1/17/2024 0 Comments First key homes nc![]() The short-term vacation rental market is characterized by the presence of limited established players and new entrants. Planning For Success in the Competitive Short-term Vacation Rental Market To capture the emerging opportunities, players are optimizing their sites to lower their bounce rates,”- Says Ronak Shah (Associate Vice President at Future Market Insights).ĭrive Your Business Growth Strategy: Purchase the Report for Key Insights! Key players are projected to find significant opportunities in India and China to expand their reach and gain higher profits. “Market participants are investing in new technologies and properties to attract customers to their sites. In China, the CAGR for the market is expected to be 14.60% through 2034, whereas in Australia, the CAGR is estimated to be 9.70% through 2034.īased on accommodation type, the resorts segment is anticipated to account for a share of 40.40% in 2024.īased on booking mode, the online segment is expected to acquire a share of 59.40% in 2024. ![]() The market is estimated to record a CAGR of 15.70% through 2034. The short-term vacation rental market in India is anticipated to explode over the upcoming decade. The market is expected to attract significant players over the next ten years. The Germany market is projected to expand at a CAGR of 9.20% through 2034. The lower growth rate than its counterparts suggests lower growth opportunities for short-term rental businesses to flourish. The United States short-term vacation rental market is anticipated to register a CAGR of 5.9% through 2034. Key Takeaways from the Short-term Vacation Rental Market Report Additionally, players are offering immediate reservation options, which boosts service differentiation. Additionally, consumer expectations are ever-growing, and the rising demand for real-time bookings is being met by optimized sites via the latest technologies. Get an Exclusive Sample Copy of the Report: Īffordability and comfort associated with short-term rental properties are attracting customers for this type of accommodation. ![]() By leveraging these advancements, operators are boosting their guest experience, fueling revenue growth, and increasing booking rates. Common technological solutions used by operators to enhance the booking experience include online booking platforms, virtual tours, property management software, and augmented reality (AR). Key players are launching innovative solutions and services to improve the experience of guests and streamline operations for property owners. ![]() Additionally, there is an emerging trend of staycations, especially among working professionals, who seek to be at leisure during their vacation. This growth is expected to be driven by an excellent CAGR of 10.80% over the next decade.Īn increasing inclination toward budget-friendly accommodations favors the short-term vacation rental industry. 11, 2023 (GLOBE NEWSWIRE) - The global short-term vacation rental market value is expected to rise from US$ 1,35,258.3 million in 2024 to US$ 3,77,191.2 million by 2034. The North American Short-term Rental market is proliferating due to increasing demand from travelers seeking alternative accommodations to traditional hotels. Key Providers of Short-term Vacation Rentals Expanding their Portfolio of Vacation Homes at Different Locations. Data from securities advisory Green Street reported last week show the expected risk-adjusted return on built-to-rent investments is 8 percent on average, which is higher than the weighted average return of 6.1 percent across 18 different sectors.Future Market Insights Global and Consulting Pvt. The property type has been a boon for investors, too. Built-to-rent homes account for 6 percent of all homes being constructed nationwide, according to the New York Times, and represent the fastest-growing housing sector in the country. The number of built-to-rent homes, essentially constructed as single-family rentals, soared by 30 percent from 2019 to 2020. Single-family rentals are one of the housing market’s hottest sectors. 4, 151 homes in the portfolio are vacant and not leased, while 31 are vacant, but with leases in place. The average age of the homes, meanwhile, is about 20 years old. KBRA data show the average size of the homes in the portfolio is 1,969 square feet. By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |