This Business News Story Was Uncovered By Us From: https://www.youngupstarts.com/2020/12/03/the-lodging-and-travel-industries-will-reckon-with-a-multi-year-covid-19-event-horizon-2021-lodging-trends-predictions/
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by Pamela Knudsen, Director of Compliance Services for Avalara MyLodgeTax
As the world struggles to control the spread of Covid-19, the travel and lodging sectors continue to navigate the unprecedented turbulence and major business challenges delivered by 2020. The U.S. is showing a 50 percent decline year-over-year in digital travel sales, which are not expected to bounce back to pre-pandemic levels until 2022. Even with the promise of a pre-pandemic return to a new normalcy in the next three years, we can expect some pandemic vacation trends such as “staycations” and road trips to thrive as the world gains some control of the virus.
Here are some key trends and predictions as we look ahead to the status of short-term rentals in 2021 and beyond.
1. Self-regulation.
Self-regulation will enter the short-term rental vocabulary in the coming year, in step with the tightening and enforcement of local rules and restrictions. While travel during the pandemic isn’t forbidden, in many areas gatherings of more than 10 people are currently not allowed. One of the concerns amplified by the pandemic is that of renters hosting large gatherings in violation of local regulations. Hosts and property managers need to step up to ensure the long-term viability of rentals in their community, and technology can help. Services, such as NoiseAware, which allow owners to be alerted if the decibel volume in their rental goes above their indicated settings, helps ensure that guests are following local guidelines. Self-regulation, in addition to being the responsible course of action, will protect short-term rental owners from incurring fines as well as potentially losing their lodging license due to non-compliance. Fewer noise complaints means happier neighbors and a … Read More
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