Latest / STR Unpacked / 12.5% Fewer Listings. 12% More Guests.
Transcript
- Ben: Good morning and welcome to your short-term mental bulletin on the 4th of September. So, really interesting data coming out of Spain this morning. So 12.5% fewer short-term mentals than a year ago. I think, you know, if you follow this channel for a while, that's not going to be a massive surprise for you, or just if you know the Spanish market. However, in July, 12% more tourists stayed in them. So to dive into this a little bit, the INE published the July numbers on Tuesday. So we are looking at 11.5 million international tourists, which is up 4.6%, spending 18.2 billion euros, which is up 10.9%. The line that matters is accommodation type. So tourists whose main estate was a rented house rose 12%. Hotels still rose, but they only rose 3.8%. So from January to July, rented homes were up 11% to 7.7 million tourists. And that is on a listing base that AirDA had shrinking 12.5% in the same month. So fewer legal listings, more guests choosing them. Spend in non-hotel paid accommodation rose 20.6% with an average day of 10.7 nights against 5.1 in hotels. So the wider European numbers stay the same on demand. Eurostat's first half, also out Tuesday, is 1.32 billion nights, up 1.7%. Foreign visitors up 2.5%, domestic up 0.9%. So Ireland led 14.6, Malta 9.9, but interestingly, nine countries fell, Cyprus and Romania being the furthest. And platforms are spending to catch it. So Expedia announced 12 new Verbo and Escapia products on Tuesday, sponsored listings, now global, same-day bookings live, and non-refundable rates and Expedia packages to follow. A host protection scheme in beta. Rumex, the Dublin Workforce Travel Platform, added 172,000 self-catering properties for multi-week project stays. So supply is being regulated down while the demand for product keeps rising, and both the OTAs and the corporate channels are booking tools for whoever is left. The constrained side of this market is the side you're standing on. Regulation cuts the listings, but it clearly doesn't cut the guests, right? So have a good week. Thank you for watching and I'll see you next week.