Updated : Feb 9, 2025
Key Takeaways
The following data for Florida, USA, from PriceLabs’ Short-term Rental Worldwide Index, shows steady growth from January 2021 through November 2023 regarding ADR, RevPAR, Occupancy rates, and Average Bookings. The insights derived from this data could aid in decision-making associated with price-setting, promotion strategies, or prioritization of resource allocation in the hospitality industry in Florida.
- The ADR peaked at $289 USD in July 2022, while the highest RevPAR was recorded at $184 USD in March 2023.
- The occupancy rate also mirrored this fluctuation, peaking at 67% in July 2021 and hitting a low of 38% in September 2023.
- The count of active listings showed a gradual increase over this period from 133,976 in January 2021 to 230,055 in November 2023, reflecting the growing accommodation supply.
- However, the average bookings showed a declining trend from 4.9 in March 2021 to 2.8 in November 2023, suggesting a possible demand-side challenge.
ADR Summary
The average daily rates (ADR) for listed properties in Florida, United States, showed a fluctuation over the past years. Starting from January 2021, the ADR was $232 USD, but it increased to reach $266 USD in March 2021. However, it slightly dropped in April 2021, reaching $255 USD, but then diminished in the following months, hitting a low point in September and October 2021 at $216 USD and $215 USD, respectively. After this point, the ADR started to increase again, peaking at $282 USD in March 2022 and then fluctuating, with regular peaks and troughs naturally. These peaks are most noticeable in the month of March during each of the observed years, hinting at a seasonal trend. After reaching another peak at $289 USD in July 2022, it decreased over a few months, hitting $218 USD in September 2022. There was also a significant increase in December each year, followed by a decrease in January. Towards the end of the observed period in November 2023, the ADR stood at $237 USD. From these observations, the overall trend in ADR suggests a periodic increase during March and December every year and a decrease that follows in the subsequent months.
RevPAR Summary
The Revenue per Available Room (RevPAR) in USD for the state of Florida in the United States demonstrated an overall increasing trend between January 2021 and November 2023.
Starting from $109 USD in January 2021, it peaked at $175 USD in July 2021. A subsequent decrease was observed, with RevPAR reaching $92 USD in September 2021. It increased again to $134 USD in December 2021, followed by a fluctuation in the subsequent months, reaching $175 USD again in March 2022, and finally to $184 USD in March 2023, which was the highest point during this period.
Seasonal trends can be observed from the data. The RevPAR tended to increase in the early months of the year, peaking around March-April, then decreased towards the middle of the year with some recovery towards the end of the year. This pattern repeats annually throughout the observed period.
Please note that this summary reflects the past trend and does not offer any projections or predictions for the future.
Read here: How to Calculate RevPAR.
Occupancy Rate Summary
From January 2021 to November 2023 in Florida, United States, a cyclical trend in occupancy rates is observed. The year typically begins with occupancy in the 40-50% range, increasing gradually to reach a peak around mid-year (June/July). The highest occupancy rate during this period was recorded in July 2021 at 67%.
Following this mid-year peak, there is a progressive decrease in occupancy rates as the year progresses, dipping to its lowest by September each year. The lowest recorded occupancy was in September 2023, at 38%.
This pattern repeats annually over the period analyzed, indicating a seasonal trend that aligns with the summer holiday period in the United States. During the summer months (June – August), occupancy rates rise, reflecting an increased demand for accommodation. Conversely, the fall months (September – November) have the lowest occupancy rates, suggesting a decrease in travel during this period.
Thus, there seems to be a recurring seasonal pattern in occupancy rates in the Florida region of the United States.
Read here: How to Calculate Occupancy Rate.
Avg. Bookings Summary
The data provided reflects the average bookings for Florida, United States, from January 2021 to November 2023. An analysis of the trends in the average bookings reveals that there appears to be a cyclical/seasonal pattern in the data.
The beginning of the year in January 2021 started with an average booking of 3.2. It reached its peak in March 2021, with 4.9. However, following the peak, there was a decline in average bookings to 2.4 by December 2021.
In 2022, the pattern repeated itself. The average bookings increased in the initial months from 3.3 in January to peak at 3.3 in March but gradually dropped again towards the end of the year to 2.1 in December.
The same pattern was observed in 2023, where the average bookings grew from 3 in January to 3.1 in March, then fell to 2.8 in November.
In summary, the average bookings seemed to be following a biannual cycle in Florida, where averages tend to increase in the beginning (around March) and then decrease as the year progresses (around the end of the year). This indicates a certain seasonality in the booking pattern.
Count of Active Listings Summary
The count of active listings in Florida, United States, based on the provided data, shows a general upward trend from January 2021 through November 2023. In January 2021, there were approximately 133,976 active listings, which increased gradually till February 2021 with 151,922 listings. A slight dip was noted in March 2021, but from April 2021 onwards, the active listings started increasing more consistently, reaching 166,358 listings by October 2021. From November 2021 to February 2022, the count fell slightly before rising steadily yet again, reaching a peak of 217,378 in December 2022. After a negligible decrease in January 2023, the upward trend continued, reaching the highest count in the given dataset at 244,991 listings in September 2023. Post this peak, a downward trend is observed till November 2023. Hence, most of the period witnessed growth in active listings, barring a few months of fluctuation.
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About Short-term Rental Index
The World STR (Short-term Rental) Index by PriceLabs is a free tool for tracking short-term rental market performance worldwide. It offers data from Airbnb markets worldwide, refreshed monthly. You can access free insights on which locations are gaining or losing popularity. Key features include:
- Compare: Compare year-over-year metrics like active listings, occupancy rates, RevPAR, and ADR.
- Trend: Visualize how metrics have changed over the past years.
- Pacing: Compare upcoming year metrics to the previous year for occupancy, ADR, and RevPAR.
