Vacation Rental Market Size, Trends, and Insights By Accommodation Type (Home, Resort/Condominium, Apartments), By Booking Mode (Online, Offline), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Europe |
| Largest Market: | Asia Pacific |
Major Players
- 9flats
- Booking.com
- Hotelplan Management AG
- MAKEMYTRIP PVT. LTD.
- OYO Hotels & Homes
- Trivago
Reports Description
According to Custom Market Insights (CMI), the Global Vacation Rental Market size was estimated at USD 92.53 Billion in 2021 and is expected to reach USD 117.47 billion in 2022 and is expected to hit around USD 317.76 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 13.97% from 2022 to 2030.
The vacation rental market’s drivers and restraints are examined from all angles in our study report, along with how they will affect demand over the forecast period. Also, the report examines global opportunities and competitive analysis for the Vacation Rental market.
- More people are looking for methods to cut trip costs as the economy expands. Visit vacation rental homes is one possibility. As more and more guests seek more accessible and economical lodgings, this sector has experienced phenomenal growth in recent years.
- The fast-expanding vacation rental industry is due to a number of factors. The demand for uncommon vacation spots that are not offered nationally is expanding, to start with. This is especially true for tourists who seek to immerse themselves in the local culture. In addition, there is a growing trend for consumers to choose local accommodations over out-of-town searches for holiday rental properties.
- Vacation rentals had significant growth even before the pandemic because travellers wanted to escape the hustle and bustle of daily life. The Covid epidemic started slowly, but the demand for holiday rentals soon skyrocketed. During the Covid Pandemic’s peak, the vacation rental industry’s occupancy fell to fewer than 10%, and many businesses were forced to close because of a lack of funding and unforeseen events.
- The situation, however, drastically changed in 2021 as people sought escape and discovered that, despite the challenging circumstances in some regions of the world, the availability of rentals made it possible to take a journey that fit their needs.
Report Scope
The study’s focus is on the Vacation Rental market analysis on a global scale, and market sizing includes the income generated by these solutions provided by different market players. In order to support the market projections and growth rates over the anticipated period of 2022-2030, the study additionally monitors important market factors, underlying growth influencers, and significant vendors active in the sector. The study also examines how COVID-19 has affected the ecology generally. The scope of the study includes market sizing and forecast for segmentation by accommodation type, booking mode, and geography.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 92.53 Billion |
| Projected Market Size in 2030 | USD 317.76 Billion |
| Market Size in 2022 | USD 117.47 Billion |
| CAGR Growth Rate | 13.97 % CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Accommodation Type, Booking Mode, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Market Dynamics
- With short-term rentals becoming increasingly popular, the holiday rental market is poised for fast expansion. If you intend to enter the industry, you should be aware of the problems and trends that come with this expansion.
- In an effort to limit the variety and quantity of houses on their streets, municipalities are beginning to regulate short-term rentals on a more frequent basis. As a result, businesses in this industry have difficulties because they must adhere to complicated rules.
- Many enterprises in the global vacation rental industry have only recently started operations and currently occupy a small market share; as a result, they are still figuring out how to operate in this brand-new market. As they develop, this may result in mistakes and roadblocks that could harm their reputation and derail their business plan.
- People’s expectations of vacation rentals are evolving as they grow increasingly accustomed to renting houses through websites like VRBO and Airbnb. In order to continue providing the goods and services your client demands, businesses that want to capitalize on this trend must spend a lot of money.
- There are extra rental properties available for short-term rentals that aren’t being used for vacation rentals in major cities like New York, San Francisco, and London. This frequently results in price increases and makes it challenging for businesses that offer vacation rental brands to boost their revenue.
Europe Region Led the Vacation Rental Market
- The largest tourism industry in the world and the region with the largest market share for holiday rentals are both in Europe. Millions of visitors from worldwide visit its shores each year in quest of sun, sand, and water. And with so many visitors, there is a huge demand for rental housing.
- Finding a place to stay in Europe has become simpler than ever in recent years, owing to the growth of Airbnb. However, landlords can now charge whatever they want for their houses, which has also caused a dramatic increase in rent prices. This is particularly true in well-known tourist locations, such as Barcelona, Paris, and Amsterdam, where rents have skyrocketed to absurdly high levels.
