Short-term Rental Market

Global Short-term Rental Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Accommodation Type Coverage, By Booking Mode Coverage, By Geographic Coverage and Leading Companies)

Published Date: Sep 2023 | Format: | No. of Pages: 225

Industry: Consumer Goods & Services


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Global Short-term Rental Market Forecast

  • Global short-term rental market set to experience an impressive CAGR of 20% during 2023 - 2030
  • Market valuation likely to hit the US$15 Bn mark by the end of 2030

Market Analysis in Brief

The short-term rental market refers to a sector of the real estate market where residences like apartments, homes, or vacation homes are rented out temporarily for brief periods. Short-term rentals are typically rented for days, weeks, or a few months at most, in contrast to standard long-term rentals, which normally include six months or more lease agreements. The need for alternative lodging is rising due to increased global tourism and travel. Short-term rentals provide many possibilities, from small flats in bustling cities to magnificent villas in picturesque places, for travelers looking for distinctive and genuine experiences.

The short-term rental legal environment can be complicated and is always changing. Planning regulations, leasing agreements, and homeowner association guidelines may present legal difficulties for property owners. In addition, tax laws governing short-term rentals may be complex or burdensome, making it difficult for hosts to follow them. The market for short-term rentals is wider than conventional apartments or homes. There is potential for increasing the selection by including unique vacation homes, glamping locations, treehouses, houseboats, and other cutting-edge lodgings catering to various tastes and interests.

Key Report Findings

  • The global short-rerm rental market will expand at a significant rate of around 20% CAGR between 2023 and 2030.
  • The demand for short-term rental is rising due to the rising popularity of transformational travel.
  • Demand for home rentals remains higher in the short-term rental market.
  • The online booking mode category held the highest short-term rental market revenue share in 2022.
  • North America will continue to lead its way, whereas the Asia Pacific short-term rental market will experience the strongest growth till 2030.

Growth Drivers

Increasing Interestments in Renting out Vacation Homes

The short-term rental market is increasing mainly due to consumers growing preference for holiday rental homes. Modern vacationers, particularly millennials and members of gen Z, look for authentic and unique visitor experiences. Vacation rental homes like lovely cottages, opulent villas, or unique lodgings like treehouses or yurts cater to this desire for novelty and adventure.

Compared to regular hotel rooms, vacation rental properties frequently offer more room, privacy, and amenities like those at home. Particularly for families or groups of travelers, fully furnished kitchens, private pools, outside areas, and on-site entertainment alternatives create a more comfortable and laid-back atmosphere. The rise of user-friendly online booking services like Airbnb, Vrbo, and Booking.com has made it simple for travelers to locate and reserve vacation rentals worldwide. These sites increase confidence and make booking easier by providing thorough property listings, reviews, and safe payment choices.

The rising popularity of weekends and quick getaways increases the demand for vacation rental homes. Vacation rentals are a desirable lodging choice for these shorter trips because they frequently feature a desire to get away from the usual and discover new places. The demand for vacation rental properties is growing along with the popularity of weekend and quick getaways. Vacation rentals are a popular lodging option for these shorter excursions because they typically involve a desire to venture outside the ordinary and see new areas.

Vacation rental homes are offered in various settings, from busy urban areas to serene rural areas and beachside locales. Travelers have various options to suit their preferences and trip objectives due to this broad range of sites. Property owners have an investing opportunity to turn their houses into short-term rentals due to the rising demand for vacation rentals. This allows them to benefit from the growing popularity of the tourist and travel sector and generate rental income.

Popularity of Transformational Travel

The short-term rental market is expected to increase during the forecast period due to the growing trend of wellness vacations that aim to restore balance and transform the soul, mind, and body. According to a blog post from Hospitality Net, popular vacation activities, including skiing, sightseeing, the beach, sun, and sea, are anticipated to be in high demand.

Additionally, a preference for local travel over overseas travel is anticipated to boost global demand for domestic vacation rental businesses. Authentic experiences that provide visitors a chance to experience local culture and way of life fully are emphasized in transformational travel. Short-term rentals allow visitors to experience a place like a native, encouraging deeper connections and understanding. They are frequently found in residential areas.

Travelers are encouraged to create itineraries based on their interests and passions when they go on transformational trips. Due to their versatility in terms of length and amenities, short-term rentals let guests design custom itineraries suited to their particular requirements. Travel for transformation frequently involves getting in touch with nature and looking for inspiration and renewal.

