Vacation rentals segment sees nearly 50 percent room nights sold boost in February – EyeWitness News

Posted: April 6, 2022 at 8:49 pm

NASSAU, BAHAMAS The short-term vacation rental market saw total room nights sold increase nearly 50 percent this past February compared to the same period in 2021.

According to the Central Bank, in its monthly economic and financial developments report, data provided by AirDNA for February revealed positive trends within the short term vacation rental market.

The report read: Total room nights sold increased to 98,389 compared to 50,906 in the comparative 2021 period. In particular, occupancy rates for both the entire place and hotel comparable listings rose to 55.2 percent and 50.7 percent, respectively, vis--vis 43.6 percent and 38.7 percent a year earlier. Price indicators strengthened year-over-year, as the average daily rate (ADR) for hotel comparable listings firmed by 15.1 percent to $181.36 and for entire place listings, by 8.3 percent to $486.90.

According to the regulator, monthly data suggested that tourism maintained its growth trajectory, although with continuing travel sector caution, amid lingering pandemic conditions.

Provisional data from the Ministry of Tourism (MOT) showed that total visitor arrivals by first port of entry advanced to 312,201 in January, from just 23,619 in the comparative 2021 period. Leading this development, air arrivals increased to 71,908 from 20,792 in the previous yearrestoring 55.4 percent of the passengers received in 2019, the report continued.

Sea traffic, also resumed at 240,293 vis--vis 2,827 visitors in the prior year.

According to the data, total arrivals to New Providence strengthened to 162,654 in January from 13,236 same period last year.

Underlying this outturn, the air and sea segments advanced to 53,629 and 109,025 passengers, respectively. Similarly, foreign arrivals to Grand Bahama rose to 9,768, from 1,052 a year earlier, with air and sea outcomes of 1,775 and 7,993, respectively. Likewise, traffic to the Family Islands recovered to 139,779 visitors, extending the volume of just 9,331 in the prior year, attributed to air and sea passenger intakes of 16,504 and 123,275, respectively.

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Vacation rentals segment sees nearly 50 percent room nights sold boost in February - EyeWitness News

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