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Collin Hays
#4 Short-Term & Vacation Rental Discussions Contributor
  • Property Manager
  • Gatlinburg, TN
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Fasten your seatbelts: Turbulence ahead.

Collin Hays
#4 Short-Term & Vacation Rental Discussions Contributor
  • Property Manager
  • Gatlinburg, TN
Posted

As the shutdown drags on, there are starting to be some serious cracks in the travel industry, and quite likely, the economy in general.  Today, 3 percent of flights have been cancelled by the major airlines, and that ratchets up to 10 percent next week.  That doesn't sound like a lot, but it is huge.  Flights into secondary markets from the major hubs are already being cut as much as 20 to 30 percent.  

Meanwhile, an anti-travel sentiment is soaking in. Folks are delaying or cancelling travel, simply because of anxiety about getting there and back home on time, and safety concerns.  And as corporate layoffs in October were at their highest for the month in 22 years, we have some rough waters ahead in terms of consumer discretionary spending. That is going to affect STRs significantly.  

Even if the government re-opened today, a lot of damage has been done.  I suggest that you call your representlives. 

Fasten up.  Turbulence ahead.

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Mike Dymski#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
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Mike Dymski#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
Replied
Quote from @Carolyn Fuller:

I think you have misplaced the blame for the financial chaos we are experiencing right now.

The blame is on both parties.  Our government printed massive amounts of money, increased the money supply 40%, droves prices of everything way up, and people are upset.

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