LONDON--(BUSINESS WIRE)--The growth of the tourism industry and the increasing popularity of short-term rental properties are identified as the significant factors that will drive the market’s growth prospects during the next few years. Countries in several regions have witnessed a considerable increase in the number of international tourist arrivals in recent years. Governments across the globe have started to focus on implementing strategies that favor the growth of the global tourism industry. The growth of the tourism industry will subsequently drive the need for vacation rental properties, thereby fueling market growth. Furthermore, this industry research report also presents a competitive analysis of the market by management (managed by owners, and professionally managed), and geography (Americas, APAC, and EMEA).
Competitive vendor landscape
The global vacation rental market is highly competitive with major vendors such as 9flats, Airbnb, Booking Holdings, Expedia, TripAdvisor, and Wyndham Destinations competing based on price, quality, and product/service offerings.
“The vacation rental market is moderately fragmented owing to the presence of several established and regional travel companies leveraging the online or digital medium to provide personalized offers to customers. The market is currently in its growth phase, and as a result, the competitive environment among vacation rental service providers will further intensify in the coming years,” says a senior analyst at Technavio
Top five vacation rental market vendors
9flats
9flats is an online marketplace and hospitality service, which enables people to lease or rent short-term lodging, including vacation rentals, apartment rentals, homestays, hostel beds, and hotel rooms. The company provides rental services along with insurance services to its customers.
Airbnb
Airbnb operates as an online marketplace and hospitality service that facilitates leasing short-term lodging, including holiday cottages, apartments, homestays, hostel beds, and, hotel rooms. Airbnb operates in more than 65,000 cities and 191 countries.
Booking Holdings
Booking Holdings runs its operations through three business segments, Agency revenues, Merchant revenues, and Advertising and other revenues. The company offers two products - Priceline.com and Booking.com. Priceline.com is an American company, which provides airline tickets and hotel stays. The company facilitates the provision of travel services from its suppliers to its clients. Booking.com is based in Amsterdam in the Netherlands. It connects customers to apartments, vacation homes, 5-star luxury resorts, tree houses, and igloos.
Expedia
The company runs its operations through four segments, Core OTA, trivago, Egencia, and HomeAway. The company operates mainly through two brands– HomeAway and trivago. HomeAway is an online marketplace for the vacation rental market. Its portfolio includes vacation rental websites such as HomeAway.co.uk and OwnersDirect.co.uk in the UK, HomeAway.de in Germany, Abritel.fr and Homelidays.com in France, and HomeAway.es and Toprural.es in Spain. trivago is a leading online hotel metasearch platform with websites in 55 countries worldwide.
TripAdvisor
The company runs its operations through two segments, Hotel and Non-hotel. It operates through 5 subsidiaries, FlipKey, HOLIDAY LETTINGS, HOUSETRIP, Niumba, and VacationHomeRentals. The company’s VacationHomeRentals connects customers to 830,000 properties in over 190 countries. It connects customers to a varied range of rental services like private islands and beach houses.
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