July Fourth Short-Term Rental Bookings Surge on the U.S. Coasts

Skift Take

Today’s podcast looks at July Fourth travel, Tourism Portland CEO’s record, and inflation’s impact on travel.

Good morning from Skift. It’s Tuesday, June 25, 2024, and here’s what you need to know about the business of travel today. 

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Episode Notes

Travelers heading to New York City for the Fourth of July weekend aren’t booking as many short-term rentals as they did last year. Bookings are instead surging at destinations along the Atlantic coast, writes Global Tourism Reporter Dawit Habtemariam. 

AirDNA revealed that New York City is no longer a top 10 market for the holiday and has been replaced by coastal destinations in Delaware and Maryland. Short-term rental bookings at coastal destinations for this Fourth of July weekend are up more than 7% from last year. Bookings for urban destinations saw a 10% drop from last year’s holiday weekend, which AirDNA attributes to a decrease in supply.

Next, Jeff Miller, the longtime CEO and president of Travel Portland, will retire in December, writes Global Tourism Reporter Dawit Habtemariam. 

Miller, who has led the organization for 19 years, has been an outspoken advocate for the city against what he’s seen as negative news coverage of Portland. He said widespread reports about civil unrest in the city has damaged Portland’s reputation among suburban residents. 

Miller added Portland has made progress in rebooking conventions that had pulled out after the unrest, but still has a long way to go. 

Finally, the post-pandemic tourism surge has helped make some services more expensive across the world. Associate Editor Rashaad Jorden turns to Ask Skift, our artificial intelligence chatbot, for more information about the link between the tourism boom and inflation. 

Jordan cites Iceland and Greece as two nations where inflation has been tied to an increase in visitor numbers. A 10% jump in visitors to Greece this year could cause the country’s property prices to increase close to 4%. In addition, inflation has been linked to tourism bumps from recent large concert tours, especially those of Taylor Swift and Beyonce. 

Producer/Presenter: Jose Marmolejos

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