Steady growth is observed in the number of accommodations in 2024 compared to 2023. However, according to INSETE data, this trend is slowing in July, which may indicate a peak in demand.
In July 2024, accommodation reached 232k, an increase of 20k compared to July 2023.
ACCOMODATION
Analysis of the data on the number of short-term rental beds between 2023 and 2024 reveals a significant increase in the first half of 2024. From January to June, the number of beds increased steadily, reaching levels in June that were +85k beds higher than in 2023.
In July 2024, this growth slowed down, with the total number of beds offered reaching more than 1 million, an increase of +81 thousand beds compared to July 2023. This development suggests that demand for short-term rentals remained strong throughout the first half of 2024, with a peak in July.The analysis of accommodation occupancy for Q1 2024 shows stability compared to Q1 2023 despite an increase in accommodation and bed supply.
This suggests an increase in demand alongside supply reflected in Q2 2024, where higher accommodation occupancy is recorded compared to Q2 2023.
In January in particular, occupancy was maintained at 12%, repeating the same performance as the same month last year. In February, occupancy declined to 10% (vs. 13%), while in March, occupancy was 16% (vs. 15%).
In April, occupancy was 23% (vs. 24%), while in May it was 30% (vs. 26%). In June, occupancy increased to 40% vs. 38% in June 2023.
In July, occupancy was maintained at 52%, repeating the same performance as the same month last year.
AVERAGE LENGHT
The average length of stay in terms of overnight stays in January-July 2024, compared to the same period in 2023, increased only in the first two months while the rest of the months recorded a decrease. In particular, in January 2024, the average length of stay was 3.5 nights (+6.8%); in February it was 3.7 nights (+32.6%).
A downward trend started in March with 3.5 nights in March (-1.5%), 3.8 nights in April, 3.5 nights in May (-10.0%) and in June the decrease was -5.0% with 3.8 nights. Finally, in July the average length of stay was 4.2 nights, a decrease of -2.3%.
