After a slower 2020, the Charleston space’s stock of resort rooms grew at a sooner clip final 12 months.
The area added greater than 500 new resort rooms in 2021, in line with an annual report of main tourism metrics tracked by the Office of Tourism Analysis on the College of Charleston. The space now has a listing of greater than 19,000 rooms obtainable for in a single day guests.
That development outpaced 2020, when 382 visitor rooms and suites hit the market, however was nonetheless effectively behind 2019 when greater than 900 had been opened in Charleston and the encompassing areas.
About 175 resort rooms had been added east of the Cooper, the faculty discovered.
The largest undertaking to open within the Charleston area’s seashore communities final 12 months was the 153-key Sweetgrass Inn at Wild Dunes, which made its debut in March 2021. The property additionally introduced 30,000 sq. ft of recent assembly area to the Isle of Palms resort.
On the peninsula, notable debuts in 2021 included The Saint on East Bay Street and The Loutrel on State Street.
The internet variety of resort rooms in West Ashley did not change, North Charleston added 118 items, and the entire quantity on the peninsula went up by a number of dozen, in line with the annual report, which additionally confirmed the rise in resort charges the area noticed in 2021.
Last 12 months, the common day by day charge in Charleston climbed to $167 from $123 — a rise that helped drive the general financial affect of tourism in Charleston previous $10 billion for the primary time in 2021, regardless of impacts from the coronavirus pandemic and total customer counts that also trailed these from earlier than the well being disaster.
Visitors spent a mean of $456 on lodging per particular person, per journey, the faculty discovered.
While resort items rose, the variety of short-term leases within the area went down final 12 months — to six,816 from 7,022.
Vacation house leases proceed to carry out effectively throughout South Carolina. At the top of 2021, nights offered in short-term leases statewide had been up about 30 % in comparison with pre-pandemic knowledge in 2019. Revenue per obtainable short-term rental unit was additionally up, by about 26 %.
But short-term rental stock can also be affected by native laws that may put limits on which houses might be operated as short-term leases and likewise can dictate what number of short-term leases are allowed inside a given municipality.
Mount Pleasant, for instance, voted final 12 months to cap permits at a agency quantity: 400. Previously the restrict was set at 1 % of residences, which, across the time that was authorized, was about 400. The new coverage ensures the entire will not exceed that, whilst extra houses are constructed.
The variety of short-term leases within the area has been happening yearly for the previous couple of years. The rely began at 7,610 in 2018, in line with the College of Charleston’s report, which means short-term rental stock has dropped by about 10 % since then.