SUPPLY GROWTH PEAKS: EVOLVE REVEALS LATEST VACATION RENTAL INDUSTRY TRENDS FOR SUMMER 2023
DENVER, Oct. 9, 2023 /PRNewswire/ -- Evolve, the fastest-growing vacation rental hospitality company in North America with more than 30,000 properties in 750 markets, has just unveiled its detailed survey of vacation rental industry trends for summer 2023. The report, available at evolve.com, takes a deep dive into market supply, demand, and economic impacts; highlighting the changes and opportunities that are on the horizon for short-term rental owners.
- July and August brought the lowest supply growth rates in about a year, while demand continues to grow
DENVER, Oct. 9, 2023 /PRNewswire/ -- Evolve , the fastest-growing vacation rental hospitality company in North America with more than 30,000 properties in 750 markets, has just unveiled its detailed survey of vacation rental industry trends for summer 2023. - As we predicted in spring , the supply and demand growth gap is shrinking — dropping from 17% in August 2022 to 6% in July 2023," said Eric Schueller, Executive Vice President of Revenue at Evolve.
- This makes one thing more clear: the vacation rental industry's staggering supply growth over the last year is beginning to lose its momentum.
- July brought in nearly 9 million check-in nights, a monthly all-time high for the vacation rental industry and an 88% increase from July 2019.