Short-term lodging in gorgeous and serene areas, like beachside homes or cottages in the woods, give visitors a deeper connection with nature on their life-changing adventure. Transformative travel promotes interaction with the local population, learning from locals, and participating in local customs. Travelers can engage with neighbors and experience daily life by staying in short-term rentals in residential areas, which improves their cultural immersion.

Overview of Key Segments

Home Remains Dominant Accommodation Type

The home segment is expected to dominate the global market during the forecast period. Homes range in size from little cottages to large single-family residences. Compared to apartments, they offer greater privacy and room and frequently have amenities like yards, gardens, and numerous rooms.

Travelers can find lodgings that suit their interests, party size, and desired experiences due to the large range of home accommodation types available on the short-term rental market. These choices' acceptance as viable alternatives to conventional hotels has helped the short-term rental sector grow.

Studio apartments are small homes, often with one room as the living space, bedroom, and kitchenette. They are ideal for single travelers or couples looking for a comfortable and functional place.

Penthouse apartments are frequently found on the highest floors of structures and feature first-rate vistas, luxurious facilities, and luxurious interiors. They are connected with luxury travel encounters. The furnishings, amenities, and services in luxury apartments are of the highest quality. They serve guests looking for premium and luxurious lodging.

Online Booking Category to Experience Strong Demand

The online booking mode segment is expected to be the fastest-growing short-term rental market segment. Technology has simplified things in the short-term rental industry, and businesses seek to meet their client's expectations for a positive experience. There is frequent traffic at short-term rentals and a high turnover rate.

Automation maximises efficiency, improves the traveler experience, and gives businesses a competitive edge in the market by streamlining bookings. Baby boomers and Generation X, the main consumer base, strongly prefer offline booking modes.

Consumers' preference for precise access to housing, recreation, and other benefits is linked to growth. Three factors are primarily influencing the growth of online booking: the demand for real travel experiences, flexibility, and cost-effectiveness. Most tourists on the global market come from Generation X, and baby boomers.

Growth Opportunities Across Regions

North America Maintains Dominance

North America is expected to lead the short- term rental market during the forecast period. The growth of the short-term rental sector has been mostly attributed to consumers' growing preference for holiday rental properties over conventional hotel stays. Vacation rentals may frequently provide the one-of-a-kind and customised experiences that tourists are looking for, which has caused a boom in demand for such homes. The short-term rental business has benefited from the general growth of tourism and travel in North America as more guests prefer alternate lodging options.

The US is also a popular holiday destination that attracts domestic and foreign tourists. The market is growing because short-term rental homes provide various lodging options to suit various preferences and spending limits.

The US is popular for having various travel locations, including vibrant cities, tranquil farmland, and scenic coastline regions. Due to short-term rentals, Travelers can choose to stay in various settings, including downtown flats and cottages in the countryside.

Asia Pacific to Showcase the Fastest Growth

Asia Pacific tourists frequently look for really engaging cultural encounters. These experiences can be improved, and visitors can better grasp the place by staying in a short-term rental home in the neighborhood. The sector's growth has been facilitated by the emergence of vacation rental management businesses and property management services, making it simpler for property owners to manage and sell their homes as short-term rentals.

Furthermore, the cultural festivals and activities that Japan is famous for draw tourists worldwide. Short-term rentals provide attendees and tourists with convenient and adaptable hotel options during these festivals. Short-term rental property hosts frequently provide individualised recommendations for nearby sights to see, undiscovered landmarks to see, and local restaurants to try. Using this information, tourists can design distinctive itineraries that suit their preferences.

Short-term Rental Market: Competitive Landscape

Some of the leading players at the forefront in the Short-Term Rental market space include 9flats.com PTE Ltd., NOVASOL A/S, Airbnb, Inc., Booking Holdings, Inc., Hotelplan Management AG, Expedia Group, Inc., MakeMyTrip Pvt. Ltd., Oravel Stays Pvt. Ltd., Wyndham Destinations, Inc., and TripAdvisor, Inc.

Recent Notable Developments

In May 2023, A short-term rental company called MakeMyTrip Pvt. Ltd. partnered with Microsoft to make travel planning more accessible by bringing voice-assisted booking to Indian languages. A technology stack that provides personalised travel suggestions based on user preferences has been created by combining Azure Cognitive Services and Microsoft Azure OpenAI Service. A larger audience will benefit from more inclusive trip planning and an improved overall experience through this relationship.

In January 2023, The Interhome Group, a fully owned division of the Hotelplan Group, increased its portfolio to include Denmark due to a strategic partnership with Sol og Strand, a Danish vacation rental broker with more than 6,000-holiday homes and apartments.

