Except for the down year of 2020, the U.S. accommodation sector has been performing robustly, with the short-term rental segment gaining market share. We believe hotels will make a strong comeback in 2022 relative to the short-term rental sector.
In January, 40% of Americans traveled, only 5 percentage points lower than January 2020, before the pandemic hit. While we expect to see even more normalcy in travel as we move closer to another travel season, where the economy is heading could have an impact, as more than half of Americans now believe the U.S. economy will get worse in the next 12 months.
As the short-term rental market grows rapidly in Asia-Pacific, all of the stakeholders involved will grow along with it. The sector is expected to remain fragmented for now, but in the coming few years as the market matures and its demand-supply equilibrium gets defined, market leaders will emerge.
The STR industry in APAC is at a nascent stage with promising growth prospects. It is to be seen how the STR market matures to find its demand-supply equilibrium and market leaders.
In January, 40 percent of Americans traveled, only 5 percentage points lower than January 2020, before the pandemic hit. While we expect to see even more normalcy in travel as we move closer to another travel season, where the economy is heading could have an impact, as more than half of Americans now believe the U.S. economy will get worse in the next 12 months.