Vacation Rentals

Vacation Rentals

Global Vacation Rentals Market to Reach US$246.4 Billion by 2030

The global market for Vacation Rentals estimated at US$194.8 Billion in the year 2023, is expected to reach US$246.4 Billion by 2030, growing at a CAGR of 3.4% over the analysis period 2023-2030. Owners-Managed Vacation Rentals, one of the segments analyzed in the report, is expected to record a 3.6% CAGR and reach US$163.0 Billion by the end of the analysis period. Growth in the Professionally Managed Vacation Rentals segment is estimated at 3.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$53.1 Billion While China is Forecast to Grow at 6.6% CAGR

The Vacation Rentals market in the U.S. is estimated at US$53.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$51.1 Billion by the year 2030 trailing a CAGR of 6.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.1% and 2.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.8% CAGR.

Vacation Rentals - Key Trends and Drivers

Vacation rentals have become a popular alternative to traditional hotel accommodations, offering travelers unique and personalized experiences that cater to a wide range of preferences and budgets. These rentals include a variety of property types such as apartments, houses, villas, and cabins, available for short-term stays. Platforms like Airbnb, Vrbo, and Booking.com have revolutionized the vacation rental market by providing easy access to a vast array of properties worldwide. Vacation rentals appeal to families, groups, and solo travelers alike, offering more space, privacy, and the comforts of home, such as fully equipped kitchens and laundry facilities. This flexibility and the ability to live like a local are major draws for many travelers seeking a more immersive and customized travel experience.

The vacation rental industry has seen significant growth and evolution in recent years, driven by changing travel trends and advancements in technology. The rise of the gig economy and peer-to-peer platforms has facilitated the entry of individual property owners into the market, increasing the supply and diversity of available rentals. Enhanced digital tools and features, such as virtual tours, real-time booking, and dynamic pricing algorithms, have improved the user experience and operational efficiency for both hosts and guests. Additionally, the COVID-19 pandemic accelerated the demand for vacation rentals as travelers sought safer and more secluded accommodation options away from crowded hotels. The industry has also seen a shift towards longer stays, with remote work and "work-from-anywhere" trends allowing travelers to combine work and leisure in extended trips.

The growth in the vacation rentals market is driven by several factors. One of the primary drivers is the increasing consumer preference for personalized and unique travel experiences that vacation rentals can offer. Technological advancements, including the development of sophisticated booking platforms and mobile apps, have made it easier for travelers to find, book, and manage vacation rentals. The rising popularity of the sharing economy and peer-to-peer services has also contributed to the growth, as more property owners are willing to rent out their homes or investment properties to travelers. Economic factors, such as the search for more cost-effective accommodation options, especially among families and groups, further bolster the market. Additionally, the ongoing trends of remote work and digital nomadism have expanded the market beyond traditional vacationers to include professionals seeking temporary living arrangements in different locales. These factors collectively ensure that the vacation rental market will continue to expand, reflecting broader shifts in travel behavior and the increasing integration of technology in the hospitality industry.

Select Competitors (Total 52 Featured) -

• Agoda Co. Pte. Ltd.
• Airbnb Inc.
• atraveo GmbH
• Boutique Vacation Rentals
• Casiola WorldWide LLC
• Evolve Vacation Rental Network Inc.
• Expedia Group Inc.
• Holidu GmbH
• HomeToGo GmbH
• Hotelplan Group
• Lifealike Limited (Onefinestay)
• NOVASOL A/S
• Smiling House
• StayBeyond Ltd.
• TripAdvisor Inc.
• Wyndham Destinations, Inc.;

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.