As you may have suspected, occupancy and rates for the year have fallen behind what we experienced last year. In 2022, we were just beginning to come back to earth from the post-pandemic boom in short-term rental demand here on the Emerald Coast—a trend that continued into 2023. The diminished demand we’ve experienced, of course, is all part of a larger trend in domestic travel.

The same cannot be said of Europe. I wanted to share some data on what is going on there, as it has had a significant impact on travel demand here in the U.S. generally and here on the Emerald Coast specifically. Data provided via Skift, a major travel industry news site, helps to paint the picture.