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Vacation Rental Market Size - By Property, By Duration of Stay, By Booking Mode, By Location, By Pricing, By Travelers, Growth Forecast 2024 – 2032
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Vacation Rental Market
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Premium Report Details
Base Year: 2023
Companies covered: 20
Tables & Figures: 180
Countries covered: 20
Pages: 260
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Vacation Rental Market Size
The global vacation rental market size was valued at USD 99.6 billion in 2023 and is estimated to register a CAGR of 3.7% between 2024 and 2032. The expansion of the market is fueled by the growing inclination for personalized travel where travelers prefer friendly, non-hotel-like settings. According to data from Booking.com, a travel agency company, published in 2024, over half of 43% of travelers are anticipated to actively pursue eco-friendly vacation rentals as part of their sustainable travel goals.
Smart approaches to technology in vacation rental platforms are also changing the market. AI-powered booking tools, automated property management solutions, and smart home innovations are also improving guest experiences and streamlining property management processes. New trends such as digital nomads and the growing number of remote workers, have also led to increased bookings for extended-stay vacation rentals as flexible work and travel arrangements have gained traction.
Additionally, vacation rental market positioning is becoming stronger with the increasing partnerships and acquisitions between vacation rental services and platforms. For instance, in December 2024, Casago announced that it had teamed up with Vacasa. Together, the two companies combine local property management experience with increased operational assistance to create a sophisticated vacation rental management platform.
Global Vacation Rental Market Trends
Global Vacation Rental Market Analysis
Based on booking mode, the vacation rental market is segmented into online booking and offline booking. Online booking segment dominated the market and accounted for over USD 70 billion in 2023.
Vacation Rental Market Share
Vacation Rental Market Companies
Major players operating in the vacation rental industry include:
Digital booking advancements, along with traveler demand for unique, home-like vacation accommodations, are robustly growing, thus propelling the growth of the vacation rental market. The remote work revolution has already enabled market growth through extended-stay rentals and is now expected to further sustain it. In addition, the use of smart home technologies in vacation rental properties increases guest security, convenience and comfort that makes these properties more attractive compared to traditional hotels.
Regulatory compliance will continue to play an important role in market activities, but local governments and market participants are likely to find a middle ground to maximize the benefits of vacation rentals while mitigating any adverse consequences. There is a clear identification of the direction towards which innovation is headed in the sphere of vacation rentals; the direct booking AI, blockchain, and eco-friendly investments will mark the evolution of its industry. For instance, as per the new guidelines released by the French Government, the country’s 2024 regulations on tax breaks and cap on rentals will be revised to 90 days per annum and compulsory registration of the property with strict penalties for non-compliance.
Vacation Rental Industry News
The global vacation rental market size research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) from 2021 to 2032, for the following segments:
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Market, By Property
Market, By Duration of Stay
Market, By Booking Mode
Market, By Location
Market, By Pricing
Market, By Travelers
The above information is provided for the following regions and countries: