STR Data Lab™ by AirDNA

What does it take to survive—and thrive—through 15 years of nonstop change in the short-term rental industry? In this episode of The STR Data Lab, AirDNA Chief Economist Jamie Lane sits down with Brian Egan, Co-Founder and CEO of Evolve, to unpack the evolution of one of the industry's earliest and most influential companies. From launching before Airbnb became a household name to navigating COVID, supply surges, regulatory shifts, and today's AI revolution, Brian shares hard-earned lessons from building through every phase of the market.The conversation explores how Evolve pioneered an asset-light management model long before it became a trend, why the industry's post-pandemic hangover was more challenging than the boom itself, and what it takes to maintain growth when market conditions are constantly shifting. Brian offers an owner-focused perspective on performance, explaining why metrics like RevPAN matter and how operators can adapt as supply, demand, and traveler behavior continue to evolve.Jamie and Brian also dive deep into the transformative role of AI. From guest communications and revenue management to product development and operational efficiency, they discuss how technology is reshaping the way vacation rental businesses operate—and why the companies that combine strong foundations with rapid innovation will be best positioned for the next chapter of growth.You don't want to miss this episode!Key TakeawaysThe strongest businesses are built for long-term market cycles. Evolve's 15-year journey highlights the importance of staying focused through both industry booms and downturns.RevPAN remains a critical metric for understanding owner success. Looking beyond occupancy and ADR provides a clearer picture of real property performance.AI is becoming a force multiplier across every part of STR operations. Guest support, listing optimization, revenue management, and product development are already seeing meaningful gains.The future belongs to flexible management models. Owners increasingly want a balance of professional support, operational efficiency, and control over their assets.The industry's fundamentals remain strong. Despite recent challenges, growing travel demand, shifting consumer preferences, and continued innovation point toward a promising future for short-term rentals.Sign up for AirDNA for FREE 👇https://bit.ly/4j6s6qy —————Connect with Jamie on social mediaLinkedIn: https://www.linkedin.com/in/jamiehlane/ Twitter: https://twitter.com/Jamie_Lane—————Connect with Brian on social mediahttps://www.linkedin.com/in/brianwegan/Evolve WebsiteConnect with Evolve on social media:LinkedIn: https://www.linkedin.com/company/evolve-vacation-rental/Instagram: https://www.instagram.com/evolvevacationrental/Facebook: https://www.facebook.com/evolvevacationrental/ —————Connect with AirDNA on social media:Instagram: https://instagram.com/airdna.coLinkedIn: https://www.linkedin.com/company/airdna/Twitter: https://twitter.com/airdnaTikTok: https://www.tiktok.com/@airdna.co—————Episode 186

Is 2026 shaping up to be a breakout year for short-term rentals — or another year of mixed signals? In this January market review, the STR Data Lab team unpacks early indicators that could define performance for the rest of the year, from rising bookings and shifting travel patterns to economic tailwinds and major event demand. For hosts, property managers, and investors, these first-month signals offer critical clues about where revenue opportunities — and risks — are emerging.While occupancy dipped year over year due to continued supply growth, bookings surged at one of the strongest rates in months, signaling healthy future demand. Coastal destinations are seeing robust early reservations ahead of spring break and summer travel, while urban markets are experiencing a surprising boost driven largely by anticipation of the upcoming World Cup. Meanwhile, mountain and ski destinations are facing headwinds from a weak Western snow season — a reminder that hyper-local factors can still outweigh national trends.The episode also zooms out to the economic backdrop shaping travel demand: job growth, disposable income, inflation trends, tax policy changes, and even larger tax refunds. The takeaway is clear — when people have money in their pockets, travel follows. Add in the potential windfall from major events like the World Cup, and hosts across many markets could see outsized revenue opportunities if they prepare early.You don’t want to miss this episode if you’re planning pricing, investments, or strategy for 2026.Key TakeawaysBooking momentum matters more than current occupancy. Strong forward bookings suggest healthy demand ahead even if winter performance looks weak.Coastal markets are leading early for spring and summer travel. Hosts in beach destinations should prepare for competitive pricing and high demand.Major events create spillover demand beyond host cities. Nearby markets may benefit from travelers extending trips around large events.Mountain market performance is highly weather-dependent. Diversifying seasonality strategies can reduce risk in ski destinations.Economic conditions are turning favorable for travel. Rising disposable income and tax refunds could fuel increased bookings in 2026.Sign up for AirDNA for FREE 👇https://bit.ly/4j6rRMahttps://www.airdna.co/worldcup—————Connect with Jamie on social mediaLinkedIn: https://www.linkedin.com/in/jamiehlane/ Twitter: https://twitter.com/Jamie_Lane—————Connect with Scott on social mediaLinkedIn: https://www.linkedin.com/in/sagescott—————Connect with AirDNA on social media:Instagram: https://instagram.com/airdna.coLinkedIn: https://www.linkedin.com/company/airdna/Twitter: https://twitter.com/airdnaTikTok: https://www.tiktok.com/@airdna.co—————Episode 170

