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News Details

STR: Short-Term Rental Occupancy In Nashville Increases



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.