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Dramatic Decline in Demand for Hawaii Vacation Rentals

share-iconPublished: Friday, January 10 share-iconUpdated: Friday, January 10 comment-icon3 months ago
News sources:
SFGATE
Dramatic Decline in Demand for Hawaii Vacation Rentals

Credited from: SFGATE

  • Hawaii vacation rental bookings have significantly decreased, with only 388,800 nights booked out of 803,100 available in November 2024.
  • The decline represents a 2.4% drop from 2023 and a staggering 38.3% decrease compared to 2019.
  • Travel advisers point to increased vacation costs, driven by inflation and higher taxes, as a key factor for the drop in demand.
  • Competition from hotels is growing, with their average nightly rates closely matching or surpassing those of vacation rentals.
  • Regulatory changes and supply changes in the market further complicate the landscape for vacation rentals in Hawaii.

For the full article, visit the original source: SFGATE.

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Hawaii Vacation rentals Tourism Hotel stays Travel costs
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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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