Vacation rental homes are typically privately owned vacation properties, with the exception of farms and co-located properties. Clients rent the property for a specified amount of time, sometimes for a month, however, most vacation rentals are rented for a week or more. Vacation rentals can be either fully-furnished or partially-furnished. Regardless of whether consumers plan to rent the property out for a month or a year, there are many factors to consider when choosing a vacation rental.
A vacation rental property must provide basic living accommodations, such as a bed, kitchen, and bathroom. It must also be used for personal purposes for at least 14 days. This is different than a short-term rental, which is typically less than a month long. It is also important to know that vacation homes can be rented for shorter periods of time.
The growth of global vacation rental market is spurred by various factors, including improved infrastructure. The number of millennials has also contributed to the industry's development. Moreover, social media and internet platforms are helping promote tourist destinations and hotels. Furthermore, the growing economy of sharing economy and the influence of the millennial generation are some other factors fostering the growth of the vacation rental market.
The increase in demand for vacation rentals has created opportunities for entrepreneurs in this field. Moreover, newer trends like short-term rentals and home-sharing platforms are also gaining popularity and benefiting the vacation rental market. However, factors such as political conflicts and terrorism, and declined disposable income among consumers are likely to obstruct growth of the global vacation rental market over the forecast period.
Key features of the study:
- This report provides in-depth analysis of the global vacation rental market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022-2030), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global vacation rental market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include 9flats.com Pte Ltd., Expedia Group Inc., NOVASOL A/S, Booking Holdings Inc., MakeMyTrip Pvt. Ltd., Wyndham Destinations Inc., Tripadvisor Inc., Airbnb, Hotelplan Management AG, and Oravel Stays Pvt. Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global vacation rental market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global vacation rental market
- Global Vacation Rental Market, By Accommodation Type:
- Global Vacation Rental Market, By Booking Type:
- Global Vacation Rental Market, By Region:
- North America
- Central & South America
- Middle East & Africa
- Company Profiles:
- Expedia Group Inc.
- Booking Holdings Inc.
- Wyndham Destinations Inc.
- Oravel Stays Pvt. Ltd.
- Hotelplan Management AG
- Tripadvisor Inc.
- MakeMyTrip Pvt. Ltd.
- NOVASOL A/S
- 9flats.com Pte Ltd.