OUR INDUSTRY
The Vacation & Short-Term Rental Industry
The rapidly expanding industry is the fastest-growing segment of the $200+ billion Travel industry. Vacation rentals are expected to grow at a rapid 7.28% compounded annual Growth rate. In fact, the total United States short-term rental revenue will increase by 42% over the four-year period ended in 2026. (AirDNA)
US consumer confidence is still not 100% and people are looking toward domestic travel vs. international destinations. People are not looking to be around other people and don’t want to share amenities or common spaces. As travelers begin returning to vacation rentals, many of their needs and expectations have evolved.
US consumer confidence is still not 100% and people are looking toward domestic travel vs. international destinations. People are not looking to be around other people and don’t want to share amenities or common spaces. As travelers begin returning to vacation rentals, many of their needs and expectations have evolved.
RECENT GUEST, VISITOR &
RENTER STATISTICS:
- Average nightly rates in popular vacation destinations range from $186 per night for a single rental to $978 per night for a family-sized rental.
- 53% of all travel is booked online.
- 31% of travelers want to take their pet with them (Vrbo).
- 33% of travelers take trips within 250 miles of their home (Vrbo).
- 71% of travelers with children say access to cooking their own meals is a major reason they choose a vacation rental.
- 83% of travelers prefer to spend their vacations near water.
- 74% of travelers prefer to be on the coast.
- 51% prefer mountainous vacations.
- 52% of travelers seek out recommendations on social media when planning a trip (Bookfull).
- The top amenity cited by 64% vacation rental travelers for booking a vacation rental is the kitchen (Bookfull).
- Average nightly rates in popular vacation destinations range from $186 per night for a single rental to $978 per night for a family-sized rental.
- 53% of all travel is booked online.
- 31% of travelers want to take their pet with them (Vrbo).
- 33% of travelers take trips within 250 miles of their home (Vrbo).
- 71% of travelers with children say access to cooking their own meals is a major reason they choose a vacation rental.
- 83% of travelers prefer to spend their vacations near water.
- 74% of travelers prefer to be on the coast.
- 51% prefer mountainous vacations.
- 52% of travelers seek out recommendations on social media when planning a trip (Bookfull).
- The top amenity cited by 64% vacation rental travelers for booking a vacation rental is the kitchen (Bookfull).
what can
we expect?
A look into the trends
in the STR industry
- 81% of Gen Z travelers have stayed in a vacation rental like a home or condo (HomeAway)
- 74% of millennial travelers have rented a vacation rental from an online marketplace like Airbnb or HomeAway (Hipmunk).
- 38% of Gen-X travelers have rented a vacation rental from an online marketplace like Airbnb or HomeAway (Hipmunk).
- 20% of Baby Boomers have rented a vacation rental from an online marketplace like Airbnb or HomeAway (Hipmunk).
- There was a 325% increase in growth among travelers with children on Vrbo in 2018 (Vrbo).
what can
we expect?
A look into the trends
in the STR industry
- 81% of Gen Z travelers have stayed in a vacation rental like a home or condo (HomeAway)
- 74% of millennial travelers have rented a vacation rental from an online marketplace like Airbnb or HomeAway (Hipmunk).
- 38% of Gen-X travelers have rented a vacation rental from an online marketplace like Airbnb or HomeAway (Hipmunk).
- 20% of Baby Boomers have rented a vacation rental from an online marketplace like Airbnb or HomeAway (Hipmunk).
- There was a 325% increase in growth among travelers with children on Vrbo in 2018 (Vrbo).
