Avalara, Inc., a number one supplier of tax compliance automation software program for companies of all sizes, as we speak introduced the findings of a current survey that sheds mild on the preferences and behaviors of vacationers regarding brief time period leases (STR). The survey was performed by Bastion Insights throughout a summer time journey season that noticed bookings up 15% year-over-year through the Fourth of July vacation and located that 70% of respondents are open to contemplating STRs for journey lodging. Whereas the survey confirmed that STRs are gaining traction within the lodging business, respondents additionally confirmed a choice for accommodations, and 12% of vacationers mentioned they’d not take into account staying in an STR.
Avalara’s survey gives new insights into elevated traveler choice for STRs as an possibility for lodging, notably these touring with households and enormous teams, at the same time as cities in areas throughout the U.S. proceed to restrict or curb trip leases.
Key Findings:
- Lodging Preferences: General, half of respondents have stayed in an STR and 41% of respondents assume STRs present one of the best lodging for these touring with a household or massive group. Vacationers preferring STRs prioritize charges (34%) and price transparency (27%), seemingly resulting from ongoing inflation and financial issues. Respondents 35 years and older are probably the most value delicate. These with youngsters are probably the most involved with securing pet-friendly lodging in addition to lodging that’s conducive to bigger teams.
- 88% of vacationers would ebook a second STR keep: As soon as vacationers expertise an STR keep, 88% are more likely to take into account reserving one once more. Vacationers who’ve stayed in an STR credit score them with having extra advantages in comparison with different lodging choices, which seemingly contributes to this excessive price of satisfaction.
- Growing consciousness of distinctive STR choices is essential to phase development: The first barrier to picking an STR is the notion that there’s just one kind of itemizing. Certainly, 36% of vacationers famous they won’t want a whole home when touring. To deal with this situation and meet various traveler wants, STR suppliers and business organizations are inspired to teach the general public concerning the universe of choices accessible, from single room lodging, to smaller flats or condominiums, and distinctive properties starting from yurts and treehouses to mansions.
- Simply 9% of vacationers report a destructive STR expertise: Just one in 10 vacationers contemplating a STR say there’s a lack of availability within the areas they need. Solely 9% cite having a previous disagreeable expertise as a cause to not take into account reserving a STR once more.
- STR traveler profile is younger and street savvy: The survey discovered those that have stayed in an STR are typically youthful and employed full time. They’re additionally extra more likely to have traveled prior to now yr and plan to journey internationally within the subsequent yr.
Journey is the most important mover of human beings, and maybe by no means extra so than within the 2024 summer time journey season. At present’s traveler expects extra selections in all sides of their journey, together with lodging. Our survey outcomes point out robust demand and a rising urge for food for various lodging choices. Quick-term leases have grow to be more and more well-liked and are actually a mainstream alternative for journey. To completely notice their potential, the business should deal with addressing client considerations about pricing transparency whereas highlighting the big selection of choices. By educating vacationers on these advantages, the STR sector can enhance curiosity and precise bookings. Pam Knudsen, Senior Director of Compliance Companies at Avalara
About Avalara
Avalara makes tax compliance sooner, simpler, extra correct, and extra dependable for 41,000+ enterprise and authorities prospects in over 75 nations. Tax compliance automation software program options from Avalara leverage 1,200+ signed associate integrations throughout main ecommerce, ERP, and different billing methods to energy tax calculations, doc administration, tax return submitting, and tax content material entry. Go to avalara.com to enhance your compliance journey.
Brian Austin
Avalara
