On-site lodging gives our venue a competitive advantage over others without lodging, and also provides us an income stream on non-event nights (by renting them on Airbnb/VRBO/direct).https://www.battengreen.com/

On the other hand, a hot tub might cost more but could yield a higher ROI in competitive or high-demand markets.Data-Driven Insights: I also use tools like AirDNA or PriceLabs to analyze local trends.

Smoky Mountains seems to be a solid choice but I wonder about oversaturation and competition in that area?  

Some of my competition don't even bother with Airbnb. 

As Andrew mentioned, you will have to be very price competitive to get January and February bookings.

Whereas I (and others) continually urge them to stop being lazy and do their own research....go on VRBO and ABNB and look at the competition. 1) What are they charging?

It helps create an aspirational experience and can make the home stand out in a competitive market.

The tough part about New Jersey is that it is very competitive and very tight on inventory right now.

Raleigh/Cary is what I know well, but the competition is steep.

i think less competition is primarily going to mean less margin per deal.