STR Trends Tracker #1024

Author

Justin Beasley
November 15, 2024

Welcome to the NEW STR Trends Tracker! 

Get ready to dive into the Smoky Mountain STR market’s most eye-catching trends.

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People love spending money on the right property with the right amenities. In fact, they don’t just love it—they prefer it.

How much are we talking? Well, in 2024, visitors shelled out just under $1.5 billion—yep, that’s “billion” with a B—on lodging. Compare that to 2020, when lodging expenses were “just” $710 million. That’s more than double in just a few short years!

Now, let me share five standout stats from this month’s STR Trends Tracker:

  1. Lodging dollars hit an all-time high in 2024 at $1.5 billion.

  2. 64% of visitors crash at hotels or with friends and family.

  3. Luxury properties charge 40% more per night than the average, and people are glad to pay it.

  4. Despite a dip in occupancy rates, a 13% jump in nightly rates more than makes up for it.

  5. Visitors with tighter budgets lean toward hotels, while the 16% who choose cabins or condos are happy to splurge for the right location and amenities.

I could go on, but why spoil all the fun? Dive into the rest of the data and see for yourself.

Catch you next week!

Justin Beasley

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