Very low occupancy for August

[Ekaterina180]

Hi community, 

I am located in Los Angeles and things have been soooo slow here. I have never seen such an empty calendar in august and I manage 10+ properties. All the same. Is anyone else has the same problem or how are your properties  doing? 

[Augustus13]

I've been hearing a of host saying the same thing, it's pretty slow on l this side of the globe it's slow every where.

I only had one booking  for August.

[Helen3]

Have you looked at supply and demand in your location for your type of listings @Ekaterina180 many markets are increasingly oversaturated coupled with falling demand.

[Greystone0]

Hi @Ekaterina180 ,

It's been an odd 2024 in general on our end, more cancellations and shorter lead times amongst other things. While our August was in decent shape, we have had an overall increase in inquiries across our sales scope, with folks just not pulling the trigger. It has been very odd. 

In addition we heard back from a few that their group just decided to go elsewhere. Like not to a competitor in my market but to another state altogether or to Europe. Hard to compete with that!

I get the distinct impression from our cancellations that folks are just 'reserving' a bunch of places to ensure they get a good spot and then make a travel decision to go elsewhere.  Again, not necessarily something that I can make up for within my own listing. 

For my part, I have decided to increase how I market my vacation area. So when an inquiry comes in I have decided that beyond 'marketing' just my property I will need to also marketing my area.

I think some version of this type of behaviour is happening broadly across the short term rental world, there is also the added pressure from a significant increase in the sheer volume of choices in short term rentals.

Wishing you much success!