In July 2022, Planet, a provider of integrated payment services and global technology, purchased Avantio. A provider of software and services for vacation rental management called Avantio is growing its market share in the hospitality industry.

Global Short-term Rental Market is Segmented as Below:

By Accommodation Type

  • Home
  • Apartments
  • Resort/Condominium
  • Others

By Booking Mode

  • Online
  • Offline

By Geographic Coverage

  • North America 
    • U.S.
    • Canada 
  • Europe 
    • Germany
    • U.K.
    • France
    • Italy
    • Turkey
    • Russia
    • Rest of Europe 
  • Asia Pacific 
    • China
    • Japan
    • South Korea
    • India
    • Southeast Asia
    • Rest of Asia Pacific 
  • Latin America 
    • Brazil 
    • Mexico 
    • Argentina
    • Rest of Latin America 
  • Middle East & Africa  
    • GCC 
    • South Africa
    • Egypt
    • Nigeria
    • Rest of the Middle East & Africa 

1. Executive Summary
    1.1. Global Short-Term Rental Market Snapshot
    1.2. Future Projections
    1.3. Key Market Trends
    1.4. Regional Snapshot, by Value, 2022
    1.5. Analyst Recommendations

 

2. Market Overview
    2.1. Market Definitions and Segmentations
    2.2. Market Dynamics
           2.2.1. Drivers
           2.2.2. Restraints
           2.2.3. Market Opportunities
    2.3. Value Chain Analysis
    2.4. Porter’s Five Forces Analysis
    2.5. COVID-19 Impact Analysis
           2.5.1. Supply
           2.5.2. Demand
    2.6. Impact of Ukraine-Russia Conflict
    2.7. Economic Overview
           2.7.1. World Economic Projections
    2.8. PESTLE Analysis

 

3. Global Short-Term Rental Market Outlook, 2018 - 2030
    3.1. Global Short-Term Rental Market Outlook, by Accommodation Type, Value (US$ Bn), 2018 - 2030
           3.1.1. Key Highlights
                 3.1.1.1. Home
                 3.1.1.2. Apartments
                 3.1.1.3. Resort/Condominium
                 3.1.1.4. Others
    3.2. Global Short-Term Rental Market Outlook, by Booking Mode, Value (US$ Bn), 2018 - 2030
           3.2.1. Key Highlights
                 3.2.1.1. Online
                 3.2.1.2. Offline
    3.3. Global Short-Term Rental Market Outlook, by Region, Value (US$ Bn), 2018 - 2030
           3.3.1. Key Highlights
                 3.3.1.1. North America
                 3.3.1.2. Europe
                 3.3.1.3. Asia Pacific
                 3.3.1.4. Latin America
                 3.3.1.5. Middle East & Africa

 

4. North America Short-Term Rental Market Outlook, 2018 - 2030
    4.1. North America Short-Term Rental Market Outlook, by Accommodation Type, Value (US$ Bn), 2018 - 2030
           4.1.1. Key Highlights
                 4.1.1.1. Home
                 4.1.1.2. Apartments
                 4.1.1.3. Resort/Condominium
                 4.1.1.4. Others
    4.2. North America Short-Term Rental Market Outlook, by Booking Mode, Value (US$ Bn), 2018 - 2030
           4.2.1. Key Highlights
                 4.2.1.1. Online
                 4.2.1.2. Offline
           4.2.2. Market Attractiveness Analysis
    4.3. North America Short-Term Rental Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
           4.3.1. Key Highlights
                 4.3.1.1. U.S. Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 4.3.1.2. U.S. Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 4.3.1.3. Canada Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 4.3.1.4. Canada Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
           4.3.2. BPS Analysis/Market Attractiveness Analysis

 

5. Europe Short-Term Rental Market Outlook, 2018 - 2030
    5.1. Europe Short-Term Rental Market Outlook, by Accommodation Type, Value (US$ Bn), 2018 - 2030
           5.1.1. Key Highlights
                 5.1.1.1. Home
                 5.1.1.2. Apartments
                 5.1.1.3. Resort/Condominium
                 5.1.1.4. Others
    5.2. Europe Short-Term Rental Market Outlook, by Booking Mode, Value (US$ Bn), 2018 - 2030
           5.2.1. Key Highlights
                 5.2.1.1. Online
                 5.2.1.2. Offline
           5.2.2. BPS Analysis/Market Attractiveness Analysis
    5.3. Europe Short-Term Rental Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
           5.3.1. Key Highlights
                 5.3.1.1. Germany Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 5.3.1.2. Germany Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 5.3.1.3. U.K. Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 5.3.1.4. U.K. Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 5.3.1.5. France Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 5.3.1.6. France Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 5.3.1.7. Italy Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 5.3.1.8. Italy Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 5.3.1.9. Turkey Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 5.3.1.10. Turkey Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 5.3.1.11. Russia Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 5.3.1.12. Russia Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 5.3.1.13. Rest of Europe Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 5.3.1.14. Rest of Europe Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
           5.3.2. BPS Analysis/Market Attractiveness Analysis

