Airbnb just released their 2024 Summer Travel Trends report, and it looks like International Travel is the catchphrase of the season!
What does that mean for Newport?
With international travel being an option, and prices for rentals trending skyward in the Newport area, it's more important than ever to provide great value at a competitive price.
What are 2024 Summer travelers seeking? Airbnb reports that searches in the "Play" category doubled between 2023 and 2024. The Play category groups homes that have..." basketball courts, game rooms, miniature golf, waterslides and more."
Does your beach house come with beach toys for the kids, a wagon to take everything to the beach with you and a selection of beach towels, umbrellas, and coolers?
Airbnb also reports "... a 30% increase in searches for outdoor amenities, families are searching for space to spread out."
What does that mean for Newport and Rhode Island short term rental owners?
Make sure any outdoor spaces you have are spruced up and inviting. Rooftop decks should have great photography, good signage if needed (shared spaces for example), a clean grill with plenty of propane and trays to help carry things back and forth. If cushions and furnishings are old, check out Job Lot or Home Depot for updates, and be sure to photograph the space in a staged condition to add to your listing!
Does your property have any games or other entertainment? Add board games, karaoke machines, Play Stations, Oculus and other items to your property if you have the budget. Make sure instructions are provided or a QR code linking to instruction. High quality smart tvs in large sizes should be standard in every property, particularly for rainy days or quiet afternoons after the beach.
Spruce up yards and grill areas, get great photography and remember! You are a business, marketing and responding to market trends are costs of being a successful property. Grills should be thoroughly cleaned at least once a season.
The other aspect of the report shows a trend toward international travel. That indicates a smaller pool of domestic travelers, which was the segment that boosted Newport over the last 3 years. With a smaller pool of customers, you have to compete on value.
Value is a combination of quality amenities and competitive pricing. When you're pricing your short term rental, be mindful of your competition and seek professional advice from an experienced local Realtor®.
Warner Realty Group offers specialized rental experience in both Airbnb type short term rental properties and longer seasonal stays by the month and summer. If you're looking for professional management or leasing advice in these areas, call the Experts!