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According to Custom Market Insights (CMI), the Global Vacation Rental Market size was estimated at USD 92.53 Billion in 2021 and is expected to hit around USD 317.76 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 13.97 % from 2022 to 2030.
Overview
Global Vacation Rental Market
Vacation Rental Market: Overview
Vacation Rental Market Size, Trends, and Insights By Accommodation Type (Home, Resort/Condominium, Apartments), By Booking Mode (Online, Offline), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023 2032
According to Custom Market Insights (CMI), The Vacation Rental Market size was estimated at USD 92.53 Billion in 2021 and is expected to hit around USD 317.76 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 13.97% from 2022 to 2030.
The studys focus is on the Vacation Rental market analysis on a global scale, and market sizing includes the income generated by these solutions provided by different market players. In order to support the market projections and growth rates over the anticipated period of 2022-2030, the study additionally monitors important market factors, underlying growth influencers, and significant vendors active in the sector. The study also examines how COVID-19 has affected the ecology generally. The scope of the study includes market sizing and forecast for segmentation by accommodation type, booking mode, and geography.
Get a Free Sample Report with All Related Graphs & Charts (with COVID 19 Impact Analysis): https://www.custommarketinsights.com/request-for-free-sample/?reportid=22982
Vacation Rental Market: Growth Drivers
The millennial demographic is driving the global vacation rental market with rising travel, vacation, and lodging spending. Millennials make up 200,000 million of the worlds travellers, and they spend over 180 billion dollars on travel annually, according to Copyrise.
Due to their lower prices compared to hotels, vacation rentals are also becoming more and more in demand. According to Stratos Jet Charters, Inc. statistics, there are currently 2.9 million hosts using Airbnb worldwide, and each month in 2021, there will be more than 14,000 new hosts. Additionally, as of 2021, there will be about 100,000 cities with active Airbnb listings across the companys 220 operating nations.
Consumer knowledge of services and offerings is growing as a result of social media and the internet. A number of services, exotic places, and amenities are being offered specifically for female visitors by key firms in an effort to capture market share. For instance, Golightly, a platform for holiday rentals run entirely by women and open to female guests only, was introduced in January 2020. More than 350 properties are owned by the corporation worldwide.
Report URL: https://www.custommarketinsights.com/report/vacation-rental-market/
Vacation Rental Market: Regional Analysis
In 2021, Europe commanded a market share of nearly 30%. This is attributable to large and online travel agencies catching up with the burgeoning glamping trend and rising costs for lodging at hotels and condos. Over the projected period, it is predicted that the U.K. and Germany will dominate the market. According to projections, the U.K. market will expand the fastest in the region.
From 2022 to 2030, Asia Pacific is anticipated to have the greatest rate. The increase is primarily related to consumers growing travel and lodging expenses. In the area, China had the greatest revenue share in 2021, and it is predicted that it would continue to lead in the years to come. It is also predicted that increased traveller spending from other developing nations, such as Australia, the Philippines, Vietnam, and India, will drive market expansion in the region.
Vacation Rental Market: Recent developments
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2022: Meredith Lodging intended to acquire Mt Hood Vacation Rentals in order to increase its presence in the Mount Hood area.
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2021: Getaroom was acquired by Booking Holdings Inc. from Court Square Capital Partners for USD 1.2 billion. The brand wants to raise the value of its pipeline with this acquisition.
Key Players:
- 9flats
- Booking.com
- Hotelplan Management AG
- MAKEMYTRIP PVT. LTD.
- OYO Hotels & Homes
- Trivago
- Agoda Company Pte. Ltd.
- Yatra Online Private Limited
- Hotwire, Inc.
- HotelsCombined
- Hotels.com
- BookingBuddy.com, Inc.
- priceline.com LLC
- KAYAK
- Airbnb Inc.
- Booking Holdings Inc.
- Hotelplan Holding AG
- MakeMyTrip Pvt. Ltd.
- Expedia Group Inc.
- NOVASOL AS
- Oravel Stays Pvt. Ltd.
- Wyndham Destinations Inc.
- TripAdvisor Inc.
- Others
Press Release: https://www.custommarketinsights.com/press-releases/vacation-rental-market-size/
The Vacation Rental Market is segmented as follows:
By Accommodation Type
- Home
- Resort/Condominium
- Apartments
- Hometown
- Villas
By Booking Mode
- Online
- Offline
- Others
By Price Point
- Economic
- Mid Range
- Luxury
By Location Type
- Resort Area
- Rural Area
- Small Town
- Others
By End User Generation
- Gen Z
- Millennials
- Gen X
- Boomers
On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- New Zealand
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Browse Other Custom Market Insights coverage of the CONSUMER GOODS Industry
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