 

6. Asia Pacific Short-Term Rental Market Outlook, 2018 - 2030
    6.1. Asia Pacific Short-Term Rental Market Outlook, by Accommodation Type, Value (US$ Bn), 2018 - 2030
           6.1.1. Key Highlights
                 6.1.1.1. Home
                 6.1.1.2. Apartments
                 6.1.1.3. Resort/Condominium
                 6.1.1.4. Others
    6.2. Asia Pacific Short-Term Rental Market Outlook, by Booking Mode, Value (US$ Bn), 2018 - 2030
           6.2.1. Key Highlights
                 6.2.1.1. Online
                 6.2.1.2. Offline
                 6.2.2. BPS Analysis/Market Attractiveness Analysis
    6.3. Asia Pacific Short-Term Rental Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
           6.3.1. Key Highlights
                 6.3.1.1. China Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 6.3.1.2. China Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 6.3.1.3. Japan Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 6.3.1.4. Japan Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 6.3.1.5. South Korea Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 6.3.1.6. South Korea Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 6.3.1.7. India Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 6.3.1.8. India Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 6.3.1.9. Southeast Asia Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 6.3.1.10. Southeast Asia Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 6.3.1.11. Rest of Asia Pacific Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 6.3.1.12. Rest of Asia Pacific Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
           6.3.2. BPS Analysis/Market Attractiveness Analysis

 

7. Latin America Short-Term Rental Market Outlook, 2018 - 2030
    7.1. Latin America Short-Term Rental Market Outlook, by Accommodation Type, Value (US$ Bn), 2018 - 2030
           7.1.1. Key Highlights
                 7.1.1.1. Home
                 7.1.1.2. Apartments
                 7.1.1.3. Resort/Condominium
                 7.1.1.4. Others
    7.2. Latin America Short-Term Rental Market Outlook, by Booking Mode, Value (US$ Bn), 2018 - 2030
           7.2.1. Key Highlights
                 7.2.1.1. Online
                 7.2.1.2. Offline
                 7.2.2. BPS Analysis/Market Attractiveness Analysis
    7.3. Latin America Short-Term Rental Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
           7.3.1. Key Highlights
                 7.3.1.1. Brazil Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 7.3.1.2. Brazil Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 7.3.1.3. Mexico Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 7.3.1.4. Mexico Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 7.3.1.5. Argentina Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 7.3.1.6. Argentina Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 7.3.1.7. Rest of Latin America Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 7.3.1.8. Rest of Latin America Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
           7.3.2. BPS Analysis/Market Attractiveness Analysis

 

8. Middle East & Africa Short-Term Rental Market Outlook, 2018 - 2030
    8.1. Middle East & Africa Short-Term Rental Market Outlook, by Accommodation Type, Value (US$ Bn), 2018 - 2030
           8.1.1. Key Highlights
                 8.1.1.1. Home
                 8.1.1.2. Apartments
                 8.1.1.3. Resort/Condominium
                 8.1.1.4. Others
    8.2. Middle East & Africa Short-Term Rental Market Outlook, by Booking Mode, Value (US$ Bn), 2018 - 2030
           8.2.1. Key Highlights
                 8.2.1.1. Online
                 8.2.1.2. Offline
                 8.2.2. BPS Analysis/Market Attractiveness Analysis
    8.3. Middle East & Africa Short-Term Rental Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
           8.3.1. Key Highlights
                 8.3.1.1. GCC Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 8.3.1.2. GCC Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 8.3.1.3. South Africa Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 8.3.1.4. South Africa Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 8.3.1.5. Egypt Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 8.3.1.6. Egypt Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 8.3.1.7. Nigeria Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 8.3.1.8. Nigeria Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
                 8.3.1.9. Rest of Middle East & Africa Short-Term Rental Market by Accommodation Type, Value (US$ Bn), 2018 - 2030
                 8.3.1.10. Rest of Middle East & Africa Short-Term Rental Market, by Booking Mode, Value (US$ Bn), 2018 - 2030
           8.3.2. BPS Analysis/Market Attractiveness Analysis

 

