Short&Term Rentals Continue Trend of Taking Market Share from Hotels & CBRE U.S. Hotels State of the Union July 2024 Edition

In May, short&term rentals continued to take share from hotels, with demand growing 13% compared with a 1.5% increase in hotel demand. While RevPAR growth for STRs was positive, up 4.2%, occupancy has dropped to below pre&pandemic levels as supply growth has continued to increase.