I can also think of advantages like not having franchise fees, national branding issues, rent escalations can be built in to long terms leases more easily since the lessee is a professional, your property is faster and more quickly to adapt to which STR platform is working at any given moment, the lessee is more likely to be financially capable of paying for damage to the unit, etc.

Some hosts are realizing some of us are still doing very well because we're willing to adapt and change.

Being open and always learning and adapting are key here.

I am saying this not be a pessimist as for many in this business it really doesn't matter it's just how you adapt. 

Nothing sounds great when you start, so you just gotta move forward and adapt along the way. 

I think the key take away is how well we adapt during these difficult times and what strategies to employ to come out ahead or survive.

You can choose believe it is a hoax and not prepare your business or building - or you can adapt and adjust and take the right steps and let it blow over and then open again for business.

They don't track their own spending, they don't make advance budgeting decisions, they never think about and consciously limit lifestyle creep and hedonic adaptation, two things that are guaranteed to keep you broke for the rest of your life.

@Gregory SchwartzDude, you a marine officer, adapt and over come.Whatever it takes with whatever you got.

I became very knowledgeable about my real estate market and I continually tweaked & adapted my strategies (acquisition, financing, value-add) based on what's happening in my local market.You can choose to sit on the sidelines or you can figure out how to make money in real estate regardless of the market.