- Of course, not everyone can afford to spend this much on a vacation property. Because of this, an increasing number of individuals are opting to camp or stay in hostels. These choices may be less pleasant than apartments, but they are far less expensive.
- Europe’s tourism sector is increasing, and there is a significant demand for rental housing. This is due to a variety of factors, including the presence of some of the most well-liked tourist locations in the world in Europe. Each year, a large number of people travel to Europe to take in its rich history, culture, and scenic beauty. There are plenty of rental housing possibilities because there is such a high demand for it. Customers will be able to locate something that fits their needs and budget, whether they’re seeking a modest apartment in Paris or a roomy house in Italy.
- Whether travellers want to experience the hopping nightlife of major cities or explore ancient ruins, the European vacation rental industry has something for everyone. Europe is one of the most popular travel destinations year after year since there is so much to see and do there.
Competitive Landscape
There are both big and small competitors in the vacation rental sector, and there is fierce competition among them. Regional vendors, however, find it difficult to compete in regard to quality and technology as global competitors increase their market reach and infrastructure. With a surge in product service extensions and technical breakthroughs, the competitive situation in the vacation rental market is projected to intensify even further.
Vendors are implementing numerous mobile and social media advertising techniques while aiming to include an exceptional user experience. To serve a variety of customer segments, major businesses are extending their vacation rental offers in both urban and rural areas.
- 2022: Meredith Lodging intended to acquire Mt Hood Vacation Rentals in order to increase its presence in the Mount Hood area.
- 2021: Getaroom was acquired by Booking Holdings Inc. from Court Square Capital Partners for USD 1.2 billion. The brand wants to raise the value of its pipeline with this acquisition.
Prominent Players:
- 9flats
- Booking.com
- Hotelplan Management AG
- MAKEMYTRIP PVT. LTD.
- OYO Hotels & Homes
- Trivago
- Agoda Company Pte. Ltd.
- Yatra Online Private Limited
- Hotwire, Inc.
- HotelsCombined
- Hotels.com
- BookingBuddy.com, Inc.
- priceline.com LLC
- KAYAK
- Airbnb Inc.
- Booking Holdings Inc.
- Hotelplan Holding AG
- MakeMyTrip Pvt. Ltd.
- Expedia Group Inc.
- NOVASOL AS
- Oravel Stays Pvt. Ltd.
- Wyndham Destinations Inc.
- TripAdvisor Inc.
- Others
The global Vacation Rental market is segmented as follows:
By Accommodation Type
- Home
- Resort/Condominium
- Apartments
- Hometown
- Villas
By Booking Mode
- Online
- Offline
- Others
By Price Point
- Economic
- Mid Range
- Luxury
By Location Type
- Resort Area
- Rural Area
- Small Town
- Others
By End User Generation
- Gen Z
- Millennials
- Gen X
- Boomers
By Region
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Vacation Rental Market, (2022 – 2030) (USD Billion)
- 2.2 Global Vacation Rental Market : snapshot
- Chapter 3. Global Vacation Rental Market – Industry Analysis
- 3.1 Vacation Rental Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Rising awareness among travelers regarding the availability of vacation rental services
- 3.2.2 The rising tourism activities by the millennials
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Accommodation Type
- 3.7.2 Market attractiveness analysis By Booking Mode
- Chapter 4. Global Vacation Rental Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Vacation Rental Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Vacation Rental Market – Accommodation Type Analysis
- 5.1 Global Vacation Rental Market overview: By Accommodation Type
- 5.1.1 Global Vacation Rental Market share, By Accommodation Type, 2021 and 2030
- 5.2 Home
