Global Vacation Rental Market Size, Share and Trends Analysis Report 2022: Focus on Home, Apartments, Resorts/Condominiums – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Vacation Rental Market Size, Share and Trends Analysis Report by Accommodation Type (House, Apartments, Resort/Condominium), By Booking Mode (Online, Offline) , by region and segment forecast, 2022-2030″ report has been added to from ResearchAndMarkets.com offer.

The global vacation rental market size is expected to reach USD 119.0 billion by 2030 and is expected to grow at a CAGR of 5.3% from 2022 to 2030.

Due to the comfort, low cost, greater privacy, and child- and pet-friendly nature of accommodations, travelers are more likely to favor vacation rentals and homes over hotels.

Additionally, vacation rentals offer a variety of affordable and high-quality accommodation options in multiple destinations, which is likely to drive the growth of the market. According to the Turnkey blog in 2019, the industry is seeing a growth rate of around 10% this decade, largely affected by travelers’ desire to stay in a home instead of a hotel.

According to TurnKey Vacation Rentals’ 2019 Consumer Travel Survey, 64% of travelers prefer to stay in vacation rentals over hotels, which is a 10% increase from the US Travel Survey. consumers of 2018.

Additionally, the evolving trend of transformational travel surrounding wellness travel to restore balance and transform the mind, spirit, and body is expected to drive the market during the forecast period. According to a Hospitality Net blog, a typical vacation such as sun, sand and sea; ski; touristic; and shopping should be in high demand.

In addition, a greater preference for domestic travel over international travel is likely to boost domestic vacation rental activity across the world.

In terms of accommodation type, the resort/condominium segment is estimated to be the fastest growing segment during the forecast period. The growing popularity of tourism due to the growing number of travelers looking to relax while enjoying luxury amenities is expected to fuel the growth of the segment.

Europe led the market with a revenue share of more than 30.0% in 2021. Growing travel connectivity, coupled with the rapid penetration of high-speed internet, has made even the most remote locations of Europe more accessible to travellers. This drives the need to explore new exotic and exciting places in the region, thus fueling the growth of the market over the forecast period.

Vacation Rental Market Report Highlights

• The segment of home accommodation types dominated the market with a share of over 45.0% in 2021. The increased preference for homes among travelers due to space availability, security features and access to amenities is driving segment growth.

• The online booking mode is expected to grow at the highest CAGR of 6.0% during the forecast period. With an increase in internet and smartphone penetration across all regions, vacation rental service providers are driving growth in online bookings driven by increased monthly visitors

• Asia-Pacific is expected to register the fastest CAGR of 6.5% from 2022 to 2030. Market growth in the region is mainly attributed to rising consumer spending on travel and accommodation. Additionally, rising spending by travelers from developing countries such as India, Philippines, Vietnam, and Australia is further expected to support the market growth in the region.

Main topics covered:

Chapter 1. Methodology and scope

Chapter 2. Executive Summary

Chapter 3. Vacation Rental Market Variables, Trends and Scope

Chapter 4. Consumer Behavior Analysis

Chapter 5. Vacation Rental Market: Accommodation Type Estimates and Trend Analysis

Chapter 6. Vacation Rental Market: Booking Mode Estimates and Trend Analysis

Chapter 7. Vacation Rental Market: Regional Estimates and Trend Analysis

Chapter 8. Competitive Analysis

Chapter 9. Business Profiles

• 9flats.com PTE Ltd.

• Airbnb inc.

• Reservation Holdings Inc.

• Expedia Group, Inc.

• Hotelplan Management AG

• MakeMyTrip Pvt. ltd.

• NOVASOL A/S

• Oravel Stays Pvt. ltd.

• TripAdvisor Inc.

• Wyndham Destinations Inc.

For more information on this report, visit https://www.researchandmarkets.com/r/b5s50e