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%.

1 COMMENT

  1. Sadly not everything that counts is always counted. Missing in your “ultimate” list of stats is the total number of vacation rental owners who also listing independently on their own websites and the number of bookings they receive.
    That is not to say they may also list with OTAs or have a PM company. But if you wish to have the ULTIMATE list then this segment of the population should also be valued enough to be included. I would also provide a baseline from which to note upward growth.

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