This report segments the vacation rental market by type of management (professional and individual home owners) and by geography (Europe, North America, APAC, Latin America, and MEA). The key vendors in the market are 9Flats, Airbnb, HomeAway, TripAdvisor, Wimdu, World Travel Holdings, and Wyndham Worldwide.
Technavio has released updated information on the travel market, with the publication of its new market research report, global vacation rental market. The global vacation rental market is expected to grow at a CAGR of 7.5% between 2015 and 2019. The number of vacation rentals booked online has progressed immensely over the last eight years creating greater opportunities for market growth. Europe is the largest revenue contributing region in the vacation rentals market, accounting for 53% of the overall market share. The promotion of renting out a vacation rental home on social and digital platforms is expected to play a key role in attracting these new customers in the region.
“Now-a-days, several companies have entered the vacation rentals market to provide tailored services to managers of vacation rental business and travellers. These companies are specialized in promoting vacation rentals across online sites, and provide a specifically designed general liability insurance for vacation rental providers; optimize listings and profiles; booking and scheduling; household goods restocking; and check-in services,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
The individual home owner segment contributes the largest share with almost 66% to the overall market revenue, as a majority of owners prefer listing their properties and managing it themselves. Companies such as Airbnb and HomeAway largely cater to the owner segment. The higher preference for frequent stays in this sector due to personal interaction is likely to drive the growth of the market.
The key players in the global vacation rental market are 9Flats, Airbnb, HomeAway, TripAdvisor, Wimdu, World Travel Holdings, and Wyndham Worldwide. This market is moderately fragmented with large- and small-sized players with high competition prominent among these players. However, as international players increase their footprint in the market with their huge infrastructure and reach, regional vendors find it increasingly tough to compete in terms of quality and technology.
A more detailed analysis is available in the Technavio report, Global Vacation Rental Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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