Potential Renters are waiting too late

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Original Message:

Re: Potential Renters are waiting too late (by Robert C.):

I too see no activity in 2023 for high end Ritz in Caribbean platinum season. I mean no activity. Last year 2022 and the year before that and the year before that I was having my RENTALS obtained 3-4 months out from check in date and my rate last year was double what I’m asking now. Marriott CEO just reported November 7 that Ritz-Carlton brand saw third quarter revenue per available room in the US and Canada grow 4.4% from a year ago. Occupancy levels rose 1.3% and average daily rates improved 2.5%. He added that Marriott is experiencing strong holiday and 2024 booking trends. Marriott sees full-year revenue per available room rising 6% to 7.5%.

I personally think there’s too many of us trying to rent so the supply greatly exceeds demand. It was good while it lasted but doesn’t appear very attractive approach going forward for coming couple years - i.e. over supply; increasing significant inflation - middle class greatly affected on discretionary funds; recessionary economy; war; moderate travel safety concerns all have effect to varying degrees. Hope I am wrong but can’t ignore my thoughts and what I am seeing.