9. Competitive Landscape
    9.1. Company Market Share Analysis, 2022
    9.2. Competitive Dashboard
    9.3. Company Profiles
           9.3.1. 9flats.com PTE Ltd.
                 9.3.1.1. Company Overview
                 9.3.1.2. Product Portfolio
                 9.3.1.3. Financial Overview
                 9.3.1.4. Business Strategies and Development
           9.3.2. Expedia Group, Inc.
                 9.3.2.1. Company Overview
                 9.3.2.2. Product Portfolio
                 9.3.2.3. Financial Overview
                 9.3.2.4. Business Strategies and Development
           9.3.3. Booking Holdings, Inc.
                 9.3.3.1. Company Overview
                 9.3.3.2. Product Portfolio
                 9.3.3.3. Financial Overview
                 9.3.3.4. Business Strategies and Development
           9.3.4. Airbnb, Inc.
                 9.3.4.1. Company Overview
                 9.3.4.2. Product Portfolio
                 9.3.4.3. Financial Overview
                 9.3.4.4. Business Strategies and Development
           9.3.5. Hotelplan Management AG
                 9.3.5.1. Company Overview
                 9.3.5.2. Product Portfolio
                 9.3.5.3. Financial Overview
                 9.3.5.4. Business Strategies and Development
           9.3.6. MakeMyTrip Pvt. Ltd.
                 9.3.6.1. Company Overview
                 9.3.6.2. Product Portfolio
                 9.3.6.3. Financial Overview
                 9.3.6.4. Business Strategies and Development
           9.3.7. NOVASOL A/S
                 9.3.7.1. Company Overview
                 9.3.7.2. Product Portfolio
                 9.3.7.3. Financial Overview
                 9.3.7.4. Business Strategies and Development
           9.3.8. Wyndham Destinations Inc.
                 9.3.8.1. Company Overview
                 9.3.8.2. Product Portfolio
                 9.3.8.3. Financial Overview
                 9.3.8.4. Business Strategies and Development
           9.3.9. TripAdvisor, Inc.
                 9.3.9.1. Company Overview
                 9.3.9.2. Product Portfolio
                 9.3.9.3. Financial Overview
                 9.3.9.4. Business Strategies and Development
           9.3.10. Oravel Stays Pvt. Ltd.
                 9.3.10.1. Company Overview
                 9.3.10.2. Product Portfolio
                 9.3.10.3. Financial Overview
                 9.3.10.4. Business Strategies and Development

 

10. Appendix
    10.1. Research Methodology
    10.2. Report Assumptions
    10.3. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2022

 

2018 - 2022

2023 - 2030

Value: US$ Million

  

REPORT FEATURES

DETAILS

Accommodation Type Coverage

  • Home
  • Apartments
  • Resort/Condominium
  • Others

Booking Mode Coverage

  • Online
  • Offline

Geographical Coverage

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of EU
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of APAC
  • Latin America
  • Brazil 
  • Mexico 
  • Rest of Latin America 
  • Middles East & Africa
  • GCC Countries 
  • South Africa 
  • Rest of Middle East & Africa

Leading Companies

  • 9flats.com PTE Ltd.
  • Airbnb, Inc.
  • Hotelplan Management AG
  • Booking Holdings, Inc.
  • Expedia Group, Inc.
  • Wyndham Destinations Inc.
  • MakeMyTrip Pvt. Ltd.
  • TripAdvisor, Inc.
  • NOVASOL A/S
  • Oravel Stays Pvt. Ltd.

Report Highlights

Key Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porters 5 Forces Analysis, Historical Trend (2019-2021), Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain)

FAQs : Short-term Rental Market

The global short-term rental market refers to the industry of renting out accommodations such as homes, apartments, and vacation properties to travelers for brief stays, typically less than 30 days. These rentals are often facilitated through online platforms like Airbnb, Booking.com, and Vrbo.

Travelers prefer short-term rentals for their affordability, flexibility, and the unique experiences they offer. Property owners find it attractive for generating extra income from their properties and maximising their asset utilisation. The market has been projected to witness 20% growth in revenue through 2030, to reach around US$15 billion.

Major players in this market include NOVASOL A/S, Airbnb, Inc., Booking Holdings, Inc., Expedia Group, Inc., MakeMyTrip Pvt. Ltd., and TripAdvisor, Inc.

Demand for home rentals continues to be higher in the short-term rental market. On the other hand, the online booking mode category holds the highest revenue share of the market.

Some of the most popular trends in the market include the increasing popularity of extended stays, the growth of rural and non-urban short-term rentals, the adoption of contactless check-ins, and a focus on sustainability and eco-friendly hosting.

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

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