Vacation Rental Industry Trend Tracking

Sir Francis Bacon is said to be the man who first noted that knowledge is power (“scientia potentia est”) which rumor has it that he may have said in 1597 while staying in a holiday gîte in the South of France.

Now, while Francis was not specifically talking about lodging commerce, lodging leaders who pay attention to industry trends are much more likely to bring home the Bacon for themselves and their property owners.

At Bookt we always track trend info that comes out on our industry.

For example:

Have you seen the superb Netamix infographic chock full of important rental facts and figures published earlier this year in a Tnooz? There is so much good data in this panel besides the obvious like “value for price” leads the reasons travelers choose rentals.

VRMA published this article just last week which bodes well for the future suggesting that our $85 billion industry “rocket-like trajectory looks to continue”.

By the way – did you ever wonder where the often quoted $85 Billion figure comes from? From a Radius Global Market Research study commissioned by HomeAway that found the vacation rental industry generated $85 billion in 2010 in the United States and Europe.

For the past four years, a London-based company, The Apartment Service, has published a very insightful report on the serviced apartment sector of our industry. All short-term rental managers can learn a great deal from this report which gathers data from 20,000 apartment operators, booking agents and clients worldwide. Click Here for the 2013 Report in PDF format.

Get past reports in this series by clicking here.

There is so much interesting trend data out there on the Travel Industry. Just this morning a fascinating report on the Baby Boomer Travel Dollar came in. While written with the Travel Agent in mind, it contains a treasure trove of info suggesting that it will be 30 more years before the Boomers stop renting holiday homes. Read all about it right here.

Are you really serious about trend tracking in our industry? Then consider investing $995US for PhoCusWright ‘s “U.S. Vacation Rentals 2009 – 2014: A Market Reinvented” report.  If you want to be in that top travel tier, you should also consider the 3-day PhoCusWright Travel Innovation Summit which starts on November 19th and convenes just minutes from Bookt’s Headquarters in Hollywood Florida where InstaManagers and both old and new friends are always welcome.

Yes — knowledge is power and being on top of things will help you bring home the bacon. Looking for some tips on how best to stay on top of things?  Why not join a LinkedIn Group or several (like the Group for InstaManager).  Next, you should definitely think of yourself as a member of the global travel community — not just short-term rentals.  Case and point: this excellent article on Skift that came out just yesterday on Content Marketing Trends. Don’t pigeonhole yourself; expand your reach and knowledge that is power.

About Bookt
Bookt is a leader in cloud based services for the lodging industry. Our vacation rental manager clients, called InstaManagers, compete on 6 Continents and in 85+ Countries with Millions of Vacation Rental Nights Booked via the InstaManager system. Our cloud based platform directly drives revenue, manages resources, and provides business control for savvy lodging companies worldwide. Check out these User Reviews from global InstaManagers. For more information please contact info@bookt.com or visit InstaManager.com.

One comment on “Vacation Rental Industry Trend Tracking
  1. T. Haines says:

    It’s really interesting to know the history and innovation of travel industry as well as renting holiday homes. Thanks for this post=)

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