Vacation Rental Market is Expected to Reach the Valuation of USD 123.81 billion by 2030, Size, Share, Growth, Trends, Demand and Opportunity Analysis
“ Vacation Rental Market research report acts as a backbone for the growth of any business, be it a small size or large size. Unsurpassed and well established tools and techniques such as SWOT analysis and Porter’s Five Forces analysis have been used in the whole report for the purpose of forecasting, analysis and estimations. Competitive analysis has been carried out in this report for the major players in the market, which supports business take better moves for enhancing their product and sales. The market insights and analysis covered in the winning Vacation Rental Market research report are based upon SWOT analysis on which businesses can believe assertively.
An all-inclusive Vacation Rental Market analysis report presents Vacation Rental Market industry with abundant insights and business solutions that will lend a hand to stay ahead of the competition. To provide with the best results, this wide ranging and world class business document has been produced by using integrated approaches and latest technology. While generating this large scale market report, customer satisfaction is always kept on the utmost priority which makes clients rely confidently on this report. Vital market insights can be achieved with the comprehensive market research report which considers all the parameters of current and future market.
Vacation Rental Market Analysis and Size
As per the analysis of Copyrise, around 200,000 million global tourists are millennials and they expend about USD 180 billion on travel every year. Moreover, it has been witnessed that while traveling with family, consumers consider several factors for choosing a vacation rental for amenities and comfort. The “home segment” is expected to be the fastest growing accommodation segment due to the high popularity of homes among travellers because of its safety, space availability and amenities.
Data Bridge Market Research analyses that the vacation rental market was valued at USD 78.86 billion in 2022 and is expected to reach USD 123.81 billion by 2030, registering a CAGR of 5.80% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
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Market Definition
A vacation rental is temporarily renting out a furnished house, apartment or professionally managed resort-condominium complex to travellers and tourists. Vacation rental is an alternative to a hotel. The term vacation rental is mostly used in the US. Other terms used are holiday homes, self-catering rentals, holiday lets, cottage holidays and gites
Some of the major players operating in the vacation rental market are:
- 9flats (India)
- Airbnb, Inc. (U.S.)
- Booking (Netherlands)
- Expedia, Inc. (U.S.)
- MTCH AG (U.K.)
- MAKEMYTRIP PVT. LTD. (India)
- NOVASOL A/S (Denmark)
- OYO Hotels & Homes (India)
- TripAdvisor LLC (U.S.)
- Wyndham Destinations (U.S.)
- Trivago (Germany)
- Agoda Company Pte. Ltd (India)
- Yatra Online Private Limited (India)
- Hotwire, Inc. (U.S.)
- HotelsCombined (Australia)
- KAYAK (U.S.)
Global Vacation Rental Market Dynamics
Drivers
- Increasing inclination towards vacation rental property
Travelers are more inclined towards the vacation rental property in the market over hotels due to the comfort, more privacy, low cost, and pet-friendly nature of the accommodation. Low cost compared to hotel accommodation with comparable amenities drives consumers’ inclination towards vacation rental property. For instance, according to the survey of Turnkey Vacation in 2019, 64% of travellers prefer staying in vacation rentals to hotels.
- Increasing trend of transformational travel
The growing trend of transformational travel surrounding wellness trips to restore balance and transform the spirit, mind and body is anticipated to drive the market growth during the forecast period. According to a blog of Hospitality Net, usual holidays such as sand, sun, sea, skiing, sightseeing, and shopping are likely to be high in demand. Furthermore, a higher preference for domestic travel than international travel is expected to increase the demand for domestic vacation rental business all over the globe.
Opportunities
- Increasing awareness regarding services and offerings
The influence of the internet and social media is growing consumer awareness regarding services and offerings. Major market players are providing numerous services, amenities and exotic locations to gain market share. These offering by major market players services are dedicatedly to female travellers. For instance, Golightly was launched in January 2020. This is a vacation rental platform which has managed by women and only available for female visitors and also allows men. The company owns more than 350 properties all over the globe.
- Increasing availability of vacation rentals
Growing supply increases the demand and availability of vacation rentals due to low costs as compared to hotels. Stratos Jet Charters, Inc. report shows approximately 2.9 million hosts on Airbnb globally, and over 14,000 hosts are among the new additions each month in 2021. Furthermore, Airbnb operates in about 220 countries, with approx., 100,000 cities with active Airbnb listing in 2021.Thus, the low cost of vacation rentals compared to hotels will create new and ample opportunities for market growth.
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The vacation rental market is segmented on the basis of accommodation, booking mode, location type, end user and price point. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Accommodation
- Home
- Apartments
- Resort/Condominium
- Others
Booking Mode
- Online
- Offline
Location Type
- Resort Area
- Rural Area
- Small Town
- Others
End User
- Gen Z
- Millennials
- Gen X
- Boomers
Price Point
- Economic
- Mid-Range
- Luxury
Regions Covered in the Global Vacation Rental Market Report 2023:
? The Middle East and Africa (GCC Countries and Egypt)
? North America (the United States, Mexico, and Canada)
? South America (Brazil etc.)
? Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
? Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
The key questions answered in this Vacation Rental Market Report:
- What will be the Vacation Rental Market Size and Growth Rate in the forecast year?
- What are the Key Factors driving Vacation Rental Market?
- What are the Risks and Challenges in front of the Vacation Rental Market?
- Who are the Key Vendors in Vacation Rental Market?
- What are the Trending Factors influencing the Vacation Rental Market shares?
- What are the Key Outcomes of Porter’s five forces model?
- Which are the Global Opportunities for Expanding the Vacation Rental Market?
Table of Contents
Global Vacation Rental Market Research Report 2023 – 2029
Chapter 1 Vacation Rental Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Vacation Rental Market Forecast
Download the Complete Table of Contents @ https://www.databridgemarketresearch.com/toc/?dbmr=global-vacation-rental-market
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