What happens when one of the largest centralized property managers in short-term rentals meets a deeply local, franchise-driven model? In this episode of The STR Data Lab, AirDNA’s Chief Economist Jamie Lane sits down with Steve Schwab, CEO of Casago, to unpack one of the most consequential industry shifts of the past decade: the Vacasa–Casago merger.Steve shares an honest, behind-the-scenes look at how the integration is unfolding — from transitioning thousands of homes and teammates to rethinking how scale, culture, and accountability actually work in hospitality. The conversation goes beyond headlines to explore why local ownership, empowered teams, and owner-centric decision-making may be the antidote to the operational strain that has challenged large STR operators in recent years.Along the way, Jamie and Steve dive into franchise economics, technology complexity, churn as a health metric, and the often-underestimated skill that separates top-tier operators from the rest. Whether you’re an independent host, a growing property manager, or an industry professional watching STR evolve in real time, this episode offers a rare perspective on where the business is headed — and what it takes to build something that lasts.This is one conversation that will change how you think about scale, leadership, and success in short-term rentals — you don’t want to miss it.Key Takeaways You Can Apply TodayLocal ownership matters more than ever: Empowered, in-market operators create stronger relationships with homeowners, guests, and communities — and reduce churn.Scale isn’t just about size: Breaking operations into locally accountable units can avoid the “dis-economies” that plague centralized models.Technology complexity is the silent killer: From PMS integrations to revenue management and accounting, STR operations are far deeper than they appear — especially in year one.Churn is a health check, not just a metric: Monitoring churn at both the market and portfolio level reveals operational and cultural issues early.The best operators know when to say no: Curating the right inventory, homeowners, and guests is often what separates top-performing property managers from underperformers.Sign up for AirDNA for FREE 👇https://bit.ly/4qjPZNU—————Connect with Jamie on social mediaLinkedIn: https://www.linkedin.com/in/jamiehlane/ Twitter: https://twitter.com/Jamie_Lane—————Connect with Scott on social mediaLinkedIn: https://www.linkedin.com/in/sagescott—————Connect with AirDNA on social media:Instagram: https://instagram.com/airdna.coLinkedIn: https://www.linkedin.com/company/airdna/Twitter: https://twitter.com/airdnaTikTok: https://www.tiktok.com/@airdna.co—————Episode 168

2025 was anything but predictable for short-term rentals. After a surprisingly strong start, the second half of the year told a very different story — and the December data brings that contrast into sharp focus. In this episode of The STR Data Lab, AirDNA Chief Economist Jamie Lane is joined by Bram Gallagher to break down the final U.S. performance numbers and what they reveal about the state of the STR industry heading into 2026.From weakening occupancy to long-awaited ADR growth finally outpacing inflation, the conversation unpacks why topline stability masked huge disparities beneath the surface. While national averages ended the year nearly flat, many operators experienced dramatic wins or losses depending on where they operate, who they serve, and how they’re positioned. The episode also explores how broader economic forces — cooling labor markets, mortgage-rate volatility, and a K-shaped economy — showed up clearly in STR performance.Looking ahead, Jamie and Bram dig into pacing data for early 2026, uncovering encouraging signs for spring break and summer travel, especially in resort markets. They also discuss what easing mortgage conditions and stabilizing occupancy could mean for investors considering their next move. Whether you’re managing one property or a growing portfolio, this episode helps cut through the noise to understand what really drove performance — and what to watch next.You don’t want to miss this episode!Key Takeaways for STR Hosts & Operators2025 was a tale of two halves: Strong performance early in the year gave way to declining occupancy in the back half, despite modest ADR gains.Averages hide extremes: While national occupancy finished flat, nearly half of major markets saw meaningful gains — and others saw steep declines.Luxury outperformed across the board: Higher-priced listings consistently captured stronger (or less negative) occupancy than budget properties, reinforcing the K-shaped economy.Resort markets led the way: Coastal and mountain destinations posted the strongest occupancy and ADR growth, while urban markets continued to struggle.Early 2026 signals are improving: Spring break and summer demand are pacing well, lead times are stabilizing, and easing mortgage conditions may unlock new investment opportunitiesYear End Review:https://www.airdna.co/blog/us-review-december-2025—————Sign up for AirDNA for FREE 👇https://bit.ly/3Yz8mlS—————Connect with Jamie on social mediaLinkedIn: https://www.linkedin.com/in/jamiehlane/ Twitter: https://twitter.com/Jamie_Lane—————Connect with Scott on social mediaLinkedIn: https://www.linkedin.com/in/sagescott—————Connect with AirDNA on social media:Instagram: https://instagram.com/airdna.coLinkedIn: https://www.linkedin.com/company/airdna/Twitter: https://twitter.com/airdnaTikTok: https://www.tiktok.com/@airdna.co—————Episode 166

