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Vacation Rental Industry Update: 2013 End of Year Review {The Boom Days Have Arrived}

By December 3, 2013 One Comment

boomAt the end of August I discussed the approaching sweet spot for VRM projects (ah hem…smart home control) – the end of a hectic summer and the start of a quiet(er) fall season.

And now, December! Bam.

Just like that, the year is coming to a close. It sure does move quickly.

I haven’t shared a vacation rental industry update since April. It seems like a good time for a little catch-up.

A healthy dose of VR links mixed with a dash of commentary. The perfect recipe for industry updatedness.

  1. 2012 VR Survey Results: What gets measured, gets improved. A fab infographic from Visual Data Systems to offer a bit of a virtual yardstick. Some stats from the summer of 2012 to help measure your successes of 2013.
  2. VR Home Sales “Sizzling” Headed Into Summer: Yep, “sizzling.” Direct quote. Vacation home sales rose 10% nationally in 2012. Not too shabby.
  3. U.S. Travelers Choosing Vacation Rentals: Some sweet VR stats offered up by TripAdvisor and shared by Blizzard Marketing. 49% (A smidge less than half!!!) of travelers indicated that they either have or plan to stay in a rental home in 2013, up from 40% in 2011 and 46% in 2012. The tides are changing.
  4. Travelers’ Trends for 2015: Break out the crystal ball. How will mobile effect the relationship you have with your guests? Perhaps this infographic will offer some insight.
  5. Vacation Rentals are the Fastest Growing Trend in Travel: The travel sector is a monster…think billions $$$. And one of the most trusted voices in travel, Frommers, confirms that vacation rentals are the bombdiggity. Yep, that good. The FASTEST growing trend in travel. Awesome. Side note: Here’s the drawback of vacation rentals mentioned in the article…

    “An obvious drawback is that they don’t have to meet the same standards of quality and service or undergo the same safety standards and inspections.”

    A great way to start to standardize safety, security, and quality – Smart Home Control.

  6. Vacation Rentals Climb to a $23 Billiion Industry (yep, a B!): This article discusses the momentum growing around vacation rental homes and quotes PhocusWright’s recent study that pegs the US vacation rental industry at $23B!!! That’s amazing. And we’re just getting started. 
  7. Confirmed: US Vacation Rentals are a $23 Billion Industry – Nearly One-Fifth of the U.S. Lodging Market: Seems like the same link as above? Nope. Ho hum, just another article discussing the GIANT force the vacation rental industry has become. This article dives into further stats from the PhocusWright study…and even includes a nifty infographic.
  8. Infographic: Vacation Rental Trends: For those of us more visually inclined, a great infographic highlighting some significant travel and vacation rental trends.
  9. Vacation Rentals Outpaced Hotels this Summer!: According to a HomeAway survey, vacation rental occupancy rates for the summer of 2013 outpaced hotels – 77% vs. 70%. In addition, the average weekly rental rate rose 19% over the same period in 2012. Dang!
  10. Expedia Getting Into Vacation Rentals: There are a lot of “pros vs. cons” discussions around big dawgs jumping into the mom-and-pop vacation rental industry, and I’ll leave those discussions to the comment section, but Expedia (and other big dawgs like Wyndham, TripAdvisor, Booking.com, etc.) jumping into the VR mix is definitely a sign of the power of vacation rentals. Watch out travel industry!
  11. Vacation Rentals: A Booming Industry: Some more fuel for the booming VR fire, a post from FlipKey with direct quotes from the Frommers…

Arthur: The single strongest trend in recent years that people are substituting apartment rentals and vacation home rentals for hotel rooms.

It’s amazing how quickly time flies. 2013 will be “in the books” before we know it, and looking back, I believe we can sum it up in a word…

DANG!

The Boom Days have arrived.

Break out your shades. The future is soooo bright, you’re going to need ’em.

 

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