Transcript

No Stadium, No Tickets, 430% · STR Unpacked

Ben: Good morning and welcome to your short-term rental bulletin on the 7th of July. So I want to talk about the Tour de France because I think it's really interesting, right? Obviously it has no stadium, no tickets, no fixed address, which makes it quite unique as a sporting event. I also think it makes it the cleanest demand experiment for European short-term rentals. So I want to reference Price Labs as they've just published the numbers for this year's route. So Paris, which hosts the finale, almost every year to be honest, is up just 17 % on book nights. So that's really statistically invisible inside a normal Parisian July. But if you look at somewhere like Abdu'ez, book nights are up 263 % and revenue per available rental is up 430%. the little valley town at the base of the climb jumps from 47 to 63 % occupancy with rates up 69%. So I think this is a really, really interesting experiment and example of how sport can change the effects, particularly in small towns, you know? And I think the pattern is simple. The famous cities really just shrug this off, like it doesn't matter, but the small towns are absolutely exploding. And I think this is the operator takeaway. The route is announced every October, nine months ahead. So if it's moving near you and the market that you operate, you need to adjust your calendars nine months ahead, not the week that it takes place. Thank you for watching and I'll see you tomorrow.