• THE WORLD OF HOSPITALITY: 10,000,000 restaurants 500,000 Hotels 100,000,000 Employees    ONLY ONE ASSOCIATION COVER THEM
  • INTERNATIONAL HOTEL AND RESTAURANT ASSOCIATION        Geneva, Paris, Barcelona, Washington, Buenos Aires,Beijing,Beirut

News Details

STR: Short-Term Rental Occupancy In Nashville Increases

N.

http://www.hsyndicate.org/picture/153000991.jpg

Occupancy for the sector increased 83% from April to May, reaching a level of 49.4%. In April, short-term rental occupancy fell to 27%.

STR, the leader in global hospitality benchmarking and analytics, maintains the world's largest hotel performance database. Nashville is the first short-term rental market where STR is expanding its benchmarking offerings via a pilot study. Included in STR's short-term rental sample are both multi-family and single-family short-term rentals, with the majority of the sample being in close proximity to downtown, East Nashville and West End.

Nashville's short-term rental occupancy for May also came in higher than the 30.1% recorded by hotels in the market.

Despite this occupancy increase, average daily rate (ADR) for short-term rentals dropped to $64.79 in May, which was down 17.9% compared to April ($78.91).

ADR for Nashville hotels increased slightly in May, up 4.8% from April to $74.79.