Vacation Rental Market Is Projected to Value USD 123.81 Billion at a CAGR 5.80%, Globally, by 2029: States Data Bridge Market Research

The large-scale Vacation Rental Market report provides market analysis by taking into account market structure along with forecasts for the various segments and sub-segments of the Vacation Rental Market industry. An exhaustive analysis of factors influencing investment is also provided in this report, forecasting impending opportunities for businesses and developing strategies to improve return on investment (ROI). The data and information concerning the Vacation Rental Market industry are derived from consistent sources such as websites, annual reports of companies, journals, and others and were checked and validated by market experts.

Explore Further Details about This Research Vacation Rental Market Report

https://www.databridgemarketresearch.com/reports/global-vacation-rental-market

As per the analysis of Copyrise, around 200,000 million global tourists are millennials and they expend about USD 180 billion on travel every year. Moreover, it has been witnessed that while traveling with family, consumers consider several factors for choosing a vacation rental for amenities and comfort. The "home segment" is expected to be the fastest growing accommodation segment due to the high popularity of homes among travellers because of its safety, space availability and amenities.

Data Bridge Market Research analyses that the vacation rental market was valued at USD 78.86 billion in 2022 and is expected to reach USD 123.81 billion by 2030, registering a CAGR of 5.80% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.

Market Definition

A vacation rental is temporarily renting out a furnished house, apartment or professionally managed resort-condominium complex to travellers and tourists. Vacation rental is an alternative to a hotel. The term vacation rental is mostly used in the US. Other terms used are holiday homes, self-catering rentals, holiday lets, cottage holidays and gites

Some of the major players operating in the vacation rental market are:

9flats (India)
Airbnb, Inc. (U.S.)
Booking (Netherlands)
Expedia, Inc. (U.S.)
MTCH AG (U.K.)
MAKEMYTRIP PVT. LTD. (India)
NOVASOL A/S (Denmark)
OYO Hotels & Homes (India)
TripAdvisor LLC (U.S.)
Wyndham Destinations (U.S.)
Trivago (Germany)
Agoda Company Pte. Ltd (India)
Yatra Online Private Limited (India)
Hotwire, Inc. (U.S.)
HotelsCombined (Australia)
KAYAK (U.S.) 

Drivers

Increasing inclination towards vacation rental property

Travelers are more inclined towards the vacation rental property in the market over hotels due to the comfort, more privacy, low cost, and pet-friendly nature of the accommodation. Low cost compared to hotel accommodation with comparable amenities drives consumers' inclination towards vacation rental property. For instance, according to the survey of Turnkey Vacation in 2019, 64% of travellers prefer staying in vacation rentals to hotels.

Increasing trend of transformational travel

The growing trend of transformational travel surrounding wellness trips to restore balance and transform the spirit, mind and body is anticipated to drive the market growth during the forecast period. According to a blog of Hospitality Net, usual holidays such as sand, sun, sea, skiing, sightseeing, and shopping are likely to be high in demand. Furthermore, a higher preference for domestic travel than international travel is expected to increase the demand for domestic vacation rental business all over the globe.

Global Vacation Rental Market Scope

The vacation rental market is segmented on the basis of accommodation, booking mode, location type, end user and price point. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Accommodation

Home
Apartments
Resort/Condominium
Others

Booking Mode

Online
Offline

Location Type

Resort Area
Rural Area
Small Town
 Others

End User

Gen Z
Millennials
Gen X
Boomers

 Price Point

Economic
Mid-Range
Luxury

Key points in the Vacation Rental Market report

Strategic recommendations in key business sections in light of the market estimations.
Market share and size of all the foremost industry players
Strategic proposals for the new participants
To describe and forecast the Vacation Rental Market, in terms of value, by process, product type, and industry.
To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, and detail the competitive landscape for Vacation Rental Market leaders

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