Here's What You Need To Know Today
- 🧹Airbnb announced this morning they will be now requiring 24 hours between stays and will be releasing a new 40-page cleanliness guidelines document that hosts will need to certify they are adhering to. It is currently unclear how this rule will affect previously booked stays, and if back-to-back stays will need to be cancelled or shortened to be compliant with the new guidelines.
- 💸PPP was funded again last week by Congress, and is expected to officially restart today at 10:30 AM EST. I'm advising my VRM consulting clients to apply to multiple banks to get in line for this next round of $320 billion that is expected to run out quickly again.
- 📅The next Airbnb Host Update is scheduled for Tuesday, April 28 at 3pm PST. Here is the link to watch the conference. Expect to hear updates from Brian Chesky on Airbnb's March promises that CNBC reported last week that Airbnb still hasn't delivered on.
- 📊Compare your STR portfolio to the hotel industry. New Data is showing that for the week ending April 18th, Hotel revenue per available room (RevPAR): was down 79.4% YoY to US$17.43. How does your STR portfolio compare?
Mini Course Giveaway
- 📈Airbnb bookings in China are up 200% in April compared to March 2020. AirDNA data also show the daily average rate in China from May onward is similar to what it was in 2019. This is a good indication that when the lockdowns are over, people will feel more comfortable booking entire properties rather than staying in a crowded hotel with shared air circulation and common spaces.
- 🤑To help VRMs during this difficult time, I've put together a No-Strings-Attached Free Mini-Course called 5 Ways VRMs Unknowingly Lose Money. This mini course is based on 5 universal lessons I've learned from my experience helping 100+ VRM companies setup, fix, and automate their accounting systems.
Have a great week,
James von der Lieth