Wednesday, April 24, 2013

Tripadvisor Annual Vacation Rental Survey

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TripAdvisor, who owns both Flipkey and Holidaylettings, recently announced the results of its fourth annual vacation rentals survey of more than 1,300 U.S. travelers. The survey predicts increasing demand for rental properties and has some useful information for vacation rental owners in how to get the best from their vacation rental property.

1. Increased Demand for Vacation Rentals

    According to the survey, nearly half (49 percent) of respondents have stayed or are planning to stay in a rental home in 2013, up from 46 percent in 2012 and 40 percent in 2011.

2. Vacation Rental or a Hotel?

Respondents cited the following factors as those most likely to sway them toward booking a vacation rental over a hotel:
  1. Savings (82 percent)  
  2. Last-minute deals (82 percent)
  3. Traveling with a large group (19 percent)
  4. More living space (15 percent)
  5. Booking a trip for one week or longer (11 percent)

It is worth emphasising these benefits when promoting your vacation rental to potential guests.

3. Benefits of a Vacation Rental compared with a Hotel

Respondents said they like the following attributes best:

  1. Access to a full kitchen and/or laundry room (31 percent)
  2. More living space (27 percent)
  3. Feels like home (10 percent)
  4. More family-friendly (10 percent)
  5. Low prices (seven percent)
 Again, stressing these points in your marketing / responses to potential renters may help you to attract more guests.

4. Demographics for Vacation Rentals

Families and group travelers are most drawn to rental homes, citing the above benefits as their biggest motivators. Of those surveyed:

  1. Seventy-five percent indicate they have shared a rental home with family on past trips  
  2. Sixty-two percent say they choose to stay in a vacation rental property when they are traveling with family or a large group
  3. When traveling on a family vacation, 89 percent prefer to stay in a vacation rental

  4. 5. Best Luxury Features of Vacation Rentals

    1. Private beach (25 percent)
    2. Amazing view (18 percent)
    3. Private pool (18 percent)
    4. Large outdoor deck/patio (11 percent)
    5. Personal chef (seven percent)

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