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The vacation home rental business was more resilient than expected during the pandemic, and operators of all sizes are looking to hotel-style operations to capitalize on further growth opportunities.
Summer travel demand is expected to heat up quickly across all markets, especially in regions like the northeast where most business restrictions are easing by the end of this month. Short-term rental occupancies averaged 34 percent in the Mid-Atlantic states and 30 percent in New England in March and April, according to Key Data. But that is expected to jump to 56 percent and 51 percent, respectively, this summer based off forward bookings.
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