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Monday 15 June, 2020
TOP STORY
Spain's rising occupancy rates hint at accelerating short-term rental market recovery
Occupancy rates in Spain in properties listed on Airbnb have risen markedly as the country gears up for the summer, despite the Covid-19 uncertainty, AllTheRooms data reveals.
If you missed our last newsletter....
1. Vacation Rentals backs down on no-refund policy
2. Airbnb refuses to rule out IPO this year
3. Remotelock signs up to IHM's Urban Living Festival
4. Join our LinkedIn group here
5. Booking.com forges activities partnership with TUI
Editor's comment
15•06•20 Welcome to the latest ShortTermRentalz newsletter!
• As Airbnb hones in on destination travel, occupancy rates in Spain in properties listed on the rental platform have seen a marked rise as the country gears up for the summer, despite uncertainty over the coronavirus outbreak.
Using the latest data from vacation rental data and analytics metasearch engine, AllTheRooms Analytics, we were able to analyse the nature of Spain's short-term rental recovery through the prism of the country's 90-day occupancy rates across Airbnb's booking platform.
The 90-day occupancy rates, i.e. the percentage of nights that properties listed on platforms are booked over the next 90 days, revealed some interesting insights, as Airbnb occupancy in Spain rose by 29 per cent on 31 May compared to the previous month, reaching 17.6 per cent [a 44 per cent drop compared to 2019].
Other key takeaways included:
• Galicia saw the greatest rebound in occupancy rates over the past 30 days of any region or city in Spain with a 77.2 per cent increase
• That was followed by Almeria [31.7 per cent], Rioja [26.8 per cent] and Tenerife [24.1 per cent]
• Valencia, Barcelona, Granada, Madrid and Seville did not see a growth in Airbnb occupancy as of 31 May
• According to AllTheRooms' Forward Booking Index, occupancy rates in Spain will peak within the next 60 days at just under 30 per cent, followed by a gradual decline over the following 120 days
The variations in improving occupancy rates appear to correlate with the easing of travel restrictions in certain regions, for example Galicia was one of the first regions to move to Phase One and it has now seen the highest increase in rates compared to the previous 30 days. With domestic travel scheduled to resume on 22 June and international travel from other EU countries from 21 June, Spain will be plotting the recovery of its short-term rental market while ensuring the safety and security of guests in this age of Covid-19.
• Investment is the topic of our next NO COST Urban Living webinar, which takes place this Wednesday 17 June at 2pm BST and is hosted by IHM editor-in-chief George Sell. The session will look at investor sentiment around short-term rentals, hotels, serviced apartments, student housing, co-living and hostels.
Joining the discussion will be:
• Florian Schmitz, founder and CEO, Resonance Partners
• Michael Abel, partner, TPG
• Christian Birrell, investment fund manager, COLIV Fund, DTZ Investors
• Lissa Engle, founder and managing director, Berkeley Capital Group
• Mai Lan Marcilly, director, real estate private equity, KKR
Click here to register for the webinar now and join 340+ industry professionals who have already done so.
The webinar series is a precursor to the URBAN LIVING FESTIVAL 2020: stay-live-work on 25-26 November at Tobacco Dock London.
If you have a story you want us to tell the industry, please click here and get involved with the community by joining our ShortTermRentalz LinkedIn group here.
Paul Stevens, news editor
paul@internationalhospitality.media
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