2024 US Lodging Trends: Short-Term Rentals and Cruise Drive Recovery

In 2024, US short-term rentals will add more incremental demand than hotels and cruises combined. Additionally, US-based cruises are set to make waves, punching well above their weight.

What you will learn:

This report digs into the trends reshaping demand across the full scope of lodging, highlighting the industry’s evolving dynamics.

• Accounting for just 3.1% of total lodging demand compared to hotels’ dominant 82.7%, cruises are expected to add 5.4 million sold cabin nights year-over-year in 2024—surpassing the 4.4 million room nights projected for hotels.
• In 2024, US short-term rentals—which account for the remaining 14.2% of US lodging demand—will add more incremental demand than hotels and cruises combined with a projected 15.6M sold listing nights year-over-year.
• US lodging demand fully recovered to 2019 levels in 2023 and is expected to expand to 2.9% ahead of 2019 levels in 2024. Hotel demand has yet to fully recover, but strong gains in short-term rental and cruise demand have made up the difference.