Vacation Rental Market in Europe 2018-2022
About Vacation Rental
A vacation rental is an alternate lodging option for short-term rental of myriad properties such as farm stays, apartments, cabins, private homes, villas, cottages, beach houses, or chalets to travelers and tourists. These dwelling units are offered on a monthly, weekly, and nightly basis although the dominant practice in the market is renting it out weekly.
Technavio’s analysts forecast the vacation rental market in Europe to grow at a CAGR of 8.14% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the vacation rental market in Europe for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Vacation Rental Market in Europe 2018-2022
Technavio recognizes the following companies as the key players in the vacation rental market in Europe: 9flats, Airbnb, Expedia, and FlipKey.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increase in merger and acquisition of various companies. The increase in merger and acquisition among companies is trending in the market. The well-established companies are acquiring the start-ups to increase their presence. Through mergers and acquisitions, the companies not only acquire the stake but also acquire the existing customers. As small companies are not as competitive as large companies, in terms of providing the rentals, well-established companies have a higher power in terms of listing of vacation rental houses.”
According to the report, one driver in the market is increase in number of tourists in Europe. The increase in the number of tourists across Europe is driving the market for vacation rental market in Europe. Tourism is the third largest socio-economic activity in the European Union (EU) and makes a significant contribution to the EU's gross national product and employment. In 2016, 616.2 million international tourists were present in Europe.
Further, the report states that one challenge in the market is inconsistency in providing quality vacation rental properties. The inconsistency in providing quality vacation rental properties by vendors is hindering the growth of the vacation rental market in Europe. The vacation rental market in Europe deals with diverse customers from different geographies and thus, must cater to various preferences and seasonal demands. In addition, as the suppliers of vacation rentals are also equally diverse, there is a possibility of high level of inconsistency in quality and service.
9flats, Airbnb, Expedia, and FlipKey.
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