Vacation Rental Market Scope
Vacation rentals are alternate lodging options including short-term rental apartments, farm stays, private homes, cabins, beach houses, villas, chalets, and cottages. These lodging units are offered on a nightly, weekly, or a monthly basis although the dominant practice in the market is renting it out weekly. They are also commonly referred to as tourist rentals, holiday lettings, bed and breakfast, homestays, and gites, among others. The essential attribute committed to a vacation rental is that it offers realistic travel experience as they are usually located within the community and offer the opportunity to take in the local culture and flair. The trends and patterns in the market have changed over time, and vacation rentals are increasingly becoming a part of the global temporary accommodation market.
According to AMA, the Global Vacation Rental market is expected to see growth rate of 7.0%
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Vacation Rental market throughout the predicted period.
9flats (Singapore), Airbnb (United States), Booking Holdings (United States), Expedia (United States), TripAdvisor (United States), Wyndham Destinations (United States), World Travel Holdings (United States), Slatern, Inc. (United States), Rentalo.com, Inc. (United States) and Villas International (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are InvitedHome Management LLC (United States) and Villas of Distinction (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Vacation Rental market and Region with country level break-up.
On the basis of geography, the market of Vacation Rental has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
Recently, Expedia Group, Inc. has announced the acquisitions of Pillow, a software solution that will support building owners and managers empower their long-term residents to rent their residences. ApartmentJet, a software solution enabling the rental of guest suites in multifamily communities.
Local regulations that were in place by June 1, 2011, are grandfathered in and can override the state restrictions. The result is a patchwork of different rules for vacation rentals in different communities throughout the state. As the local governments can regulate short-term rentals in some ways, but state law prevents them from banning short-term vacation rentals or regulating how often properties can be rented out or how long guests must stay.
- Instant bookings
- Adoption of Effective Promotional Strategies
- A proliferation of Vacation Rental Business Services
- Growing Tourism Industry
- Increasing Popularity of Short-Term Rental Properties
- The Rising Disposable Income
- Strategic Partnerships
- Increase in the Number of Domestic and International Travelers
- The Growing Tourism Industry in Europe & America
- Risks Associated With Fraudulent Vacation Rental Houses, Apartments, and Homestays
- Low Conversion Rate of Lead to Transaction
Key Target AudienceVacation Rental Service Providers, Vacation Rental Traders, Vacation Rental Investors, Regulatory & Government Bodies and Vacation Rental Management Associations