Short-term Rental News Digest – November 2023

It’s the time of the year for reports and reflections. Whether you want to take a moment to reflect upon the highlights of the past year or what the new year has in store, this month’s digest has you covered. 

While some things – like the importance of guest communication – stay the same, there are also new features and trends to embrace. For one, Airbnb has launched a host of new tools aimed at hosts (and guests). 

If that doesn’t get you excited, most likely one of these travel predictions will. Cool climates are the hottest craze. Who knows maybe your destination is on the hot list? Or would that be the cool list now?

Airbnb Unveils New Features

Airbnb has unveiled its much-awaited 2023 Winter Release. To help guests manage their expectations, the platform introduced three huge upgrades. These include a new collection of the most-loved listings (aka Guest Favorites), a revamped rating page, and a new set of tools that hosts can use to manage their listings more efficiently. 

The tools that hosts can look forward to include:

• Price comparison that lets hosts compare similar listings’ prices
• Co-host messaging that allows hosts and co-hosts to communicate via the app
• New options for co-host payouts 
• A redesigned dashboard 
• Customizable reports
• Improved pricing visibility

Airbnb Reveals Exciting Traveler Trends for 2024

Airbnb has shared 24 of the top global destinations that they predict will trend in 2024. Japan, in particular, is set to be a popular place in the new year. 

Three Japanese cities made this list. What’s more, Japan also saw the highest increase in searches. Compared to the previous year, searches for accommodation in Japan increased by over three times. 

Some of the other destinations that are expected to attract more travelers include:

• Singapore
• Finland
• United Arab Emirates (more about this later)
• Thailand
• Guatemala

Next year also marks a rare event — a total solar eclipse. This means that domestic travel among US travelers is also set to deliver interesting trends. Destinations like Kerrville, Indianapolis, and Louisville, offer great views of the eclipse and are expected to enjoy increased demand in 2024. 

Aside from a rare cosmic event, travelers are also drawn to national parks, iconic cities, and beach destinations. These are three of the categories that are already popular for vacations next year. 

Some of the other US cities that are in for a busy 2024 include:

• Miami Gardens in Florida, USA
• Marble Falls in Texas, USA 
• Mountain Village in Colorado, USA

Booking.com Shares Predictions for Travel in 2024

Instead of focusing on top destinations like Airbnb, Booking.com shifted their focus to traveler behavior. They shared several statistics that they grouped together to create seven predictions. 

Here are some of the highlights that Booking.com expect to shape the travel industry in 2024:

• More travelers will create an alter ego for themselves while they’re on vacation. 
• Destinations with cooler climates will attract travelers. 
• The majority of travelers want to book a surprise trip or follow flexible travel plans. 
• Nearly half of travelers feel comfortable entrusting their trip planning to AI. 
• Indigenous cuisines will be big in 2024. 
• Many parents plan on traveling solo in the new year with a focus on self-improvement.
• Mindfulness and design will be big influences on travel. 

Insights Into the UAE Travel Market Revealed

For the first time, Booking.com also included insights from travelers in the United Arab Emirates (UAE) for their Travel Predictions 2024 report. Cooler climates and uninterrupted sleep are two of the main factors that will influence where they book a holiday. The vast majority of UAE-based travelers prefer a destination with a cooler climate, with seven out of 10 looking forward to uninterrupted sleep the most. 

That being said, they still plan on making time to learn about their destinations’ indigenous cuisines. Over 85% are eager to try new foods. 

While UAE residents might want to take a break from their warm weather for a few days, Dubai’s own vacation rental market is heating up. Asteco, a property consultancy, revealed that the number of registered holiday homes in Dubai increased by 45% year-on-year. The expanding tourism market, a demand for short-term accommodation, and an increase in holiday home management companies have all played a role in this growth. 

State of Guest Communication: Most Guests Unhappy 

Touch Stay’s Guest Communication Study 2024 reveals that more than 58% of guests didn’t feel very well looked after during their recent stays. Only about a third of guests received three or more messages from their hosts. 

Guests don’t take communication lightly. Nearly 70% of guests admitted that communication had the biggest impact on their likelihood to leave a good review.