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.

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

What you will learn:

• 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.