Global Vacation Rental Market report from Global Insight Services is the single authoritative source of intelligence on vacation rental market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Vacation rental market was estimated to be $75bn in 2021 and is expected to grow at a CAGR of 5.1% over next ten years.
Key Trends
The vacation rental market has seen a number of key trends in recent years. One of the most notable is the rise of the sharing economy, which has led to a significant increase in the number of people using vacation rental platforms like Airbnb and HomeAway. This has in turn created a more competitive market, with vacation rental companies offering a wider range of services and amenities to guests.
Another key trend is the increasing use of technology by vacation rental companies. This has ranged from the use of online booking platforms to the development of mobile apps that allow guests to book and manage their stay. Vacation rental companies are also using data analytics to better understand customer preferences and to target marketing efforts.
Key Drivers
The vacation rental market has exploded in recent years due in large part to the sharing economy. The rise of platforms like Airbnb and HomeAway have made it easier than ever for people to list their properties and find renters. At the same time, these platforms have made it easier for travelers to find vacation rentals that fit their budget and preferences.
The vacation rental market is also being driven by a desire for more unique and authentic travel experiences. Travelers are increasingly interested in staying in local neighborhoods and getting a taste of the local culture. Vacation rentals often offer more space and amenities than hotel rooms, making them appealing to families and groups.
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Restraints & Challenges
The vacation rental market has become increasingly competitive in recent years, with new players and new technologies emerging constantly. At the same time, vacation rental owners and managers are under pressure to provide a better experience for their guests while also keeping costs down. Here are key challenges facing the vacation rental market:
- Increasing competition: With more and more vacation rental companies and platforms emerging, it is becoming increasingly difficult for vacation rental owners and managers to stand out from the crowd. They need to find ways to differentiate their properties and offerings in order to attract and retain guests.
- New technologies: New technologies are emerging all the time and vacation rental companies need to keep up in order to remain competitive. They need to adopt new technologies that will improve the guest experience, such as mobile apps and virtual reality, while also ensuring that their property management systems are up to date.
- Enhancing the guest experience: Vacation rental companies need to find ways to enhance the guest experience, as this is becoming increasingly important to guests. They need to provide amenities and services that guests want and need, and make sure their properties are well-maintained and comfortable.
Market Segments
By Accommodation Type
- Home
- Apartments
- Resort/Condominium
- Others
By Booking Mode
- Online
- Offline
Key Players
- Airbnb
- HomeAway
- VRBO
- Expedia
- Booking.com
- FlipKey
- HouseTrip
- Onefinestay
- Luxury Retreats
- Villas.com
- Casamundo
- TripAdvisor Vacation Rentals
- Owners Direct
- Holiday Lettings
- HomeToGo
- Wimdu
- Feels Like Home
- 9flats
- Yescapa
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