6 Short-Term Rental Industry Highlights – Recap of The Here to Stay 2024 Event

We were thrilled to attend the Here to Stay 2024 event organised by the Australia and New Zealand Short Term Rental Association (ASTRA). Bringing together industry leaders, innovators, and dedicated professionals, this gathering offered a deep dive into the future of the short-term rental (STR) industry.

Below, we’re excited to share six key highlights from the event that inspired AuBnB and how these insights will shape the industry in the future.

1. Booming Australian STR Market

Compared to Europe’s mature STR sector, Australia’s market still has significant room to grow, presenting unique opportunities for property owners and investors. The country’s STR industry is booming, driven by an increasing number of travellers seeking distinctive and flexible accommodation. As more people choose STRs to experience Australia’s diverse landscapes and vibrant cities, the demand for these unique stays continues to climb, strengthening the STR market’s position within the tourism industry.

2. AI Tools Are Changing the Game

Many discussions have highlighted AI’s transformative impact on STR operations, from automating pricing to enhancing guest communication. AI tools are reshaping the industry by enabling hosts and property managers to respond faster to guest needs and adjust prices dynamically based on market trends, ultimately improving guest satisfaction and maximising revenue.

3. Navigating Regulatory Changes

Recent changes in regulations, like the Airbnb levy introduced in Victoria, impose a 7.5% tax on short-term rentals. This measure aims to address housing shortages and bring the STR market to community standards.

Staying informed on these shifts is crucial for compliance and proactive planning, as evolving regulations impact the market and may affect profitability.

4. Quality Control Enhances Guest Satisfaction and Loyalty

Another prominent theme was the importance of quality control in creating memorable guest experiences. Experts shared that careful management of property standards, design, and amenities can make a lasting impression on guests and build loyalty. Additionally, little things like furniture and the colour palette could be critical considerations when travellers decide on accommodation. For hosts looking to stand out, attention to detail in quality control remains key.

5. Comparing 2024 with Previous Years

The short-term rental industry experienced a surge in demand as travel rebounded post-pandemic in 2022. Though 2024 has seen a natural levelling off from that initial boom, the market remains strong as travellers continue to seek flexible and unique accommodation options. The trend toward STRs highlights a lasting interest in bespoke travel experiences across Australia.

6. Looking Ahead to 2025 and Beyond

Looking forward, the STR industry anticipates even more innovative approaches to service delivery and guest experience. Industry professionals are optimistic about integrating new tech solutions, such as enhanced booking platforms and virtual concierge services, to stay ahead of guest expectations.

About AUBnB

At AUBnB, we specialise in managing short-term rental properties across Victoria. Our services focus on maximising property occupancy, handling guest communications, and ensuring seamless stays to help owners achieve strong returns. Using advanced tools and local expertise, we provide end-to-end support for property owners to simplify hosting while delivering quality guest experiences. With our commitment to excellence, AuBnB enhances the short-term rental experience for both owners and guests throughout Victoria.