Prices Soar For Hotels And Vacation Rentals

Summer is officially here, and people want to get out of their house into someone else's after COVID quarantines. 

Vacation rentals are hot right now, and companies like Airbnb and VRBO are cashing in. Hotels are getting a piece of the pie as well. 

According to USA Today, demand and prices for destinations are back at 2019 levels. 

  • A report from April said average nightly hotel room rates are at $110.34 nationwide. That's still lower than 2019 at the same time but up 51 percent from last year. 
  • The average short-term rental daily rate is up to $244.42. That's 21 percent more than 2019. 
  • One analyst said, "If you haven't booked your summer vacation and you don't want to spend an arm and a leg, it might be too late.”

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