Vacation Rental Industry on the Rise?

What makes the vacation rental market unique? It's consumers! The average vacation rental travel shopper is monetarily stable, well educated, and they take an average of 3-4 leisure trips annually. The vacation rental market represents a 24 billion dollar value. That's 1/5 of hotel room revenue, but only ends up being 8% of the total U.S travel market. So what does the vacation rental industry need to capture more than 8%? Standardization.

Standardization in the sense of streamlining the booking process. The current industry needs to adapt to new technology and welcome what it brings to their business. Did you know a majority of vacation rental companies still process bookings the old fashioned way? Integrated availability in vacation rental websites is essential in order to make the search process more efficient for the travel shopper. Think about when you book a hotel. Everything is based on making it easy for the consumer to access information and aiding the booking process.

I am looking forward to meeting the next generation of technology innovators in the vacation rental industry. Share your thoughts with me.