Year-over-Year (YoY) Growth

Year-over-Year (YoY) growth measures the percentage change in a performance metric — revenue, ADR, occupancy, or RevPAR — compared to the identical period in the prior year. Because it compares like-for-like calendar windows, YoY is the only growth metric that automatically cancels out seasonal patterns, making it the definitive lens for separating genuine improvement from calendar noise.

Key Takeaways

• YoY Growth (%) = ((Current Period Value − Prior Year Period Value) ÷ Prior Year Period Value) × 100
• Eliminates seasonal distortion by comparing the same calendar period across two years
• Calculate YoY for every core metric: gross revenue, ADR, occupancy, and RevPAR
• Mature listings typically deliver 5–15% annual revenue growth; new listings often see 20–40%+ while ramping reviews
• Benchmarking your YoY against the market average reveals whether you are gaining or losing competitive share

How to Calculate YoY Growth

The formula is the same regardless of which metric you are measuring:

YoY Growth (%) = ((Current Period Value − Prior Year Period Value) ÷ Prior Year Period Value) × 100

Apply it to a full month, quarter, or year — consistency matters more than the window length.

Example — January 2025 vs January 2026:

Metric	Jan 2025	Jan 2026	YoY Growth
Gross Revenue	$4,800	$5,500	+14.6%
ADR	$168	$182	+8.3%
Occupancy Rate	58%	62%	+6.9%
RevPAR	$97.44	$112.84	+15.8%

Revenue grew 14.6% YoY, driven by both a higher ADR (+8.3%) and improved occupancy (+6.9%). RevPAR's 15.8% growth captures the compounding effect of both levers working together — which is exactly why RevPAR is the preferred headline metric for YoY comparisons.

Annual STR Revenue Across Key Markets

Understanding YoY growth requires an anchor: where does the revenue base actually sit across different US markets? In AirROI's analysis of more than 69,000 active listings across six markets, median annual STR revenue spans from $27,540 in Denver to $53,472 in San Diego — a gap that sets the baseline from which YoY trends are measured.

In AirROI's analysis of 69,356 active listings across San Diego, Gatlinburg, Scottsdale, Nashville, Miami, and Denver, median annual revenue ranges from $27,540 (Denver) to $53,472 (San Diego). A 10% YoY revenue gain means very different dollar amounts — and very different investment outcomes — depending on which baseline you start from.

A 10% YoY revenue gain in San Diego ($5,347) outpaces a 15% gain in Denver ($4,131) in absolute dollars. Percentage growth without the revenue baseline is an incomplete story.

YoY Growth Benchmarks by Listing Stage

Listing Stage	Typical YoY Revenue Growth	What It Signals
New listing (Year 1–2)	+20% to +40%	Ramping reviews, search ranking, pricing calibration
Maturing listing (Year 2–4)	+10% to +20%	Operational optimization, repeat guest base building
Mature listing (Year 4+)	+5% to +15%	Incremental gains, tracking market growth
Stagnant listing	0% to +5%	Pricing drift, aging photos, amenity gap vs. new supply
Declining listing	−5% or worse	Active intervention needed: renovation, repositioning, repricing
Market downturn	−10% to −20%	External demand shock; focus shifts to outperforming the market

Why YoY Growth Matters for STR Operators

Seasonal normalization. A $3,000 January looks weak against December's $7,000, but if last January was $2,500, you grew 20%. YoY strips away the noise that makes month-over-month comparisons nearly useless in seasonal vacation markets.

Strategy validation. When you raise rates, update photos, or add a hot tub, YoY revenue growth in the months after the change provides the cleanest signal that the investment paid off — controlling for seasonality automatically.

Competitive share tracking. When combined with market benchmarking, your YoY growth relative to the market average reveals whether you are gaining or ceding position. A listing growing 8% in a market growing 12% is losing share even though the absolute number looks positive.

Investor-grade reporting. Lenders and potential buyers treat positive YoY revenue and RevPAR growth as evidence of operational quality and demand resilience. Consistent YoY growth directly supports higher valuations. According to AirDNA's 2025 State of STR report, markets with sustained 5%+ YoY RevPAR growth commanded acquisition premiums of 8–12% over comparable flat-growth markets.

Forward-looking signals. Pair YoY actuals with pacing data to see whether bookings for the same future dates are running ahead or behind last year. Pacing is essentially YoY growth applied to your forward book — catching a gap early leaves time for rate adjustments before the stay window closes. The last-minute booking window is compressing, which makes early pacing signals more valuable than ever.

How to Build a YoY Tracking System

1. Extract monthly data — pull revenue, ADR, occupancy, and RevPAR for every completed month going back at least 24 months from your channel manager or Airbnb dashboard export
2. Build a side-by-side table — for each month, place the current-year figure next to the prior-year figure and calculate the percentage change
3. Add a market benchmark column — use AirROI's market-level data for the same months; a single column showing market YoY growth turns your self-comparison into a competitive analysis
4. Segment by driver — when revenue YoY diverges from ADR and occupancy trends, decompose the cause: ADR improvement is pricing power, occupancy improvement is demand capture, and both moving together compounds into strong RevPAR growth
5. Flag external distortions — major events, new regulations, or a surge in local supply can inflate or deflate a single year's comparison; note these in your tracking sheet so you don't misread a one-time spike as a trend

The STR investment analysis guide covers how to structure YoY tracking alongside cap rate, NOI, and cash-on-cash return for a complete performance picture.