The year-over-year monthly change in the number of short-term rental bookings worldwide decreased suddenly in March 2020 to four percent, dropping even further the following month to -29 percent. This decline in short-term rental bookings was due to the impact of the coronavirus (COVID-19) pandemic on tourism worldwide. Three years later, in April 2023, that figure increased to 52 percent.

The year-over-year monthly change in the number of short-term rental bookings worldwide decreased across all regions during March and April 2020. The region with the largest drop in short term rental bookings in April 2020 was Europe, at -39 percent. The sharp decrease in hotel searches was due to the impact of the coronavirus (COVID-19) pandemic on international travel and the hotel industry.