How the U.S. Tourism Slump Is Hitting Short-Term Rentals: Exclusive

The slowdown in international tourism to the United States has been especially hard on vacation rentals, according to AirDNA data shared exclusively with Skift.

First-quarter data on short-term rental demand largely mirrors the inbound tourism slowdown tracked across the U.S. since early 2025, with the analytics firm tracking a decline from some of the largest sources of tourists.   

But AirDNA’s data shows even sharper declines. International short-term rental demand was down 4.7% in January, for instance, compared with a 3.5% decline in international visitation.

The decline in short-term rental demand from abroad suggests leisure travel — the backbone of short-term rental bookings — is taking a significant hit from international