GITNUX MARKETDATA REPORT 2024

Vacation Rental Industry Statistics [Fresh Research]

Statistic 1

"The global vacation rental market size was valued at $87.09 billion in 2019."

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Statistic 2

"In 2019, the U.S vacation rental market was worth $17.1 billion."

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Statistic 3

"The CAGR (compound annual growth rate) for the vacation rental industry between 2020 and 2027 is 5.4%."

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Statistic 4

"In 2018, 36% of people in the U.S. stayed in a vacation rental property."

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Statistic 5

"The average revenue per user (ARPU) in the vacation rental industry in the U.S is expected to reach $385.81 in 2022."

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Statistic 6

"Europe is the largest vacation rental market, accounting for 60% of the total market in 2021."

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Statistic 7

"In 2021, the urban segment accounted for covering 71.1% of the vacation rental market."

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Statistic 8

"88% of millennials prefer staying in vacation rentals to traditional hotels."

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Statistic 9

"In 2021, apartments constituted the largest share in vacation rental market, around 71.1%."

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Statistic 10

"In 2021, the vacation rental market penetration rate in the U.S. was 19.7%."

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Statistic 11

"The average daily rate (ADR) for vacation rentals in the U.S. increased by 17.5% in 2020."

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Statistic 12

"In 2019, the average occupancy rate for vacation rental properties in the U.S. was about 56.6%."

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Statistic 13

"The average trip length for people staying in vacation rentals in 2019 was 6.8 nights."

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Statistic 14

"In 2021, about 74% of vacation rental owners use online travel agencies (OTAs) to promote their properties."

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Statistic 15

"In 2021, North America had a total of around 1.1 million active vacation rental listings."

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Statistic 16

"87% of travelers who book vacation rentals believe that online ratings and reviews are essential."

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Statistic 17

"In 2022, the expected number of short-term rental platform users worldwide is approximately 490.2 million."

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