Vacation Rental Statistics
We have compiled a comprehensive list of vacation rental statistics, including the latest data relating to Covid-19’s impact on the vacation rental industry.
Covid-19 Vacation Rental Statistics
United States Vacation Rental 2021 Update
– In Q1 of 2021, the U.S. hit a new booking record each month until April 2021 when demand surpassed 2019 levels. (AirDNA)
– In April 2021, U.S. short-term rental occupancy hit an all-time high of 61.6% (AirDNA)
– In April 2021, the occupancy rate recovery varied widely by market type vs. 2019 – 67% more in small cities/rural markets, 25% more in destination/resort markets, 8% growth in mid-sized cities, 13% decrease is suburban markets, and a 41% decline in the 50 largest U.S. cities. (AirDNA)
– AirDNA forecasts two years of elevated vacation rental occupancy as supply lags catching up with increased demand. (AirDNA)
– Short-term rental ADR (average daily rate) growth in 2000/0221 as demand shifted to larger non-urban properties. (AirDNA)
– As more urban & small properties return to the short-term rental market, AirDNA projects a decline in ADRs to begin in 2022. (AirDNA)
– 2022 rate contraction still means the average rate will be 7.5% higher than in 2019. (AirDNA)
– Total United States short-term rental revenues will increase by 42% over the four-year period. (AirDNA)
– In most U.S. markets demand growth is outstripping supply growth, despite new campaigns from Airbnb and Vrbo. (AirDNA)
– As of May, ~52K new units have been added on either Airbnb or Vrbo in 2021. (AirDNA)
– The average unique available listings count on Airbnb and Vrbo is expected to increase by 20.5% in 2022 to over 1.3 million listings (AirDNA)
– By mid-May, demand in small cities and destination markets is already up 40% over the same time period in 2019. (AirDNA)
Vacation Rental Management Companies
Vacation Rental Company Market Size
– 25,000 Vacation Rental Companies in the United States (Hostfully – 2021)
– 9,679 Vacation Rental Management Companies in Mexico (Hostfully – 2021)
– 2,896 Vacation Rental Management Companies in Canada (Hostfully – 2021)
– 37,575 Vacation Rental Management Companies in North America (Hostfully – 2021)
– 78,683 Vacation Rental Management Companies in Europe (Hostfully – 2021)
– 24,415 Vacation Rental Management Companies outside of Europe & North America (Hostfully – 2021)
– 140,674 Vacation Rental Companies Worldwide (Hostfully – 2021)
– Average Number of rental properties managed by a United States vacation rental company: 75 (Hostfully – 2021)
– Number of professionally managed vacation rental properties in the Unites States: 1.98 million (Hostfully – 2021)
– 9% of professional vacation rental managers manage 1-4 properties (Rentals United)
– 10% of professional vacation rental managers manage 5-9 properties (Rentals United)
– 12% of professional vacation rental managers manage 10-19 properties (Rentals United)
– 15% of professional vacation rental managers manage 20-29 properties (Rentals United)
– 7% of professional vacation rental managers manage 30-39 properties (Rentals United)
– 7% of professional vacation rental managers manage 40-49 properties (Rentals United)
– 17% of professional vacation rental managers manage 50-99 properties (Rentals United)
– 12% of professional vacation rental managers manage 100-199 properties (Rentals United)
– 6% of professional vacation rental managers manage 200-499 properties (Rentals United)
– 2% of professional vacation rental managers manage 500-1,000 properties (Rentals United)
– 3% of professional vacation rental managers manage 1,000+ properties (Rentals United)
Vacation Rental Company Listing Practices (OTA Usage)
– Average # of OTAs used by Vacation Rental Companies with 51-250 properties: 2.6 (Rentivo).
– Average # of OTAs used by Vacation Rental Companies with 251-1,000 properties: 4.3 (Rentivo).
– Average # of OTAs used by Vacation Rental Companies with 1,000+ properties: 5.0 (Rentivo).
– In 2018, 75% of vacation rental bookings were made on a booking site like Airbnb, HomeAway, or TripAdvisor (Hostfully).
– Vacation Rental Managers that use instant book on Airbnb increase their bookings by an average of 20% (Guesty).
Vacation Rental Software and Services
– Total of $15.5 billion spent on property management & guest communication software in 2018 (Hostfully).
