*Updated June 29th, 2020
As one of the largest and most diverse countries in the world, the United States boasts an amazing amount of tourist destinations. Tourism is considered a vital part of many people’s lives and, according to US tourism statistics, it contributes to building the economy and creating jobs. In 2019, domestic and international travelers spent $1.1 trillion in the U.S. and directly supported 9 million U.S. jobs.
The Covid-19 pandemic has brought travel and tourism to a near-standstill also dragging down with it the short term rental market, and no one is sure when it will restart.
How hard coronavirus hit the travel industry? Will the short term rental market be able to recover?
We have collected the appropriate data, to draw usable conclusions and perhaps get the dose of optimism that many of us need.
Please find below the statistics we have collected from Syncbnb customers, spanning 78 countries around the world and several properties.
New bookings per week (2019 vs 2020)
Looking at the above chart we observe the following:
- Even since February 2020, there has been a marked decline in new bookings, which bottoms out in April, as this was the month with the most confirmed cases of Covid-19 around the world, with government taking drastic measures to tackle the pandemic
- Since the beginning of May, there has been a steady increase in bookings, almost at the same levels as at 2019.
Stays 2019 vs stays 2020
Stays per month, from bookings made before June 29, in the USA
In order to be able to compare 2019 with 2020 on equal terms, we look at the bookings made until June 29.
The drop is obvious this year, but every week that passes we will see that the patterns on the 2 graphs converge.
The autumn months this year are very close to last year’s numbers.
Stays per month, from reservations, made any month, in the USA
Observing stays for both years that were booked any time, we will observe a similar pattern. The differences between this year and last year, peak from April to June.
To conclude, the pandemic has affected bookings in the USA, but new bookings are expected to increase in the coming months. We will update the new stats every week.