GITNUX MARKETDATA REPORT 2024

Holiday Rental Industry Statistics

The holiday rental industry is experiencing rapid growth globally, with a projected market value of over $100 billion by 2027.

Highlights: Holiday Rental Industry Statistics

  • The global vacation rental market size was valued at $87.61 billion in 2019.
  • The vacation rental market is expected to reach $113.9 billion by 2027.
  • Around 43% of travelers book their holiday rentals at least a month in advance.
  • Europe has the highest market share in the vacation rental industry, at over 60%.
  • Only 42% of people renting accommodation agree that online rental platforms should be regulated by local governments.
  • There are approximately 6.1 million vacation properties in the U.S. alone.
  • In 2019, Airbnb reported over 150 million active users worldwide.
  • Over 54% of people are more likely to book a holiday rental if they can do so online.
  • In Europe, the United Kingdom has the highest number of property managers in the short-term rental industry, with 22,678.
  • Vacation rentals can accommodate more people than hotels. In the U.S, rentals can accommodate 4.6 people on average compared to hotels, which accommodate 2.6.
  • France leads with the highest number of active Airbnb listings, approximately 485,000.
  • The pandemic saw a decrease of 42% in Airbnb bookings in March 2020.
  • In 2020, stays of more than 28 days represented 15% of nights booked on Airbnb.
  • Vacation rentals can produce over 50% higher returns than residential properties.
  • In 2020, the number of active listings in ten major U.S metropolitan markets decreased by 24.4%.
  • Vacation homes make up about 20% of the total US rental market.
  • The average price per night for an Airbnb in the US is $219.
  • About two-thirds of Airbnb users are more interested in the novelty of a unique home rental than in its price or location.

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The Latest Holiday Rental Industry Statistics Explained

The global vacation rental market size was valued at $87.61 billion in 2019.

The statistic indicates that the global vacation rental market had a total estimated value of $87.61 billion in the year 2019. This figure represents the revenue generated by the vacation rental industry worldwide during that time period. The market size reflects the combined value of all the transactions made by travelers renting vacation properties such as homes, apartments, cabins, or villas for short-term stays. The growth of the vacation rental market can be attributed to factors such as increasing demand for unique and personalized travel experiences, the rise of online booking platforms, and changing consumer preferences towards accommodation options beyond traditional hotels. This statistic provides insight into the significant economic impact and popularity of vacation rentals as a lodging choice for travelers globally.

The vacation rental market is expected to reach $113.9 billion by 2027.

The statistic that the vacation rental market is projected to reach $113.9 billion by 2027 suggests a significant growth trend in the industry. This figure reflects the increasing popularity of vacation rentals as a preferred accommodation choice for travelers, driven by factors such as greater privacy, flexibility, and unique experiences compared to traditional hotels. The expected growth indicates a lucrative opportunity for investors and businesses operating in the vacation rental sector to capitalize on the expanding market demand. Additionally, the forecasted market value serves as a valuable indicator for stakeholders to take strategic decisions in terms of investments, marketing efforts, and operational expansion to capture a share of the growing market.

Around 43% of travelers book their holiday rentals at least a month in advance.

The statistic stating that around 43% of travelers book their holiday rentals at least a month in advance indicates that a significant portion of travelers prefer to secure their accommodation well ahead of their travel dates. This behavior suggests a level of planning and preparedness among these individuals, potentially driven by factors such as availability of preferred lodging options, cost savings through early booking, or simply a desire for peace of mind when it comes to their travel arrangements. The data implies that a sizeable segment of the travel market values timely booking and emphasizes the importance of understanding booking patterns and preferences in the tourism industry.

Europe has the highest market share in the vacation rental industry, at over 60%.

The statistic indicates that Europe holds the dominant position in the vacation rental industry, with a market share exceeding 60%. This implies that the majority of vacation rental properties worldwide are located in Europe. This high market share could be attributed to various factors such as the rich cultural heritage, diverse landscapes, and historical attractions that make Europe a popular destination for travelers. Additionally, the growth of online platforms and technology that facilitate booking and managing vacation rentals may have further contributed to Europe’s strong presence in the industry. The statistic suggests that Europe is a key player in the vacation rental market and remains a top choice for travelers seeking accommodation options.

Only 42% of people renting accommodation agree that online rental platforms should be regulated by local governments.

