PUBLISHER: Market Research Future | PRODUCT CODE: 1727723
PUBLISHER: Market Research Future | PRODUCT CODE: 1727723
Report Information on India Vacation Rentals Market Research by Property Type (Individual House, Apartments (incl. Serviced Apartments), Cottages and resorts, Villas, Boutique Hotels, and Others), by Type (Short-term, and Medium-term), By Age Group (Gen Alpha, Gen Z, Millennials, Gen X, and Baby Boomers), by pricing (Economy, Mid-Range, and Premium), by End user (Individual, Group, and Business) Forecast to 2032
The market for vacation rentals in India is anticipated to increase significantly over the study period, with a compound annual growth rate (CAGR) of 19.18%. By the conclusion of the projection period (2023-2032), the market is anticipated to have grown from its 2022 valuation of USD 2,042.38 million to USD 11,774.99 million.
Due to a growing middle class with discretionary means, shifting travel habits, and rising internet penetration, the Indian vacation rental business has seen tremendous expansion and change in recent years. An extensive summary of the present situation of the Indian vacation rental sector is given in this executive summary. Travelers are increasingly choosing alternative lodging options over conventional hotels, causing a paradigm shift in the vacation rental business in India. The desire for distinctive and customized experiences, affordability, and the convenience provided by vacation rentals are some of the reasons for this change. The market is distinguished by a wide variety of products, such as boutique properties, villas, flats, and homestays. In addition, a number of major companies, including both domestic startups and well-known Indian platforms, control the majority of the Indian vacation rental market. The industry leaders link passengers with a wide range of lodging options by utilizing their vast networks and technologically advanced platforms. Players in the fiercely competitive market are always coming up with new ways to improve user experience and take a bigger chunk of the expanding demand. Additionally, the rise of the work-from-anywhere culture and the expanding trend of experiential travel have greatly increased demand for holiday rentals. Tourists want engaging experiences that capture the local way of life and culture, not just a place to stay. Additionally, vacation rentals have become more popular as a safer and more remote lodging choice due to the COVID-19 outbreak, making them an alluring substitute for overcrowded hotels.
Segmenting the Market
Individual homes, apartments (including serviced apartments), cottages and resorts, villas, boutique hotels, and others are the different property types that make up the market.
The market has been separated into short-term and medium-term segments based on kind.
The market has been segmented by age group, including Baby Boomers, Gen X, Gen Z, Millennials, and Gen Alpha.
The market has been separated into two segments based on gender: men and women.
The market has been separated into individual, group, and business segments based on the end user.
It is divided into three price categories: economy, mid-range, and premium.
This section is separated into online and offline categories based on the mode of booking.
India's vacation rental market is divided into four regions: North, South, East, and West.
MakeMyTrip Limited, Booking Holdings, Oravel Stays Limited, Yatra Online, Inc., Expedia Group, Inc., Tripadvisor LLC, StayVista, Homestay.Com, SaffronStays, Zostel, GuestHouse, Nivalink, Holidify Travels Pvt Ltd., Treebo.com, and MyIndianStay are the major competitors of Airbnb Inc. in the Indian vacation rental market.
LAST 10 YEARS 63
RENTALS MARKET 65