Recap of 2021 for the STR Industry

2021 has been a unique year for the short-term rental industry. David Jacoby is the Cofounder and President of Hostfully, an all-in-one property management platform that helps STR hosts embrace automation and deliver an exceptional guest experience.On this episode of Get Paid for Your Pad, David joins me to share his top takeaways from the Hostfully 2021 Hospitality Report, exploring where STR reservations are coming from and why some markets report more competition in 2021—while others report less. Listen in to understand why cleaning and turnover management is an ongoing challenge and find out what short-term rental hosts plan to do to increase their revenue in 2022!Topics Covered Some STR markets report more competition in 2021 while others report lessSecondary markets have more competition and increase in revenueHosts in large cities have less competition (COVID, regulations)What hosts count as their most valuable software tool in 2021PMS was largest category, especially among large property managers56 different tools mentioned (e.g.: Zapier, Zoho, Canva, Trello, etc.)What the Hostfully survey reveals about the value of dynamic pricingLarge property managers use more and report higher incomeLosses significantly less among hosts using dynamic pricingWhy cleaning and turnover management remains a pain point for STR hostsChallenge to implement and track new cleaning protocols in 2020Shortage of good, reliable contractors in 2021Connect with David Jacoby Hostfully 2021 Vacation Rental Industry Stats Report Email [email protected] Resources  Homes & Villas by Marriott InternationalPlum GuideCHBOBud and BreakfastZapierZohoGoogle WorkspaceMicrosoft OfficeWheelhouseHostfully Studies, Trends & Industry ReportsSTR Legends MastermindLegends X 90-Day STR AcceleratorEmail [email protected]  Sponsor Hostfully [Discount Code PAD] Hosted on Acast. See acast.com/privacy for more information.