Airbnb, Homeaway, VRBO, and other short-term rental companies have revolutionized the way people travel. Instead of staying in a hotel for just one or two nights at a time, guests can now rent homes or apartments for their entire stay.
While this is great for travelers who want to feel more like locals on vacation, it’s also been a boon for the hospitality industry as well.
According to new research from AirDNA, which tracks data from all major platforms in the STR market (including Airbnb), STR guests tend to stay longer than hotel guests—and they’re spending more money while they’re here!
In recent years, short-term rentals (STRs) have become big business for the hospitality industry.
In recent years, short-term rentals (STRs) have become big business for the hospitality industry. In fact, STRs are a growing trend in the hospitality industry and offer an alternative to hotels.
There are many benefits to running your own STR:
- You can make money from renting out your home or apartment to vacationers and weekenders on sites like Airbnb or HomeAway.
- It gives you the opportunity to meet new people from all over the world who share your interests and passions.
According to its data, the average length of a vacation rental booking is six nights, whereas the average length of a hotel stay is 3.4 nights.
According to STR’s data, the average length of a vacation rental booking is six nights, whereas the average length of a hotel stay is 3.4 nights (excluding group bookings). This means that STR guests stay 72% longer than typical hotel guests.
The longer your guests stay with you, the more money they’ll spend on your property and in your local community. And because most properties are professionally managed by companies like HomeAway and Airbnb, this revenue stays in your town instead of going back to corporate headquarters.
Buying a STR in Riviera Maya Mexico is a great investment for Americans
If you’re planning to buy an STR in Riviera Maya, it’s important to keep in mind that this is a great location for investing. The area has lots of tourist attractions and activities, as well as beautiful beaches and surrounding areas.
Buying property in the Riviera Maya can be very profitable because there are many tourists who come here every year. This means that your rental income will increase over time and make it easier for you to pay off debt or invest more money into other properties.
Find a STR in Riviera Maya Mexico
If you’re looking for a new investment opportunity, buying a vacation rental might be the perfect fit for you. Buying a STR in Riviera Maya Mexico is especially attractive because of its proximity to the US and Canada, which makes it easy to find renters.
It also has beaches on both sides of the country, so there are plenty of places to stay near water or other attractions that tourists enjoy. If you have thought about getting into real estate but have been intimidated by traditional investments like stocks or bonds—or if those aren’t working well for your personal financial situation—then investing in STRs may be just what you need!
Click here to contact our real estate agents in Riviera Maya Mexico.