– Vacation Rental Managers spend an average of 5% of revenue on property management and communication software (Hostfully).
– Vacation Rental Managers spend an average of 8% of revenue on commissions paid to channel managers (Hostfully).
– Vacation Rental Managers spend an average of 10% of revenue on commissions to booking platforms (Hostfully).
Vacation Rental Marketing Statistics
– On average, Vacation Rental Companies earn $44 for every $1 spent on email marketing (HomeAway).
– Vacation Rental Companies increase direct revenue 30% YoY when they upgrade to a modern, mobile friendly booking site like Lodgify (HomeAway).
– 84% of Vacation Rental Companies include a printed guidebook within the property (Hostfully).
– In 2016, 52% of vacation rental bookings came within 30 days of check-in (Bookfull).
– Website visitors spend on average 59 seconds on booking sites (Crazyegg).
Read more about increasing vacation rental direct bookings here.
Vacation Rental Market Data
Global Vacation Rental Market Size
– 2020 Global Vacation Rental Revenue: $49.541 billion (USD) (Statista)
– 2020 Global Vacation Rental Revenue Growth: -41.0% (Statista)
– 2020 Global Vacation Rental Average Revenue per User (Booker) in 2020: $110.40 (Statista)
Top 5 Vacation Rental Markets (Countries)
United States Vacation Rental Market Size
– 2020 Total United States Vacation Rental Revenue: $10.335 billion (USD) (Statista)
– 2020 United States Vacation Rental Revenue Growth: -41.0% (Statista)
– 2020 United States Vacation Rental Average Revenue per User (Booker) in 2020: $293.87 (Statista)
– In 2020 25% of United States Vacation Rental Bookings were offline vs. 75% online (Statista).
– In 2020, 17% of vacation rental bookings were made by individuals 18-24, 32% by ages 25-34, 24% by ages 35-44, 17% by ages 45-54 and 10% by ages 55-64 (Statista).
Vacation Rental Real Estate
– 30% of vacation rental homeowners will rent them as short-term rentals in 2018 (National Association of Realtors).
– 32% of investment homeowners will rent them as short-term rentals in 2018 (National Association of Realtors).
Vacation Rental Guest Statistics
United States Vacation Rental Travel Preferences
– 31% of travelers want to take their pet with them (Vrbo).
– 33% of travelers take trips within 250 miles of their home (Vrbo).
– Instances of short trips (4-7 nights) and long trips (7+ nights) are each down 4% compared to a 8% rise in long weekend trips (Vrbo).
– Demand for larger format rentals like Castles & Estates rose 55% and 25% respectively on HomeAway 2018 (Vrbo).
– 52% of travelers seek out recommendations on social media when planning a trip (Bookfull).
– The top amenity cited by 64% vacation rental travelers for booking a vacation rental is the kitchen (Bookfull).
United States Vacation Rental Segments
– 81% of Gen Z travelers have stayed in a vacation rental like a home or condo (HomeAway)
– 74% of millennial travelers have rented a vacation rental from an online marketplace like Airbnb or HomeAway (Hipmunk).
– 38% of Gen-X travelers have rented a vacation rental from an online marketplace like Airbnb or HomeAway (Hipmunk).
– 20% of Baby Boomers have rented a vacation rental from an online marketplace like Airbnb or HomeAway (Hipmunk).
– There was a 325% increase in growth among travelers with children on Vrbo in 2018 (Vrbo).
Vacation Rental Booking Sites (OTAs) Statistics
Airbnb Statistics
– Airbnb has 100 million users in 191 countries (Lodgify).
– Airbnb has over 4 million listings in 191 countries (Business Insider).
– Airbnb has 640,000 hosts (Lodgify).
Vrbo (HomeAway) Statistics
Trip Advisor Statistics
Vacation Rental Booking Site (OTA) Fees
– Airbnb charges 0-20% service fee to guests and 3-5% transaction fee to hosts.
– Vrbo charges 6-12% service fee to guests and transactions fees of 8% or more to hosts.
– TripAdvisor charges an 8-16% to guests and transaction fees of 3% to hosts.
– Booking.com does not charge guests but charges hosts 10-25%.
– Expedia does not charge guests but charges hosts 15-20%.