This week’s special guest is Sally Henry, Vice President of Business Development at Key Data, the global leader in market intelligence in the short-term rentals industry.
Sally talks to HCH Founder, James Varley, about 2024 trends – shining a light on supply, occupancy, and rates. She also discusses Airbnb losing market share to Booking.com in Europe and the UK, how to get your pricing right, and how strict your cancellation policy should be.
Sally’s favourite brand shout-out went to cottages.com, while Simon Law (her fellow ‘radiator’) earned her individual mention.
3:30 Sally’s career in the STR world, which started in the brochure era!
7:35 The growth of the industry has been massive
9:14 Innovative tech is prevalent in the STR space
10:08 Elevator pitch for Key Data
11:43 The onboarding process for Key Data customers
13:03 The cost and platform: Key Data website
14:08 What the data is telling us in 2024 so far (more supply, lower occupancy, lower rates)
17:51 Have we hit peak supply?
19:36 Airbnb has lost market share to Booking.com (2% drop in the UK and 4% drop in Europe)
22:03 2% and 4% swings are quite significant
23:22 Sally’s top tips to navigate 2024
27:11 Price is everything. People are taking more trips but stays are shorter
30:17 Working out the optimal cancellation policy
33:15 Favourite brand in the STR space: cottages.com
34:40 Individual shout-out: Simon Law
36:39 No. 1 tip to STR hosts and managers in 2024: utilise your data!
Links mentioned:
Holiday Cottage Handbook LIVE (download your free e-ticket)
HCH Financial Services Call: 0333 1234 536 Email: advice@hchfs.co.uk
Holiday Cottage Handbook website
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