All Forum Posts by: Account Closed

More and more I'm hearing that STRs are going to be the alternative to hotels as it looks like a recession may be eminent.  Curious to hear from the forum if you are seeing the same trends in terms of your bookings.  Especially if you are in a vacation destination where hotels/resorts tend to capture the marketshare of the vacation traveler, ie. Hawaii, Orlando?

https://finance.yahoo.com/news/summer-vacation-rentals-144442710.htm

And let me clarify my last statement - when I say "AirBnBs/VRBOs", I mean the hotels feel like the the STR investors utilizing the AirBnBs and VRBO are not paying their fair share of taxes.

Let me share another prospective. In some states, like Hawaii, it is the hotels AND the locals that are pressuring the local government to limit STRs. The hotels have a little leverage because they pay to be a member of the tourism board, an entity funded by the State. For the hotels, the main argument is around taxes and that the AirBnBs/VRBOs should be held to a certain tax standard as are the hotels. As for the locals, it really is a matter sustainability and protecting the natural resources of the Islands. I've heard it said that the locals feel that some visitors that stay in STRs do not respect sacred landmarks and other cultural nuances. Locals feel that STR hosts should take more responsibility in educating their guest. (Now don't kill the messenger, I'm just sharing the insight I've learned in working on the hospitality side.)