these people are who are still buying out there. The danger of relying on Airdna data I guess.

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  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    3y

    We are on pace for 2023. Our numbers are looking about the same as 2022, 2021. Better than 2020 and 2019.

    We are also currently taking bookings for 2024.

    0Reply
  • Brian Barch
    Member since 2022 · 272 posts · 253 votes
    3y
    Quote from @John Carbone:
    Quote from @Leslie Anne Morris:

    Booking lead time greatly reduced, back to school was a bit lower than it had been during covid since there was no school.  All in all still booking well.

    What would you estimate your average lead time is now? 
    Mine seems to be 2-3 weeks
    0Reply
  • John Carbone
    Realtor · Gatlinburg · Member since 2020 · 1k+ posts · 957 votes
    3y
    Quote from @Brian Barch:
    Quote from @John Carbone:
    Quote from @Leslie Anne Morris:

    Booking lead time greatly reduced, back to school was a bit lower than it had been during covid since there was no school.  All in all still booking well.

    What would you estimate your average lead time is now? 
    Mine seems to be 2-3 weeks

     Are you in the smokies?

    0Reply
  • Leslie Anne Morris
    Real Estate Agent · Smoky Mountains, TN · Member since 2022 · 1k+ posts · 984 votes
    3y
    Quote from @John Carbone:
    Quote from @Leslie Anne Morris:

    Booking lead time greatly reduced, back to school was a bit lower than it had been during covid since there was no school.  All in all still booking well.

    What would you estimate your average lead time is now? 
    Nov and Dec were at 7 days for the smaller cabins (outside of the major holidays)
    1Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y

    my status: fully booked until jun 2023 , few books even for October 2023.

    don't want to share the location so i have no competition :) lol

    my problem is good to have, i want to use this place every 3 months, but the Airbnb renter doesn't allow me to do so.

    3Reply
  • Bob Willis
    Investor · Curtis, NE · Member since 2019 · 231 posts · 140 votes
    3y

    Phoenix market is horrible relative to performance the past 7 years. Oversaturated. Rates down, occupancy down, etc...

    0Reply
  • Kevin Luttrell
    Lender · Orange County, CA · Member since 2019 · 299 posts · 255 votes
    3y

    Bookings for our Smokies cabin have definitely slowed, and we're getting a lot more last minute reservations. Overall our occupancy percentage hasn't dropped too much, but lead time is significantly shorter as I see others have mentioned already. 

    0Reply
  • Rob Bergeron
    Real Estate Agent · Louisville, KY · Member since 2017 · 1k+ posts · 1k+ votes
    3y

    If the market was how it was last year, I'd still be pouring everything into airbnb. That being said, we are looking to purchase a franchise perhaps, some warehouse...but still buying the right airbnb opportunities. We really like creating great experiences. I want my family to continue to have amazing experiences and build that for them. We have about $300k in lines or cash outs that we can do and I think we will all over the place with it. Sooo much stinking opportunity out there!

    1Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    3y
    Quote from @Rob Bergeron:

     Sooo much stinking opportunity out there!


     ^^^

    1Reply
  • Brian Barch
    Member since 2022 · 272 posts · 253 votes
    3y
    Quote from @John Carbone:
    Quote from @Brian Barch:
    Quote from @John Carbone:
    Quote from @Leslie Anne Morris:

    Booking lead time greatly reduced, back to school was a bit lower than it had been during covid since there was no school.  All in all still booking well.

    What would you estimate your average lead time is now? 
    Mine seems to be 2-3 weeks

     Are you in the smokies?


     North GA mountains

    0Reply
  • John D.
    Rental Property Investor · La Quinta, CA · Member since 2014 · 1k+ posts · 779 votes
    3y

    Lake Havasu properties are down huge this year, I am planning on selling there.  A massive increase in supply, a big decrease in demand compared to COVID periods.  The supply of homes for large groups must have 3-4x'd in the last couple of years.

    Our Palm Springs area properties are down compared to the last couple of years, but similar to pre-COVID.