- 5.2.1 Global Vacation Rental Market by Home, 2022 – 2030 (USD Billion)
- 5.3 Resort/Condominium
- 5.3.1 Global Vacation Rental Market by Resort/Condominium, 2022 – 2030 (USD Billion)
- 5.4 Apartments
- 5.4.1 Global Vacation Rental Market by Apartments, 2022 – 2030 (USD Billion)
- 5.1 Global Vacation Rental Market overview: By Accommodation Type
- Chapter 6. Global Vacation Rental Market – Booking Mode Analysis
- 6.1 Global Vacation Rental Market overview: By Booking Mode
- 6.1.1 Global Vacation Rental Market share, By Booking Mode, 2021 and 2030
- 6.2 Online
- 6.2.1 Global Vacation Rental Market by Online , 2022 – 2030 (USD Billion)
- 6.3 Offline
- 6.3.1 Global Vacation Rental Market by Offline, 2022 – 2030 (USD Billion)
- 6.1 Global Vacation Rental Market overview: By Booking Mode
- Chapter 7. Vacation Rental Market – Regional Analysis
- 7.1 Global Vacation Rental Market Regional Overview
- 7.2 Global Vacation Rental Market Share, by Region, 2021 & 2030 (USD Billion)
- 7.3. North America
- 7.3.1 North America Vacation Rental Market, 2022 – 2030 (USD Billion)
- 7.3.1.1 North America Vacation Rental Market, by Country, 2022 – 2030 (USD Billion)
- 7.3.1 North America Vacation Rental Market, 2022 – 2030 (USD Billion)
- 7.4 North America Vacation Rental Market, by Accommodation Type, 2022 – 2030
- 7.4.1 North America Vacation Rental Market, by Accommodation Type, 2022 – 2030 (USD Billion)
- 7.5 North America Vacation Rental Market, by Booking Mode, 2022 – 2030
- 7.5.1 North America Vacation Rental Market, by Booking Mode, 2022 – 2030 (USD Billion)
- 7.6. Europe
- 7.6.1 Europe Vacation Rental Market, 2022 – 2030 (USD Billion)
- 7.6.1.1 Europe Vacation Rental Market, by Country, 2022 – 2030 (USD Billion)
- 7.6.1 Europe Vacation Rental Market, 2022 – 2030 (USD Billion)
- 7.7 Europe Vacation Rental Market, by Accommodation Type, 2022 – 2030
- 7.7.1 Europe Vacation Rental Market, by Accommodation Type, 2022 – 2030 (USD Billion)
- 7.8 Europe Vacation Rental Market, by Booking Mode, 2022 – 2030
- 7.8.1 Europe Vacation Rental Market, by Booking Mode, 2022 – 2030 (USD Billion)
- 7.9. Asia Pacific
- 7.9.1 Asia Pacific Vacation Rental Market, 2022 – 2030 (USD Billion)
- 7.9.1.1 Asia Pacific Vacation Rental Market, by Country, 2022 – 2030 (USD Billion)
- 7.9.1 Asia Pacific Vacation Rental Market, 2022 – 2030 (USD Billion)
- 7.10 Asia Pacific Vacation Rental Market, by Accommodation Type, 2022 – 2030
- 7.10.1 Asia Pacific Vacation Rental Market, by Accommodation Type, 2022 – 2030 (USD Billion)
- 7.11 Asia Pacific Vacation Rental Market, by Booking Mode, 2022 – 2030
- 7.11.1 Asia Pacific Vacation Rental Market, by Booking Mode, 2022 – 2030 (USD Billion)
- 7.12. Latin America
- 7.12.1 Latin America Vacation Rental Market, 2022 – 2030 (USD Billion)
- 7.12.1.1 Latin America Vacation Rental Market, by Country, 2022 – 2030 (USD Billion)
- 7.12.1 Latin America Vacation Rental Market, 2022 – 2030 (USD Billion)
- 7.13 Latin America Vacation Rental Market, by Accommodation Type, 2022 – 2030
- 7.13.1 Latin America Vacation Rental Market, by Accommodation Type, 2022 – 2030 (USD Billion)
- 7.14 Latin America Vacation Rental Market, by Booking Mode, 2022 – 2030
- 7.14.1 Latin America Vacation Rental Market, by Booking Mode, 2022 – 2030 (USD Billion)
- 7.15. The Middle-East and Africa
- 7.15.1 The Middle-East and Africa Vacation Rental Market, 2022 – 2030 (USD Billion)
- 7.15.1.1 The Middle-East and Africa Vacation Rental Market, by Country, 2022 – 2030 (USD Billion)
- 7.15.1 The Middle-East and Africa Vacation Rental Market, 2022 – 2030 (USD Billion)
- 7.16 The Middle-East and Africa Vacation Rental Market, by Accommodation Type, 2022 – 2030
- 7.16.1 The Middle-East and Africa Vacation Rental Market, by Accommodation Type, 2022 – 2030 (USD Billion)
- 7.17 The Middle-East and Africa Vacation Rental Market, by Booking Mode, 2022 – 2030
- 7.17.1 The Middle-East and Africa Vacation Rental Market, by Booking Mode, 2022 – 2030 (USD Billion)
- Chapter 8. Company Profiles
- 8.1 Airbnb Inc.
