This is a podcast episode of STR Daily (host Bill) recorded/airing on Monday, June 17, 2024. The episode covers two main stories: (1) Euro 2024 is driving a sharp short-term rental booking surge in several German host cities—Gelsenkirchen reported a 170% rise in occupancy during the group stage, Stuttgart’s group-stage occupancy rose from 34% to 66%, and the tournament (which began June 14) is expected to draw about 12 million tourists to Germany with nearly 3 million attending matches; and (2) Expedia Group is consolidating brands, announcing the closure of Ebookers UK on September 4 (customers’ existing reservations and rewards will be migrated), expansion of its One Key loyalty program into parts of Europe, and noting that Expedia acquired Ebookers (via Orbitz) in 2015 for $1.6 billion; Arianny Goren is named to oversee the transition.
Questions this episode answers
Monday, June 17, 2024.
June 14, 2024.
170% increase in occupancy rates.
Doubled from 34% to 66%.
About 12 million tourists to Germany, with nearly 3 million attending matches.
Chapters
Welcome to STR Daily, brought to you by Boostly, where we're all about boosting your short term rental game. I'm Bill, your host for today because apparently the usual host decided to take a vacation day or something. Unlike Mark, I like to bring a little humor to my daily News Drops. Today is Monday, June 17th and we've got some exciting news and insights to share with you. Lets dive in shall we? First up, Euro 2024 is making waves in the short term rental market and I'm not just talking about the German football fans. Celebratory beer spills According to airdna, Scotland and England are leading the charge in bookings for the tournament. It's like they're competing for the Henri Delaunay trophy of short term rental occupancy rates. The German cities of Stuttgart, Gelsenkirchen and Dortmund are experiencing a surge in bookings, with Gelsenkirchen seeing a whopping 170% increase in occupancy rates during the group stage. I guess the local hosts are practicing their victory dance moves in anticipation. The tournament, which kicked off on June 14, is expected to draw around 12 million tourists to Germany, with nearly 3 million attending the matches. It's like the entire population of Berlin decided to have a giant football party. The most anticipated matches, like Scotland versus Hungary in Stuttgart on June 23 and Serbia versus England in Gelsenkirchen on June 16 are driving high occupancy rates in these cities. Stuttgart in particular is hosting three of the top 10 most anticipated matches and their average occupancy rate during group stage matches has doubled from 34% to 66%. It's like they're trying to break the record for the most people crammed into a stadium at once. Now let's move on to our next story where Expedia Group is playing a game of brand consolidation. They've announced the closure of Ebookers UK on September 4th. It's like they're trying to simplify their operations by playing a giant game of musical chairs with their brands. Expedia's new CEO Arianny Goren will oversee the transition. Customers of Ebookers UK will be able to travel on their existing reservations without disruptions, and their bonus plus loyalty rewards will be transferred to one key accounts on Expedia Hotels.com or VRBO. It's like they're trying to create a loyalty program version of the Hunger Games. The closure of Ebookers UK follows a series of brand eliminations by Expedia Group, including Agencia Silver Rail Classic Vacations, Expedia Group, multifamily alice and bodybuilder.com it's like they're playing a game of brand survival, and only the strongest brands will make it to the final round. Expedia's one key loyalty program, which combines the distinct loyalty programs of its brands, is set to expand from the US into parts of Europe. It's like they're trying to create a loyalty program version of the European Union. Expedia Group inherited ebookers in 2015 when it acquired Orbitz Worldwide for $1.6 billion. It's like they bought a shiny new toy and now they're deciding to retire it because they've got too many toys already. Well, that's all for today's STR Daily. Thanks for tuning in and we'll be back tomorrow with more short term rental news and insights. And remember, when it comes to short term rentals, always aim for a five star rating because anything less is just a participation trophy.
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