Aidaptive’s community includes more than 50 property managers representing over 35,000 short term rental properties worldwide, with the largest concentration being in North America. A comparison of July 2023 and July 2024 unveiled trends for booking lead time and the number of nights booked.
The Highlights:
- Average nights booked: +4.4% YoY
- Average booking lead time: +15.0% YoY
Nights Booked
For the average number of nights booked, July of 2023 sat at 6.8 days. July of 2024 sees a moderate increase of 4.3%, up to 7.1 days. Average trip length is slightly up, meaning people are taking longer trips this July than last year.
Booking Lead Times
Aidaptive’s data showed the average booking lead time in July of 2023 to be 116.8 days – just under 4 months. In July of 2024, that number is holding at 134.3 days – or 4.5 months. This 15.0% YoY increase signals people are booking further ahead of their travel dates.
Rebounding Lead Times
Braeden Flaherty, Hospitality Program Director at Aidaptive weighed in with his thoughts. He shared:
“The rebound in booking lead times is an interesting and welcome change from the past few months when lead times have hit historic lows in many markets. If this trend continues we may see a corresponding increase in ADR as revenue managers no longer have to optimize for highly price-competitive last minute bookings.”
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