- 8.1.1 Overview
- 8.1.2 Financials
- 8.1.3 Product Portfolio
- 8.1.4 Business Strategy
- 8.1.5 Recent Developments
- 8.2 9flats.com Pte Ltd.
- 8.2.1 Overview
- 8.2.2 Financials
- 8.2.3 Product Portfolio
- 8.2.4 Business Strategy
- 8.2.5 Recent Developments
- 8.3 Booking Holdings Inc.
- 8.3.1 Overview
- 8.3.2 Financials
- 8.3.3 Product Portfolio
- 8.3.4 Business Strategy
- 8.3.5 Recent Developments
- 8.4 Hotelplan Holding AG
- 8.4.1 Overview
- 8.4.2 Financials
- 8.4.3 Product Portfolio
- 8.4.4 Business Strategy
- 8.4.5 Recent Developments
- 8.5 MakeMyTrip Pvt. Ltd.
- 8.5.1 Overview
- 8.5.2 Financials
- 8.5.3 Product Portfolio
- 8.5.4 Business Strategy
- 8.5.5 Recent Developments
- 8.6 Expedia Group Inc.
- 8.6.1 Overview
- 8.6.2 Financials
- 8.6.3 Product Portfolio
- 8.6.4 Business Strategy
- 8.6.5 Recent Developments
- 8.7 NOVASOL AS
- 8.7.1 Overview
- 8.7.2 Financials
- 8.7.3 Product Portfolio
- 8.7.4 Business Strategy
- 8.7.5 Recent Developments
- 8.8 Oravel Stays Pvt. Ltd.
- 8.8.1 Overview
- 8.8.2 Financials
- 8.8.3 Product Portfolio
- 8.8.4 Business Strategy
- 8.8.5 Recent Developments
- 8.9 Wyndham Destinations Inc.
- 8.9.1 Overview
- 8.9.2 Financials
- 8.9.3 Product Portfolio
- 8.9.4 Business Strategy
- 8.9.5 Recent Developments
- 8.10 TripAdvisor Inc.
- 8.10.1 Overview
- 8.10.2 Financials
- 8.10.3 Product Portfolio
- 8.10.4 Business Strategy
- 8.10.5 Recent Developments
- 8.1 Airbnb Inc.
List Of Figures
Figures No 1 to 19
List Of Tables
Tables No 1 to 52
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
|
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|
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Prominent Players
- 9flats
- Booking.com
- Hotelplan Management AG
- MAKEMYTRIP PVT. LTD.
- OYO Hotels & Homes
- Trivago
- Agoda Company Pte. Ltd.
- Yatra Online Private Limited
- Hotwire, Inc.
- HotelsCombined
- Hotels.com
- BookingBuddy.com, Inc.
- priceline.com LLC
- KAYAK
- Airbnb Inc.
- Booking Holdings Inc.
- Hotelplan Holding AG
- MakeMyTrip Pvt. Ltd.
- Expedia Group Inc.
- NOVASOL AS
- Oravel Stays Pvt. Ltd.
- Wyndham Destinations Inc.
- TripAdvisor Inc.
- Others
FAQs
“Europe” region will lead the global Vacation Rental market during the forecast period 2022 to 2030.
The key factors driving the market are rising awareness among travelers regarding the availability of vacation rental services and the rising tourism activities by the millennials are the major drivers of the vacation rental market.
The global Vacation Rental market is expanding growth with a CAGR of approximately 18% during the forecast period (2022 to 2030).
The global Vacation Rental market size was valued at USD 23 Billion in 2021 and it is projected to reach around USD 112 Billion by 2030.