The statistic indicates that a minority of individuals who rent accommodation, specifically only 42%, believe that online rental platforms should be regulated by local governments. This suggests a lack of consensus among renters on the need for such regulation, with a significant proportion potentially holding differing views on the matter. The statistic points to the complexity and diversity of opinions within the rental market, highlighting the challenges that local governments may face in implementing regulations that satisfy the varying perspectives and interests of renters. Further analysis and understanding of the reasons behind this sentiment among renters could offer valuable insights for policymakers and stakeholders in the rental accommodation sector.

There are approximately 6.1 million vacation properties in the U.S. alone.

The statistic “There are approximately 6.1 million vacation properties in the U.S. alone” indicates the estimated total number of vacation homes located within the United States. These vacation properties are typically owned by individuals or families for the purpose of leisure and recreational activities. This statistic highlights the popularity of vacation home ownership in the U.S., reflecting the nation’s thriving tourism industry and the desire for individuals to have a retreat or secondary residence for vacations. The presence of a significant number of vacation properties also suggests the potential economic impact of this sector on local communities, as vacation homes can contribute to rental income, property tax revenue, and stimulate local businesses and services in popular vacation destinations.

In 2019, Airbnb reported over 150 million active users worldwide.

The statistic ‘In 2019, Airbnb reported over 150 million active users worldwide’ indicates that as of 2019, Airbnb had a significant user base of over 150 million individuals actively using their platform to book accommodation in various locations around the world. This figure highlights the widespread popularity and reach of Airbnb as a leading online marketplace for lodging and travel experiences. The large number of active users suggests that Airbnb is a preferred choice for a substantial portion of travelers seeking alternative accommodations and experiences beyond traditional hotels, showcasing the platform’s impact on the global tourism industry.

Over 54% of people are more likely to book a holiday rental if they can do so online.

The statistic “Over 54% of people are more likely to book a holiday rental if they can do so online” indicates that a majority of individuals express a preference for the convenience and accessibility of booking holiday accommodations through online platforms. This finding suggests that the ability to make reservations online plays a significant role in influencing consumer behavior when it comes to choosing holiday rentals. As online booking platforms continue to gain popularity and offer enhanced features such as user reviews, photos, and real-time availability, the convenience of booking online has become increasingly important in shaping consumer decisions. Businesses in the travel and hospitality industry should consider the implications of this statistic when developing their marketing strategies and investing in their online booking systems to cater to the preferences of a significant portion of potential customers.

In Europe, the United Kingdom has the highest number of property managers in the short-term rental industry, with 22,678.

The statistic indicates that among European countries, the United Kingdom has the largest number of property managers operating within the short-term rental industry, totaling 22,678 individuals. This suggests that the short-term rental market in the UK is relatively large and active, with a significant number of property owners utilizing professional management services to handle their rental properties. The high number of property managers in the UK may reflect a strong demand for short-term rental accommodations, perhaps driven by factors such as tourism, business travel, or changing consumer preferences. This data provides valuable insights into the dynamics and competitiveness of the short-term rental industry in Europe, highlighting the UK’s prominent position in this market segment.

Vacation rentals can accommodate more people than hotels. In the U.S, rentals can accommodate 4.6 people on average compared to hotels, which accommodate 2.6.

The statistic indicates that vacation rentals in the U.S have the capacity to accommodate a higher average number of people, at 4.6 individuals, compared to hotels, which accommodate an average of 2.6 individuals. This suggests that vacation rentals provide more space and flexibility for larger groups or families looking for accommodations. By offering more room for occupants, vacation rentals may appeal to travelers seeking a more home-like environment during their stay, with amenities such as kitchens, living rooms, and multiple bedrooms. This statistic highlights the varying accommodation options available to travelers and underscores the potential benefits of vacation rentals for those seeking lodging for larger groups.

France leads with the highest number of active Airbnb listings, approximately 485,000.

The statistic that France leads with the highest number of active Airbnb listings, approximately 485,000, indicates that France has the largest number of properties available for rental on the Airbnb platform compared to other countries. This suggests that France is a popular destination for both domestic and international travelers looking for accommodation options through Airbnb. The high number of active listings reflects the country’s diverse offerings, ranging from apartments in bustling cities like Paris to charming cottages in rural areas, catering to a wide range of preferences and budgets for travelers exploring France. This statistic highlights the significant presence of Airbnb in the French accommodation market and underscores the country’s attractiveness as a travel destination.

The pandemic saw a decrease of 42% in Airbnb bookings in March 2020.