    Other properties we have not held long enough to have a data point.  I sold a few things last year, even without a revenue drop at those prices holding didn't make sense to me.  Been re-investing in a motel project and a large commercial project.

    2Reply
  • Corbin Loveless
    Real Estate Agent · Knoxville, TN · Member since 2020 · 54 posts · 42 votes
    3y

    What was the impact of Covid in the Smokies? (biggerpockets.com)

    0Reply
  • Dulce BeltranPro Member
    OP
    Real Estate Agent · San Diego, CA · Member since 2017 · 99 posts · 52 votes
    3y

    @Nick Duncan interesting you mention AirDNA. What is your experience with using that site and your thoughts on it?
    @Brian Barch am interested in a normal year 2019 data, the 2020-2022 cycle is not accurate data imo due to extenuating factors. @Luke car

    @Luke Carl thank you for your input, I was curious to hear your thoughts as you were mentioned to be the STR go to. May I pm you?
    @Andrew Steffens so taking out 2020-2022, is the trend still increasing, and if so do you know what that percentage is for your properties? I'm looking for a gauge based on operators. And interested to see what the STR market does this upcoming quarter due to "recession" and companies laying off employees.  

    @John Williams I am also seeing those trends from STR to MTR's. I am def a numbers/data oriented investor and want to make sure the business model will work in my current market.

    @Carlos Ptriawan thank you for the website, I'll look into it. I have LTR's as well and appreciate them for the lower risk than STR's. I'm interested in "diversifying" my RE holdings. @Bruce Woodruff value as in the property value after purchase, rehab, etc or...?

    [email protected]858-333-7597
    0Reply
  • Andrew SteffensBusiness Member
    Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
    3y
    Quote from @Dulce Beltran:

    @Nick Duncan interesting you mention AirDNA. What is your experience with using that site and your thoughts on it?
    @Brian Barch am interested in a normal year 2019 data, the 2020-2022 cycle is not accurate data imo due to extenuating factors. @Luke car

    @Luke Carl thank you for your input, I was curious to hear your thoughts as you were mentioned to be the STR go to. May I pm you?
    @Andrew Steffens so taking out 2020-2022, is the trend still increasing, and if so do you know what that percentage is for your properties? I'm looking for a gauge based on operators. And interested to see what the STR market does this upcoming quarter due to "recession" and companies laying off employees.  

    @John Williams I am also seeing those trends from STR to MTR's. I am def a numbers/data oriented investor and want to make sure the business model will work in my current market.

    @Carlos Ptriawan thank you for the website, I'll look into it. I have LTR's as well and appreciate them for the lower risk than STR's. I'm interested in "diversifying" my RE holdings. @Bruce Woodruff value as in the property value after purchase, rehab, etc or...?


     Yes we are still seeing increased bookings and rates in 2023 from 2019.

    [email protected]813-563-0877
    Vacation Rentals of Florida53 Reviews
    WebsiteView Page
    0Reply
  • Jessie Leonard
    New to Real Estate · New Braunfels/Canyon Lake TX · Member since 2019 · 32 posts · 21 votes
    3y

    Texas coast is starting faster than last year! Central Tx lake house starting slower...

    0Reply
  • Mike Gordon
    Member since 2023 · 4 posts · 1 vote
    3y
    Quote from @Lisa Graesser:

    No decrease in bookings, I get inquiries daily for peak season Jan-March 2023 and 2024. I am booked through April with direct bookings in May, June and October. I think demand is determined by the popularity of the area where your rentals are located.

    Hey, where are your STRs located?

    0Reply
  • Lisa Graesser
    Rental Property Investor · The Villages, FL · Member since 2017 · 341 posts · 398 votes
    3y
    Quote from @Mike Gordon:
    Quote from @Lisa Graesser:

    No decrease in bookings, I get inquiries daily for peak season Jan-March 2023 and 2024. I am booked through April with direct bookings in May, June and October. I think demand is determined by the popularity of the area where your rentals are located.

    Hey, where are your STRs located?


     The Villages, Florida

    0Reply
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