Two growing sectors of the lodging industry are short and long-term rental properties. Thanks to the advancement of technology and the internet, websites like Airbnb and Zillow have made it much easier for ordinary people with no industry experience to break into the field and purchase rental properties. The big question for anyone looking to break into this industry is whether to go with a short-term or long-term rental. Long-term rental properties are usually seen as more stable and predictable businesses, while short-term properties have higher earnings upside. Both types have their own advantages, but the decisions will ultimately come down to each individual and their own unique goals.
When the first economy hotels opened years ago, they catered to people whose top priority was price not comfort.