The statistic indicates that there was a significant 42% decrease in Airbnb bookings in March 2020 compared to the average booking rates before the pandemic. This decline is largely attributed to the global impact of the COVID-19 pandemic, which resulted in travel restrictions, lockdowns, and a general decrease in travel activities worldwide. The substantial drop in Airbnb bookings reflects the sharp decline in tourism and travel demand during this time period. This statistic highlights the severe economic effects of the pandemic on the hospitality industry and emphasizes the challenges faced by accommodation providers like Airbnb in adapting to rapidly changing market conditions.

In 2020, stays of more than 28 days represented 15% of nights booked on Airbnb.

The statistic indicates that in 2020, stays exceeding 28 days accounted for 15% of the total nights booked on Airbnb. This suggests that a significant portion of Airbnb bookings involved longer-term stays, potentially reflecting changes in travel patterns and accommodation preferences, especially during the COVID-19 pandemic when remote work and extended stays in one location became more common. The increasing popularity of longer-term stays on Airbnb could also point towards a shift in consumer behavior towards seeking more spacious and home-like accommodations for extended periods, rather than traditional short-term stays.

Vacation rentals can produce over 50% higher returns than residential properties.

This statistic suggests that investing in vacation rentals, such as Airbnb properties, can yield a return on investment that is more than 50% higher than traditional residential properties. This could be attributed to several factors, including higher nightly rental rates for vacation properties, especially in popular tourist destinations, as well as the potential for consistent occupancy rates throughout the year. Additionally, the flexibility of renting out vacation properties on a short-term basis allows for more control over pricing and management compared to long-term residential rentals. Overall, this statistic indicates that vacation rentals have the potential to be a more lucrative investment option for individuals seeking higher returns in the real estate market.

In 2020, the number of active listings in ten major U.S metropolitan markets decreased by 24.4%.

The statistic implies that in 2020, there was a significant decrease of 24.4% in the number of active listings across ten major U.S metropolitan markets compared to the previous period. This decline suggests a reduction in the availability of properties for sale in these markets, which could be a result of various factors such as economic conditions, changes in consumer behavior, or shifts in the real estate market. The decrease in active listings may have implications for the overall housing market in these metropolitan areas, potentially leading to changes in property prices, supply and demand dynamics, and overall market activity.

Vacation homes make up about 20% of the total US rental market.

The statistic that vacation homes make up about 20% of the total US rental market indicates the proportion of rental properties in the United States that are used primarily for vacation or short-term stays rather than as permanent residences. This suggests that a significant portion of the rental market is dedicated to catering to tourists, travelers, and visitors looking for temporary accommodations. The popularity of vacation homes in the rental market may be driven by factors such as the rise of short-term rental platforms like Airbnb, the growth of the tourism industry, and the desire for unique and personalized lodging experiences. This statistic highlights the diversity and flexibility of the rental market in the US, accommodating different needs and preferences for accommodation beyond traditional long-term rentals.

The average price per night for an Airbnb in the US is $219.

The statistic indicating that the average price per night for an Airbnb in the US is $219 represents the mean value of the prices of Airbnb listings across the entire country. This figure serves as a central point of reference for understanding the typical cost one might expect to pay for a night’s stay in an Airbnb rental in the US. It is derived from collecting and averaging the individual prices of various Airbnb listings, considering factors such as location, property type, amenities, and demand. While the average price provides a general idea of the market, it is important to recognize that individual prices can vary significantly based on specific factors and fluctuations in supply and demand dynamics within different regions and time periods.

About two-thirds of Airbnb users are more interested in the novelty of a unique home rental than in its price or location.

This statistic indicates that around 66.7% of Airbnb users prioritize the novelty and uniqueness of a home rental over factors such as price and location. This suggests that for a significant majority of Airbnb users, the appeal of experiencing a new and distinctive accommodation option is a key driver in their decision-making process. This preference implies that these users are likely seeking out memorable and unconventional accommodations that offer a distinct experiential element, potentially valuing the opportunity to stay in a one-of-a-kind space over more traditional considerations such as cost-effectiveness or proximity to amenities.

Conclusion

After examining the various statistics related to the holiday rental industry, it is evident that this sector is experiencing significant growth and popularity. From the increasing number of vacation rental properties to the rising number of travelers opting for this accommodation option, the industry shows promising opportunities for both property owners and travelers alike. As these trends continue to evolve, it will be crucial for stakeholders in the holiday rental industry to stay informed and adapt to the changing landscape to remain competitive and meet the evolving needs of travelers.

References

0. – https://www.shorttermrentalz.com

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8. – https://www.www.vacasarentals.com

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How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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