Global Short-term Vacation Rental Market Size Study, by Accommodation Type (Home, Apartments, Resort/Condominium), by Booking Mode (Online/Platform-based, Offline), and Regional Forecasts 2022-2032

Global Short-term Vacation Rental Market Size Study, by Accommodation Type (Home, Apartments, Resort/Condominium), by Booking Mode (Online/Platform-based, Offline), and Regional Forecasts 2022-2032

The global short-term vacation rental market is valued at approximately USD 120.75 billion in 2023 and is poised to grow at an impressive compound annual growth rate (CAGR) of 11.40% over the forecast period 2024-2032. This market has gained remarkable traction as travelers increasingly seek flexible, cost-efficient, and personalized lodging options. With its ability to offer unique accommodations tailored to individual preferences, short-term vacation rentals have emerged as a preferred choice for tourists and business travelers alike. The proliferation of digital platforms and booking apps has further revolutionized this industry, simplifying the discovery and booking of vacation homes, apartments, and resorts.

The rising trend of remote work and digital nomadism has significantly fueled the demand for short-term rentals, enabling travelers to combine leisure and professional commitments seamlessly. Moreover, the market's expansion is bolstered by the growing popularity of experiential travel, where tourists prioritize authentic and localized experiences over conventional hotel stays. Despite the promising growth trajectory, challenges such as regulatory restrictions, safety concerns, and intense competition among service providers pose hurdles. However, advancements in platform technologies, enhanced marketing strategies, and the adoption of sustainable practices present lucrative opportunities for market players to address these challenges effectively.

Regionally, North America leads the global short-term vacation rental market, driven by robust infrastructure, a high number of business and leisure travelers, and the widespread acceptance of vacation rental platforms. Europe follows closely, with countries like France, Spain, and Italy serving as hotspots for vacationers. Meanwhile, the Asia-Pacific region is expected to witness the fastest growth during the forecast period, propelled by an expanding middle-class population, rising disposable incomes, and the growing adoption of digital platforms in countries such as China, India, and Japan. Latin America and the Middle East & Africa are also experiencing burgeoning interest in short-term vacation rentals, driven by increasing tourism investments and heightened consumer awareness.

Major market players included in this report are:
• Airbnb, Inc.
• Booking Holdings Inc.
• Vrbo (Expedia Group, Inc.)
• TripAdvisor, Inc.
• Sonder Holdings Inc.
• Vacasa, Inc.
• The Plum Guide Ltd.
• Marriott International, Inc.
• Agoda Company Pte. Ltd.
• TurnKey Vacation Rentals, Inc.
• 9flats GmbH
• Tujia.com
• OYO Homes & Hotels
• HomeAway
• Wimdu GmbH

The detailed segments and sub-segment of the market are explained below:

By Accommodation Type:
• Home
• Apartments
• Resort/Condominium

By Booking Mode:
• Online/Platform-based
• Offline

By Region:
• North America:

o U.S.

o Canada
• Europe:

o UK

o Germany

o France

o Spain

o Italy

o Rest of Europe
• Asia Pacific:

o China

o India

o Japan

o Australia

o South Korea

o Rest of Asia Pacific
• Latin America:

o Brazil

o Mexico

o Rest of Latin America
• Middle East & Africa:

o Saudi Arabia

o South Africa

o Rest of Middle East & Africa

Years considered for the study are as follows:
• Historical Year: 2022
• Base Year: 2023
• Forecast Period: 2024 to 2032

Key Takeaways:
• Market estimates and forecasts for 10 years, from 2022 to 2032.
• Annualized revenue analysis across regional and segment-specific levels.
• In-depth insights into the competitive landscape with profiles of major players.
• Comprehensive analysis of emerging trends, challenges, and opportunities.
• Strategic recommendations to navigate the evolving market landscape.

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