Gas prices are currently up 50% from last year, and it doesn’t look like they will level off anytime soon.
After we faced off with the pandemic are rising gas prices the next hurdle that will trickle down into the SRT industry?
At first glance, it would seem like the right answer would be a resounding yes.
But there’s actually a lot more data that goes into determining if rising prices are going to trip up the travel industry.
On this edition of STR Conversations, Eric and I sit down to discuss AirDNA’s report, How Rising Gas Prices May Influence Airbnb Travel Trends.
We’ll cover the average amount of miles a guest travels to their Airbnb and we explain which places and types of accommodations will do better as travel becomes more expensive.
Listen in to get a broader sense of what’s happening, and at what point the higher gas prices might start impacting your bottom line. We share the data you need to quell your anxiety about the things you can’t control so you can focus on what you can, so you can determine what decisions you need to make for your business.
Don’t forget we’re organizing our first in-person mastermind retreat in Oaxaca, Mexico, from June 16-20th. This is the last week to apply for early bird pricing, so if you want to learn more be sure to visit STR Legends Mastermind.
- How being prepared helps you respond to intense situations in business and in life
- Are rising travel costs going to make people choose rental locations closer to home
- Which rental markets you want to be in based on the current record-breaking gas prices
- What we should focus on instead of average cost per property
- How gas prices affect you depending on your average ADR
- Why leaning into what you can control will give you a better outcome no matter what gas costs
- How to determine when the higher gas prices will impact stays and your bottom line