Short-term rentals of larger units weathered the COVID-19 pandemic better than hotels and smaller short-term rental units, according to a joint analysis by STR and AirDNA.
With an occupancy rate of 61.4 percent, large short-term rentals were doing well during quarantine, while short-term rentals came in at 58.2 percent occupancy. Hotels fared the worst, with only 39.2 percent occupancy.
US hotel gross operating profit declined 105.4 percent in June, according to STR's monthly P&L data. However, this showed improvement from April's low numbers of a decline of 116.9 percent and a decline of 110.1 percent in May.
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