Monthly analysis & insight on policy issues affecting the travel technology industry

Although the results of the 2020 elections are not fully resolved, we do know that the makeup of the 117th Congress will be one of the most evenly divided in American history. This, coupled with a transition from one administration to another and in the midst of a global pandemic, presents the travel and tourism industry with seemingly endless challenges. But there may indeed be reasons for optimism. 
 
Memories of bitter fights during a campaign tend to fade once a new Congress is sworn in, and a new administration is often focused on major successes in the crucial first 100 days. Nearly everyone agrees that additional stimulus is needed for the ever-increasing number of businesses and jobs that have been lost during the COVID-19 pandemic, particularly the millions of people who work – or once worked – in the travel and tourism industry. The impasse in Congress has been on spending levels and scope, not whether relief is necessary. To that end, Travel Tech continues to work with countless stakeholders across every industry to urge members of Congress to resolve these differences and pass a pandemic relief package now. 

VIDEO: Travelport CEO Greg Webb on recovery and reality of NDC
Kevin May, PhocusWire

Coronavirus testing before flying could become the norm as airlines try to boost confidence and woo travelers
Lori Aratani and Ian Duncan, The Washington Post

What Airbnb is doing to crack down on parties at vacation rentals
John Choi, AZCentral 

Commentary and Analysis by Travel Tech President Steve Shur

Short-Term Rentals Generate Billions of Dollars in Economic Support for Small Businesses
This upcoming Small Business Saturday on November 28, Travel Tech celebrates the benefits short-term rentals provide to small businesses and local communities. As small business owners themselves, short-term rental owners, managers and hosts are able to generate meaningful income for their families during this difficult time for our economy. Short-term rentals also provide revenue for cleaning companies after stays and for landscapers and contractors at the rental properties. 

Short-term rentals also benefit the communities and neighborhoods in which they operate by generating massive tax dollars and spending. With 74% of short-term rental properties situated outside of the main hotel district, guests spend 42% of their money in the neighborhoods where they are staying, benefitting local stores, restaurants, bars, and attractions. 

For more on the benefits of short-term rentals on communities and small businesses, go to our website.

Economic Impact of Short-Term Vacation Rentals in Santa Fe, New Mexico

Short-term vacation rentals (STVRs) are a critical source of revenue for hosts and small businesses throughout the world. This is evidenced in a recent study of the economic effects of STVRs in Santa Fe, NM released by Expedia Group and the Santa Fe Short Term Rental Alliance and prepared by Moss Adams LLP.  

The study found that STVRs generated $35.5 million in owner revenue in 2019 and $23.7 million in 2018 - millions of dollars that helped residents provide for their families.

The remaining figures are just as impressive: 

• STVR-related direct spending totaled $162.9 million in 2019 and $108.7 million in 2018.
• STVR-related spending totaled $228 million in 2019 and $152.3 million in 2018. 
• Selected STVR Estimated Direct Impacts Food & Beverage Spending totaled $37.1 million in 2019 and $24.8 million in 2018. 
• Retail spending totaled $27.5 million 2019, and $18.4 million in 2018. 

In addition to the revenue provided to Santa Fe residents and businesses, the city also saw a tremendous financial benefit through taxes. The Lodgers’ Tax & Gross Receipts Tax totaled $13.4 million in 2019 and $9 million in 2018.

These figures represent a community uplifted in New Mexico by STVRs and an industry that supports hard working people worldwide.