Vacation Rental Market
The vacation rental market is estimated to be valued at US$ 75.05 Bn in 2024 and is expected to reach US$ 109.43 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.
The vacation rental market has seen significant growth over the past few years. As remote working becomes more common, many people are choosing to work from various vacation destinations rather than being confined to one location. This has increased the demand for short-term and long-term vacation rental properties. Additionally, the sharing economy model adopted by major platforms like Airbnb have made it much easier for property owners to list and rent their spaces, driving the availability of vacation rentals. The pandemic further accelerated this trend as people sought temporary housing in less crowded areas to ride out lockdowns and restrictions. Going forward, developments like improved rural broadband connectivity and the flexibility of hybrid work models are expected to further support growth in the vacation rental market.
Market Dynamics:
The vacation rental market is driven by the rising popularity of the sharing economy and remote work culture. Platforms like Airbnb have greatly reduced transaction costs for property owners to participate in the short-term rental market. The pandemic boosted the demand as people looked for accommodations away from crowded cities during lockdowns. However, overregulation and strict laws in some locations pose challenges to growth. Opportunities lie in upgrading local properties to cater to changing traveler needs and integrating new amenities like high-speed internet. The market is also poised to benefit from the ongoing trend of distributed work which is expected to give a lasting boost to long-term stays beyond the pandemic.
Key Features of the Study:
- This report provides an in-depth analysis of the global vacation rental market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue growth 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 approvals, 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, Booking.com, Hotelplan Management AG, MakeMyTrip Pvt. Ltd., OYO Hotels & Homes, Trivago, Agoda Company Pte. Ltd., Yatra Online Private Limited, Hotwire, Inc., HotelsCombined, Hotels.com, BookingBuddy.com, Inc., Priceline.com LLC, KAYAK, Google, Airbnb Inc., Booking Holdings Inc., Hotelplan Holding AG, MakeMyTrip Pvt. Ltd., Expedia Group Inc., NOVASOL AS, Oravel Stays Pvt. Ltd., Wyndham Destinations Inc., and TripAdvisor Inc.
- 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
Market Segmentation
Market Segmentation
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