Consumer travel has done more than bounce back, as indications are the increase is here to stay. In addition to seeing an increase in hotel transactions, now we are experiencing an increase in new hotel construction. Some projects are happening in areas already well populated with hotels.
The hotel industry is not going to publish or support any statistics about short-term rentals, especially single-family properties, but, as the song says, you can't have one without the other. No matter how many hotels there are, more and more consumers don't like noise in the hallway, something seemingly always "out of order" during an expensive stay, and things like having to pay to park when already paying to stay there.
Some municipalities, or portions of them, restrict short-term rentals, typically within proximity of major hotels. Having the right research person on your team could be the difference of finding an ideal rental property location. As data, such as shown in the below linked article, continues to reflect a demand for accommodations, so does the opportunity for real estate investors and professionals to take advantage.
https://www.bdcnetwork.com/home/news/55239451/hotel-construction-pipeline-surpasses-6200-projects-at-q3-2024
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