Short-Term Rentals See Last-Minute Bookings Rise But at Lower Rates
Photo Caption: This loft-style flat next to Battersea Park in London, UK, was recently available as a featured apartment for rental by travelers on Altido, a short-term property management group owned by DoveVivo. Source: Altido.
Skift Take
Discounted deals on last-minute bookings are more than just a passing trend. It's fast becoming a market with many entrants. But it's unlikely to alarm bigger players like Airbnb and Vrbo unwilling to compromise on brand and experiences.
In the era of slow travel and quicker planning, those who wait until late might win.
In 2022, the average daily rate in the U.S. was $25 higher for stays booked more than 14 days out than stays booked less than 14 days prior to arrival ($303 vs $277), according to Key Data, which provides short-term rental market data. In Europe, it was $5 higher ($157 vs $162).
That should explain the rising number of players and partnerships in this space — Among the latest is San Clemente-based last-minute online travel marketplace Getawaygogo, which charges a fee of $10 per discounted last-minute bookings paid by the property manager. The company announced a partnership with European vacation rental management company Happy Rentals, adding over 2500 properties across 11 countries to its platform. And in January this year, it was added to online channel management platform NextPax.
“We have enough data to show that in a downturn, people tend to keep plans flexible and make bookings closer to the arrival dates,” said Bradley den Dulk, founder of Getawaygogo. “This trend is also seen in emerging markets, where people wait until the last minute to book stays.”
Dulk, who sold his previous company Beachside Rentals to Vacasa in 2018, is confident that the trend of last-minute bookings is here to stay. Getawaygogo reflects this attitude where users can book stays only 14 days in advance. “This model allows us t
