You'd think a shrinking supply of short-term rentals would be a big boost to hotels. But it's not at all clear how it will play out, and some will benefit more than others.
There can be an ebb and flow to market share tussles. If Expedia Group indeed grew faster than Booking in the U.S. while Expedia has been distracted by a loyalty program launch and a tech platform migration, then additional gains could be in the offing in 2024, as well.
Expedia Group should have most of the pieces in place at the end of the year to complete key elements of its transition. Then we'll have to see how well it executes on these new planks in reality.
Thailand is experiencing a shortfall in its anticipated number of Chinese tourists, potentially impacting its tourism target for 2023. The country is now exploring alternative markets like Middle Eastern tourists, who can significantly contribute to its tourism revenue despite not matching the Chinese numbers.
The U.S. market might be seeing a pullback, but Europe continues to lure budget-conscious travelers to under-explored destinations with a booming hospitality sector.
Industry leaders took to the stage in New York City at the Skift Short-Term Rental Summit to share their views on what’s next for this rapidly growing accommodation sector. Here, we highlight nine of the most insightful sessions.
Vacasa is a leader in brand building within the short-term rental space, but Skift Research estimates it still relies heavily on third-party booking sites, like Airbnb, for the majority of sales. Management surely hopes to become a majority first-party business – and to earn the margin benefits that follow.