A new monthly analysis of serviced apartments, short-term rentals and hotels is to launch soon that will provide vital details about performance in the sectors and enable government and local authorities to understand what is going on.
The UK Short Term Accommodation Association (STAA) has teamed up with data analytics firm STR to launch a tracking study to measure the three sectors simultaneously.
It will produce monthly and year-to-date performance metrics on occupancy, average daily rate and revenue per available room for hotels, short-term rentals and serviced apartments, as well as information on the average length of stay and cleaning fee per stay of short-term rentals.
STAA chair Merilee Karr (left) says it’s further evidence of the association’s commitment to help the short-term rentals sector grow responsibly and sustainably.
“The data that STR will share with us will give a cross-industry insight that has never been seen before,” says Karr.
“It will allow our members and industry commentators to get a measurable and credible picture on how our sector is growing and on how the different sectors within the industry compare.”
She adds that it will then use this evidence in conversations with Government and local authorities to help with evidenced-based discussions on the sector.
Several of London’s biggest short-term rental operators such as Guest Ready, Seven, Urban Stay and UnderTheDoormat have already been recruited to take part in a pilot in London this month.