What is vacation rental service and what experience does it bring to customers? Why is the demand for vacation rentals increasing?
The vacation rental market was already booming before the pandemic, but interest rates have only shown signs of skyrocketing in the past year.
The size of the global vacation rental market is expected to reach $113.9 billion by 2027, according to a report by Grand View Research. In March, Jeff Hurst, president of Vrbo (founded in 1995 as Vacation Rentals By Owner) told CNN Business that the company is having the most successful start in 25 years in the US.
In fact, the service has proven to be so popular that Netflix has just launched a new series on the subject, “The World’s Most Amazing Vacation Rentals.” , bringing viewers the most unique vacation rentals on the planet, led by Luis D. Ortiz and vloggers Megan Batoon and Jo Franco. They will compete with each other to find out some of the best places.
Jo – an influencer in the travel industry (she is part of the duo Franco from the popular YouTube channel “Damon and Jo”) – said she always prioritizes vacation rentals over hotels, because they allow tourists to mingle. themselves into the culture of the place they are visiting as well as being more flexible.
“I think vacation rentals give people flexibility,” the Brazilian-born vlogger tells CNN Travel.
“There are some great hotels, but it depends on the type of trip you want to do. Hotels are designed for the resort-oriented traveler, but vacation rentals are designed for people. travel. Vacation rentals can be located in local communities. If you’re planning to learn, explore and meet locals, this is pretty cool,” she continued.
The “World’s Greatest Vacation Rentals” program follows a series of 24 different rentals, including an igloo in Finland, a cabin in Hawaii with its own waterfall, and an apartment with like the snake in Mexico City. It is not surprising that through the program, the rental points during that vacation saw a sharp increase in bookings.
Franco admits: “…Sleeping in an igloo is a bit silly. It was perhaps the most uncomfortable, but most memorable, sleep. Finland in winter is something out of story books. It’s wondrous.”
For Franco, targeting affordable properties is the most important part of the program, like a $24-a-night apartment in Ubud, Bali or more luxurious places like an island. private in the Bahamas.
Vacation rentals offer an affordable option
The 28-year-old vlogger, who moved from Brazil to the US to live from her childhood days, did not have too many conditions to pursue her passion for travel in her young years. However, she solved this problem by working for hostels in exchange for free, discounted accommodation and traveling around the US on buses to save money.
She explains: “A lot of travel shows are focused on multimillion-dollar mansions, but there’s nothing to worry about. You can always find something within your reach.”
For those who want to keep travel costs as low as possible, Franco recommends looking to vacation rentals a little further away, as they tend to be cheaper and travelers are forced to explore only the most popular destinations. less known area, and must use public transport.
“Make sure it’s safe – this is a top priority. There are always places that are not well known, although a bit far from the center, but because of that, the prices are cheaper. I call them vacations for people Go to work. Meet the locals, ask about their lives because you can learn some historical facts that you never knew about.”
According to Airbnb, cabins rank first in the “unique type of accommodation that many people want” in 2021, while interest in treehouses has increased by 80%, accommodations such as warehouses also increased 63% since March 2020.
The vacation rental company noted that users have been “looking for non-traditional vacations that offer lots of privacy and the outdoors” due to the pandemic.
“People really care about safety, so remote and isolated places will be popular,” says Franco.
Choose vacation rental because of the long-term resort trend
Having to work remotely because of Covid-19 means that some tourists rent vacations for long-term stays – to both work and relax. Vacation rental platform HomeToGo notes that now travelers are booking rentals for longer periods of time.
“We’ve also found that travelers are turning to vacation rentals to make it easier for them to get longer stays, with an average stay of 11 days (+14% vs 2019) for those domestic holiday,” said Mahendra Roopa, Product Manager, Machine Learning and Data Science at HomeToGo.
“As the world reopens, travelers need to make up for it and spend time to live fully in a new destination.”
Another notable trend is that tourists vacation in larger groups and choose to rent larger properties.
In April, vacation rental property management company TurnKey Vacation Rentals observed five times higher demand for homes with four bedrooms or more than for homes with one bedroom and taller. about 60% compared to other types of houses. This is not unusual for Franco, one of the young travelers looking to save money should consider spreading the cost of vacation rentals by traveling in groups.
“I’m always looking for ways to save money. Since I started traveling, I’ve slept in hostels with 20 other strangers,” she explains. “With vacation rentals, you can totally find Get budget-friendly options, and traveling with a group will split the cost.”
Currently, there are more than 1.3 million vacation rentals in the US, and the successful rollout of a vaccine is helping to boost tourism in the country. HomeToGo reports that domestic holiday search demand is up 58 percent this year from pre-pandemic, and visitors are particularly eyeing homes located in smaller towns and rural areas.
Caroline Burns, Head of PR and travel specialist at HomeToGo, said: “This boom in domestic tourism has directed travelers’ attention to potential destinations close to their homes. There are many reasons why staycations are more appealing: less stress from quarantine, more convenience when traveling, for example.
However, with vacation rentals reaching their all-time high in popularity, Franco stressed that those less familiar with off-campus stays should be careful before signing up.
“You have to remember, you’ll be staying at someone else’s home and in their community, respect that,” she says. “Be a responsible traveler, and don’t forget to learn about some of the amenities. For example, if you love to drink coffee and only have a two-week vacation, the lack of a coffee machine in your house could ruin your mornings. you already.”
Source: Vacation rental demand has gone crazy. Here’s how you can still get a deal (Tamara Hardingham-Gill, CNN)