Vacation Rental Market 2022 Growth, Trends, Leading Players and Business Insights Forecast to 2031 | FlipKey, HouseTrip, Onefinestay, Luxury Retreats

Vacation rental market was estimated to be $75bn in 2021 and is expected to grow at a CAGR of 5.1% over next ten years.

New York, According to a new market research report published by Global Insight Services Vacation Rental Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Key Trends

The vacation rental market has seen a number of key trends in recent years. One of the most notable is the rise of the sharing economy, which has led to a significant increase in the number of people using vacation rental platforms like Airbnb and HomeAway. This has in turn created a more competitive market, with vacation rental companies offering a wider range of services and amenities to guests.

Another key trend is the increasing use of technology by vacation rental companies. This has ranged from the use of online booking platforms to the development of mobile apps that allow guests to book and manage their stay. Vacation rental companies are also using data analytics to better understand customer preferences and to target marketing efforts.

Finally, the vacation rental market is becoming more consolidated, with a few large players accounting for a greater share of the market. This is leading to increased competition and pressure on margins.

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Key Drivers

The vacation rental market has exploded in recent years due in large part to the sharing economy. The rise of platforms like Airbnb and HomeAway have made it easier than ever for people to list their properties and find renters. At the same time, these platforms have made it easier for travelers to find vacation rentals that fit their budget and preferences.

The vacation rental market is also being driven by a desire for more unique and authentic travel experiences. Travelers are increasingly interested in staying in local neighborhoods and getting a taste of the local culture. Vacation rentals often offer more space and amenities than hotel rooms, making them appealing to families and groups.

Finally, the vacation rental market is being driven by a desire for more flexibility and control. Travelers are tired of being tied to hotel schedules and restrictions. Vacation rentals offer more freedom and flexibility, allowing travelers to come and go as they please.

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Market Segments
By Accommodation Type

Home
Apartments
Resort/Condominium
Others

By Booking Mode

Online
Offline

Key Players

Airbnb
HomeAway
VRBO
Expedia
Booking.com
FlipKey
HouseTrip
Onefinestay
Luxury Retreats
Villas.com
Casamundo
TripAdvisor Vacation Rentals
Owners Direct

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Reasons to buy Vacation Rental Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

This release was published on openPR.