Wednesday, December 30, 2009

What Does Hotels Have in Common with Real Estate?

Plenty, especially if you are investing in the vacation market and want to rent our your property as a short term rental.  Hotel occupancy and short term rental occupancy go hand in hand. If hotel occupancy is down, so are your bookings for your short term rental property.

Orlando Hotel occupancy has been down for the past few years but slightly up from November 2008.  Hotels are 50-65% full, and as result prices, have been cut to get "heads in beds".  The same is true price per night for your short term rental is less than years ago, in effort to stay competitive and get people to stay at your rental.  Short Term rentals offer much more living space and value than a hotel room, and a remain popular option and investment with families. 

As hotel occupancy increases, bookings with your short term rental will be as well.  See full details in the Orlando Sentinel.