Vacation Rental Market Projected to Grow at 4.27% CAGR, Expected to Reach USD 114.7 Billion by 2030

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Vacation Rental Market Overviews

Vacation Rental Market size was valued at USD 85.57 Billion in 2023 and the total Vacation Rental Market size is expected to grow at a CAGR of 4.27 4.8 % from 2024 to 2030, reaching nearly USD 114.7 Billion by 2030.

Vacation rentals refer to privately-owned accommodations available for short-term rental to travelers. Typically, these include fully furnished apartments, condos, houses, cottages, or lodges, providing guests with access to kitchens, amenities, and outdoor spaces. Many travelers prefer vacation rentals over traditional hotels due to the increased privacy, space, and the opportunity to experience a more local lifestyle.

Recent analysis of the vacation rental market has identified current trends that are influencing market growth and creating new opportunities.

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Vacation Rental Market Scope and Methodology:

The rise in the popularity of travel and tourism, fueled by the remote work trend, has led to a 68% increase in vacation durations, with stays averaging between 21 to 30 days in 2023. The travel industry is thriving as more people opt for vacation rentals over traditional hotels, contributing to market growth. A significant factor driving the vacation rental market is the surge in short-term rental properties. For example, the short-term rental sector has experienced notable expansion in recent years, largely due to the popularity of prominent platforms like Airbnb and VRBO (Vacation Rental by Owner), which have further accelerated market development.

Vacation Rental Market Regional Insights

Europe dominated the market in 2023 and is projected to maintain its dominance through the forecast period. Europe is known for having the largest tourism industry in the world owing to its rich history, and improved infrastructure has made it more accessible to a wider range of consumers. Travellers in Europe are increasingly looking for unique and authentic experiences, which has boosted the demand for vacation rentals over traditional hotels. Customers are seeking more space, privacy, and flexibility during their stays, leading to a rise in bookings for vacation rental properties. In popular tourist destinations like Spain and Italy, there has been a surge in the number of vacation rental properties as homeowners capitalize on the growing demand from tourists.

Vacation RentalMarket Segmentation

In 2023, the online segment captured the largest share of the vacation rental market and is anticipated to continue growing at an increasing compound annual growth rate (CAGR) through 2030. This growth is primarily driven by a shift in customer preferences toward online booking, which has significantly enhanced market expansion. Online booking provides travelers with convenience and the flexibility to reserve accommodations at any time.

Vacation Rental Market Key Players

AirBnB Rental Management Company
Vacasa
VTrips
9flats.com Pte Ltd.
Booking Holdings Inc.
Expedia Group Inc.
MakeMyTrip Pvt. Ltd.
NOVASOL AS
TripAdvisor Inc.
Wyndham Destinations Inc.
Booking Holdings Inc.

To Learn More About This Study, Please Click Here:https://www.stellarmr.com/report/Vacation-Rental-Market/1845

Key questions answered in the Vacation Rental Market are:

What is Vacation Rental ?
What was the Vacation Rental market size in 2023?
What is the growth rate of the Vacation Rental Market?
Which are the factors expected to drive the Vacation Rental market growth?
What are the different segments of the Vacation Rental Market?
What growth strategies are the players considering to increase their presence in Vacation Rental ?
What are the upcoming industry applications and trends for the Vacation Rental Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Vacation Rental Market?
Who are the leading companies and what are their portfolios in Vacation Rental Market?
What segments are covered in the Vacation Rental Market?
Who are the key players in the Vacation Rental market?

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by Different Segment | 2024−2030
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations

About Stellar Market Research:

Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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