Outlook of vacation rental market
Publisher’s market research analyst believes that
the global vacation rental market will reach $169.7 billion by 2019. The key
regions where global vacation rental adoption is highest are Europe and North
America, wherein the awareness of the concept of a vacation rental is
widespread.
The entry of new technologically oriented start-ups
and higher interest in vacation rentals among travelers is one of the reasons
for market growth. Travelers are more inclined to using business intelligence
software and data mining tools to harness their data to improve their decision-making.
Also, price optimization by utilizing revenue management software is gaining
popularity in the market.
What is vacation rental and why is it important?
A vacation rental is an alternative lodging option
that involves the short-term rental of myriad properties, such as apartments,
farm stays, private homes, cabins, beach houses, villas, cottages, or chalets,
to travelers and tourists. These dwelling units are offered on a nightly,
weekly, or a monthly basis, although the dominant practice in the market is
renting it out weekly. They are also commonly referred to as holiday lettings,
tourist rentals, bed and breakfast, homestay, and gites.
The vacation rental business is becoming more
complex and necessitates the micro-management of processes to improve
competitiveness. Spotting this opportunity, several companies that provide
tailored services have entered the market. This market trend will continue, and
will become even more important in the next five years. It can increase the
rental income for hosts and provide a stress-free travel experience for
renters, improving the overall environment of the market.
Geographical segmentation of global vacation
rental market
- Europe
- North America
- APAC
- Latin America
- MEA
Europe accounted for the largest share of the
market in 2014. The presence of several large, established players and
increasing funding from high-profile investors is driving up market potential
and accelerating its shift to the mainstream category. The promotion of the
concept 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 regions such as APAC, a large number of houses
are lying vacant, and the affiliation for vacation rentals is growing, demonstrating
that the market has the resources and can contribute substantially to its
growth.
Factors driving global vacation rental market
- Rise of sharing economy
- Expansion of online distribution
This market research report provides a number of
factors contributing to the adoption and opportunities in the global vacation
rental market. It also offers an analysis of each factor and an estimation of
the extent to which the factors are likely to impact the overall market growth.
Factors challenging global vacation rental
market
- Lack of proper regulations
- Stalled conversion of lead to transaction
These are only a few of the challenges covered in
this market research report. The full version of this market analysis provides
a more comprehensive list and a discussion on each of the challenges faced by
the global vacation rental market.
Vendor landscape of global vacation rental
market
The market is moderately fragmented with large- and
small-sized players and the competition among these players is intense. However,
as international players increase their footprint in the market with their huge
infrastructure and reach, regional vendors find it difficult to compete in
terms of quality and technology. The competitive environment in this market is
likely to intensify further with an increase in product/service extensions, and
technological innovations. Vendors are adopting various mobile and social
strategies and working toward incorporating an impressive experience.
The top seven vendors of the market are
- 9Flats
- Airbnb
- HomeAway
- TripAdvisor
- Wimdu
- World Travel Holdings
- Wyndham Worldwide
The other prominent vendors of the market include
At Home Abroad, HouseTrip, OnlineVacationRentals.com, Priceline, Rentalo,
Roomorama, Sea2Sky Vacation Rentals, and Villas International.
Key questions answered in the report
- What are the key factors driving the vacation rental market?
- What are the key market trends impacting the growth of the vacation rental market?
- What are the various opportunities and threats faced by the vendors in the vacation rental market?
- Growth forecast for the key segments of the vacation rental market?
- Trending factors influencing the market shares for APAC, Europe, North America and ROW?
- Key outcome of the market analysis of the leading countries in the vacation rental market?
- Key outcome of the five forces analysis on the vacation rental market?
Spanning over 80 pages and 42 Exhibit “Global Vacation
Rental Market 2015 - 2019” report covers Executive summary, Scope of the report,
Market research methodology, Introduction, Market Overview, Market Landscape, Segmentation
by management, Geographical segmentation, Market drivers, Impact of drivers,
Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape,
Other prominent vendors, Key vendor analysis, Appendix, Explore Technavio.
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more information Visit at: http://mrr.cm/obL
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