In this week's episode, Jamie sits down with Bram Gallagher, a fellow economist at AirDNA. Together, they unpack September's U.S. market data and share a pulse check on the industry as we navigate the year's final quarter.
After August's industry-wide dips, September brought welcome surprises. Demand rose to 12.2%, and revenue increased to 15.1%, signaling that last month's downturn was more of a blip than a trend. However, we've now seen 19 months of continuous decline in occupancy, although recent figures suggest we're on the mend—moving from -4.2% to -1.2% compared to 2019 levels. ADRs are also bouncing back, with a 2.6% upswing.
Jamie and Bram then set their focus on pivotal economic indicators, providing a rich context to understand the market’s trajectory. A robust job report keeps unemployment stable at 3.8%, which could prompt the FED to reconsider interest rates. Geopolitical tensions in the Middle East could exert pressure on energy prices, possibly leading to inflation. On a brighter note, as the U.S. dollar eases, we're witnessing a rebound in foreign travel—now accounting for 7.4% of total exports, up from 6.5% earlier this year.
Jamie and Bram also shed light on upcoming indicators like the CPI report and what they mean for future occupancy rates.
You won't want to miss this episode!
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September US Market Review:
https://www.airdna.co/resources/blog
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Episode 53