Is the short-term rental industry struggling — or simply growing up? In this episode of The STR Data Lab, AirDNA Chief Economist Jamie Lane sits down with Simon Lehmann to unpack what “normalization” really means for STR operators, investors, and property managers heading into 2026. After years of explosive growth, the industry is entering a new phase — one defined less by expansion and more by execution.Simon shares why demand hasn’t collapsed the way headlines suggest, why strong operators are still thriving, and why the biggest shift happening right now is in expectations. Growth rates, margins, and valuations are resetting — but that doesn’t spell trouble. Instead, it’s forcing a long-overdue focus on discipline, systems, and unit-level profitability. As competition intensifies and margins compress, professionalism is no longer optional.The conversation also dives into technology and AI, exploring why the future isn’t about more tools, but fewer — and better — ones. From fragmented tech stacks and data silos to the elusive “source of truth,” Jamie and Simon explain why operators who master their data will be best positioned to survive (and win) in the next chapter of STRs.You don’t want to miss this episode if you’re planning for 2026 and beyond.Key Takeaways from This EpisodeNormalization ≠ downturn: The STR industry isn’t collapsing — growth expectations and return profiles are simply resetting.Execution now beats expansion: We’ve moved from a growth story to a selection story, where strong operators pull ahead.Professionalization means discipline: Systems, process rigor, and unit-level economics matter more than portfolio size.Margins are under pressure: Rising costs and regulation make revenue management and cost control essential skills.Tech stacks must simplify: The next wave of STR tech will focus on integration, AI-driven insights, and a single source of truth — not more point solutions.Sign up for AirDNA for FREE 👇https://bit.ly/4jcZdsL—————Connect with Jamie on social mediaLinkedIn: https://www.linkedin.com/in/jamiehlane/ Twitter: https://twitter.com/Jamie_Lane—————Connect with Scott on social mediaLinkedIn: https://www.linkedin.com/in/sagescott—————Connect with AirDNA on social media:Instagram: https://instagram.com/airdna.coLinkedIn: https://www.linkedin.com/company/airdna/Twitter: https://twitter.com/airdnaTikTok: https://www.tiktok.com/@airdna.co—————Episode 164

What happens when supply finally stabilizes, demand shifts gears, and the global economy refuses to follow the script? In this year-end Outlook episode, AirDNA Chief Economist Jamie Lane sits down with Bram Gallagher to break down what actually happened in 2025 — and what STR hosts and property managers should prepare for in 2026.Together, they revisit last year’s predictions on supply growth, occupancy, and pricing, grading where the industry hit the mark (and where reality surprised us). The conversation then looks forward, unpacking how macroeconomic forces — from inflation and interest rates to housing affordability and global travel trends — are shaping the next phase of the short-term rental market.The takeaway? 2026 may not be a breakout year, but it’s a pivotal one. With supply re-accelerating, demand patterns evolving, and events like the World Cup looming large, this episode offers a grounded, data-backed roadmap for navigating what’s ahead — especially for operators who are thinking strategically rather than reactively.You don’t want to miss this episode!Key Takeaways for STR Hosts & OperatorsSupply has bottomed — and it’s coming back. After slowing sharply in 2025, supply is expected to re-accelerate in 2026, especially in resort and suburban markets.Occupancy may soften slightly before rebounding. Supply could outpace demand in the short term, leading to modest occupancy pressure before conditions rebalance in 2027.Pricing power remains limited but stable. ADR growth should improve modestly, though most existing listings will need to hold rates steady rather than push aggressive increases.International demand is an X-factor. The 2026 World Cup could drive record inbound travel — but policy and sentiment will play a major role in how big that impact is.Experienced operators have the advantage. The next wave of supply growth is likely driven by more professional, intentional investors — raising the bar for performance and operations.Sign up for AirDNA for FREE 👇https://bit.ly/413X3Ut—————Connect with Jamie on social mediaLinkedIn: https://www.linkedin.com/in/jamiehlane/ Twitter: https://twitter.com/Jamie_Lane—————Connect with Scott on social mediaLinkedIn: https://www.linkedin.com/in/sagescott—————Connect with AirDNA on social media:Instagram: https://instagram.com/airdna.coLinkedIn: https://www.linkedin.com/company/airdna/Twitter: https://twitter.com/airdnaTikTok: https://www.tiktok.com/@airdna.co—————Episode 162