The Vacation rental industry is beginning to surge in popularity.
According to PhoCusWright, renowned travel and tourism analysts, vacation rentals report more than 33 million available units in the US market as of 2007 and $24.3 billion in rental revenue. Approximately 10 percent of all US adults and nearly 20 percent of all online travelers have booked a vacation rental. There is a huge growth opportunity for vacation rentals, and their value compared to traditional hotel stays is becoming clearer to the vacationing public.
“Vacation rentals are really starting to catch on,” says Margie ‘Di Guiseppe’ Van Zee, COO/Founder of Bella Palazzo, a company that markets a higher-end inventory of vacation homes. “People are starting to realize they can have the uniqueness of a private venue and have access to the wow factor. This is a more intimate experience and we are also able to offer all the hotel type amenities and services.”
Something else that should be pointed out about vacation rentals is the incredible value that the travelers receives when booking a property. “The average 5-star luxury vacation home is less expensive than a mid-range hotel on a cost per night/person basis,” said Michael McFadden, co founder of At the Society.
Seaside Vacations has great vacation rental homes that start as low as $30 per person per night.
I totally agree with you that vacation rentals are getting more and more popular, especially now that we are having a downswing in the economy. People are beginning to realize that they don’t have to book an expensive hotel for their dream vacation. Renting a vacation home not only will save you money, but you will have more amenities than hotels can provide. Along with this you will have the option of eating out or cooking your own meals. This is without a doubt the most affordable way to travel with family or friends.
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