Last Updated: March 2019

Vacation Rental Management Companies (VRMCs)

Market Size

  • 23,000 Vacation Rental Companies in the United States (VRMA)
  • 115,000 Vacation Rental Companies Worldwide (VRMA)
  • 70% of Vacation Rental Companies have 1-19 properties (VRMA)
  • 20% of Vacation Rental Companies have 20-99 properties (VRMA)
  • 10% of Vacation Rental Companies have 100+ properties (VRMA)

Listing Properties

  • 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).

Software & 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).

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).

Vacation Rental Market

World-Wide Market

  • Vacation Rental Revenue 2019: $57.669 billion (USD) (Statista)
  • Vacation Rental Revenue Growth 2019: 6.9% (Statista)
  • Projected # Users of Vacation Rentals in 2019: 297.17 million (Statista)
  • User Penetration Rate in 2019: 4.0% (Statista)
  • Average Revenue per User in 2019: $194.06 (Statista)

Online Vacation Rental Spend in 2019 (Top 5 Markets)

United States Market

  • Vacation Rental Revenue 2019: $14.458 billion (USD) (Statista)
  • Vacation Rental Revenue Growth 2019: 6.4% (Statista)
  • Projected # Users of Vacation Rentals in 2019: 31.88 million (Statista)
  • User Penetration Rate in 2019: 9.7% (Statista)
  • Average Revenue per User in 2019: $453.45 (Statista)

Real Estate

Vacation Rental Travelers

U.S. Travel Preferences

  • 31% of travelers want to take their pet with them (HomeAway).
  • 33% of travelers take trips within 250 miles of their home (HomeAway).
  • 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 (HomeAway).
  • Demand for larger format rentals like Castles & Estates rose 55% and 25% respectively on HomeAway 2018 (HomeAway).
  • 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).

U.S. Travel 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 HomeAway in 2018 (HomeAway).

Vacation Rental Booking Sites

Airbnb

  • 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).

HomeAway/VRBO

  • HomeAway family of sites including VRBO has over 2,000,000 properties in 190 countries (HomeAway).
  • HomeAway family of sites have 44 million site visitors every month (Lodgify).

Trip Advisor

  • TripAdvisor and its 26 sister sites like FlipKey have over 800,000 properties in 190 countries (Lodgify).
  • 340 million travelers use TripAdvisor every month (Lodgify).

Vacation Rental Booking Site Fees

  • Airbnb charges 0-20% service fee to guests and 3-5% transaction fee to hosts.
  • HomeAway 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%.

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