As Airbnb and short-term rental (STR) hosts gear up for the new year, they’re closely watching anticipated travel trends to better understand future guest preferences and market demands. Seiko Ma, the Managing Director of the renowned property management firm Alice’s Home, shed light on fascinating insights indicating that 2024 will see a shift in travel and accommodation patterns.
In what could spell a resurgence for international and domestic travel, Airbnb has highlighted that adventurers are setting their sights on diverse destinations for the coming year. Seiko Ma relayed that “according to the insights just released by Airbnb, Japan, Taiwan, and Albania all feature among the most trending destinations for travel in the new year. Domestically, Melbourne is on the agenda for both local and international tourists.”
The allure of a destination’s environ is proving to be a significant factor influencing booking decisions. It seems the draw of accommodations extends beyond their interiors, as guests are prioritizing enticing scenic locations. “Guests expect the accommodation itself will be appealing, and are looking further to be enticed. They will be choosing Airbnb and STR property based on proximity to parks, beaches, breathtaking views, and beautiful pools,” elaborated Ma.
2024 also signals a growing shift towards professional management of Airbnb and STR properties, a response to fast-moving industry regulations and escalating expectations from both guests and hosting platforms. Explaining the value of such services, Ma highlighted the full suite of support they provide: “Professional management organisations assist in areas like marketing the property, sourcing guests, paperwork on both sides, as well as maintenance of the property between bookings and routinely.” She also added that while local options like Alice’s Home offer personalized support, budget-conscious property owners may look to global virtual solutions such as MyVirtualCoHost.com.
In the face of economic pressures including a housing shortage, rising living costs, and increased interest rates, innovative hosts are expected to turn towards portable homes as both a novel experience for guests and a practical solution to prevailing issues. “Portable homes also offer a lower commitment option to find out about life in a particular area before making a more permanent commitment,” Ms Ma explained.
These projections for 2024 not only highlight changing consumer priorities but also suggest an evolution in the short-term rental market, encompassing destination choices, guest expectations, property management preferences, and innovative housing solutions.