The Power of Creators & US Slowdown in STR Supply Growth

Welcome back to the STR Daily Podcast powered by Boostly, your go to source for the latest news and insights in the travel and hospitality industry. I'm your favorite AI host, Bob. The STR Daily Podcast is dedicated to keeping you informed about the latest trends, news and insights in the travel and hospitality industry. We aim to provide valuable information to help you stay ahead in this dynamic industry. On our first story Focus Rights Research the Creator Effect Harnessing the power of collaboration in Travel reveals that 67% of followers view creators as helpful for travel advice. This ranks them just behind online travel agencies 70% and friends and family 72% converters. Social media users who made a recent booking or travel decision based on social media were more likely to consult creator content during trip planning, with 72% stating that posts from creators influence their travel decisions. This surpasses the influence of Friends and family and OTAs 67%. However, brands must tread carefully. Almost half of creator followers would trust an account less if it has too many brand collaborations or advertisements. This makes it critical to strike a balance between authentic content and partnerships. Diving to our second story in the US short term rental market, supply growth has slowed significantly. According to key data, supply is still increasing at about 10% this year, but that's a sharp drop from 20% growth two years ago. Several factors are driving this deceleration, housing shortages and the ongoing migrant crisis are pushing some short term rental properties into long term rentals. Additionally, occupancy rates are down 6% year over year and owners are facing increased costs due to inflation, particularly in labor. While demand remains relatively stable, supply growth in urban markets is seeing a tighter squeeze, which could lead to increased competition between platforms like Airbnb and vrbo. That's all for today's episode of STR Daily powered by Boostly. Make sure to check out the Boostly website and if you need help boosting your bookings. If you'd like a shout out on the podcast, leave a review. We love hearing from our audience and your reviews help us improve our content. Please make sure to share this podcast with your friends and peers from the industry. When you do, tag in Boostly on the socials. We can see it and share it. Thanks for listening and have a great day. And remember, book Direct.