Vacation Rental Market 2021 Newest Industry Data, Growth Prospects, Future Trends And Forecast to 2030

The global vacation rental market was exceeded 26.5 Billion in 2021 and is projected to reach US$ 111.2 billion by 2030, up 17.3 percent Year-Over-Year (2021-2030), according to a 2022 study by Precedence Research, the Canada-based market Insight Company.

The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 and 2020, the forecast period considered is from 2021 to 2030. The vacation rental market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).

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The global vacation rental market is primarily driven by the growth of the tourism industry. The rising awareness among the travelers regarding the availability of the vacation rental services and the rising tourism activities by the millennials are the major drivers of the vacation rental market.

The low cost availability of homes, big space, and comfort offered by the vacation rentals is boosting the adoption of the vacation rentals among the population. The millennials are projected to be the most significant drivers of the market. According to the Airbnb, the millennials and the younger generations will constitute around 75% of the tourist population by 2025. The increased penetration of internet and various social media platforms plays a crucial role in the spreading awareness about the destinations, hotels, restaurants, and vacation rentals among the population. The vacation rental market is fueled by the heavy investments pumped by the government towards the development of the connectivity and infrastructure especially in the developing nations is augmenting the market growth.

The rapid spread of the COVID-19 disease among across the globe resulted in the implementation of strict travelling restriction that forced the people to stay at their homes for indefinite time period. This resulted in huge losses to the revenue generation of the vacation rental industry. According to the World Tourism Organization, the tourism activities witnessed a fall of over 70% in 2020. The rapid pace of the vaccination drives across the globe is estimated to ramp up the growth of the vacation rental market from 2021. Moreover, the revenge tourism is a trending topic that is believed by the experts to significantly drive the growth of the vacation rental market during the first few years after the COVID-19 pandemic.

Scope of the Vacation Rental Market

Report Coverage Details
Market Size in 2020 US$ 22.7 billion
Revenue Projection by 2030 US$ 111.2 billion
Growth Rate CAGR of 17.3% From 2021 to 2030
Largest Market Europe
Fastest Growing Market Asia Pacific
Base Year 2021
Forecast Period 2021 to 2030

Competitive Landscape Analysis:

Some of the leading companies operating in the vacation rental market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.

Major companies operating in this report are

  • 9flats
  • Airbnb
  • Booking.com
  • Expedia
  • Hotelplan Management AG
  • MAKEMYTRIP PVT. LTD.
  • NOVASOL
  • OYO Hotels & Homes
  • TripAdvisor LLC
  • Wyndham Destinations
  • Trivago
  • Agoda Company Pte. Ltd.
  • Yatra Online Private Limited
  • Hotwire, Inc.
  • HotelsCombined
  • Hotels.com
  • BookingBuddy.com, Inc.
  • priceline.com LLC
  • KAYAK
  • Google

Market Dynamics

Driver

The increasing penetration of the online and instant booking platforms

The rising popularity and the growing presence of the numerous online booking platforms that provides instant booking for the destinations are expected to drive the market. The consumers are offered instant ticket, hotels, restaurants, and traveling tickets booking and the conveniences and zero cancellation charges are the major policies that is expected to boost the growth of the vacation rental market during the forecast period.

Restraint

Risks of fraud involved in the online booking system

There are several security issues associated with the online ticket booking that can result in financial losses to the consumers as well as the vendors. The unethical sites, paid reviews, and fraudulent websites may hinder the growth of the global vacation rental market.

Opportunities

Various growth strategies adopted by the market players

The global vacation rental market is highly fragmented owing to the presence of numerous big players. Moreover, various developmental strategies adopted by them highly influences the market growth. For instance, in April 2019, Marriott International introduced Homes & Villas that offers 2,000 luxury homes across North America, Europe, and Latin America.

Report Highlights

  • Based on the accommodation, the homes segment dominated the market with around 48% of the market share in 2020. The higher preferences for the homes as it is affordable, spacious, safe, and it perfectly serves the baby boomers. The rising investments by the market players in the development of various homes for the tourists for serving it as a vacation rental is further expected to fuel the market growth.
  • Based on the booking mode, the online segment is expected to be the fastest-growing segment owing to the rising adoption of internet and smartphones among the population. Moreover, the rising popularity of various online service providers and the aggressive digital marketing strategies adopted by them is fueling the adoption of online booking mode across the globe.

Regional Snapshots

Europe dominated the global vacation rental market, garnering a market share of around 36% in 2020. The European countries such as Spain, Italy, France, Scotland, and Switzerland are expected to present lucrative growth opportunities to the market players operating in the vacation rental market. The aforementioned nations are well-known among the tourists for its exotic destinations. Moreover, the presence of well-connected and developed infrastructure has resulted in the emergence of Europe as the top vacation rental market.

Asia Pacific is estimated to be the most opportunistic market during the forecast period. The increasing investments by the government in the development of the tourism sector in the countries such as Singapore, Thailand, Vietnam, and India is a augmenting the market growth. Furthermore, the rising awareness among the tourists regarding the availability of the vacation rental market is fueling the demand for the vacation rentals in the region.

Market Segmentation

By Accommodation

  • Apartments
  • Homes
  • Resorts
  • Others

By Booking Mode

  • Offline
  • Online

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Why should you invest in this report?

If you are aiming to enter the global vacation rental market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for vacation rental are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Vacation Rental Market 

5.1. COVID-19 Landscape: Vacation Rental Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Vacation Rental Market, By Accommodation

8.1. Vacation Rental Market, by Accommodation Type, 2021-2030

8.1.1. Apartments

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Homes

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Resorts

8.1.3.1. Market Revenue and Forecast (2019-2030)

8.1.4. Others

8.1.4.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Vacation Rental Market, By Booking Mode

9.1. Vacation Rental Market, by Booking Mode, 2021-2030

9.1.1. Offline

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Online

9.1.2.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Vacation Rental Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.1.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.1.3.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.1.4.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.2.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.2.3.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.2.4.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.2.5.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.2.6.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.3.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.3.3.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.3.4.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.3.5.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.3.6.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.4.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.4.3.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.4.4.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.4.5.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.4.6.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.5.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.5.3.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Accommodation (2019-2030)

10.5.4.2. Market Revenue and Forecast, by Booking Mode (2019-2030)

Chapter 11. Company Profiles

11.1. 9flats

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Airbnb

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Booking.com

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Expedia

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. Hotelplan Management AG

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. MAKEMYTRIP PVT. LTD.

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. NOVASOL

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. OYO Hotels & Homes

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. TripAdvisor LLC

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Wyndham Destinations

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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