The vacation rental market share in Europe will post an incremental growth of USD 29.23 billion, decelerating at a CAGR of 8.18% during the forecast period. The increase in the number of tourists in Europe will offer immense growth opportunities to market vendors. The market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Vacation Rental Market in Europe Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The vacation rental market in Europe is segmented by management (managed by owners and professionally managed) and geography (UK, France, Italy, Spain, and Rest of Europe).
The growth of the vacation rental market size in Europe by the managed by owners segment will be significant during the forecast period. The growth of the segment is attributed to the higher inclination of customers for recurrent stays in the rental places, owing to the personal interaction with the owners.
Factors such as the presence of key players such as Airbnb and Homestay (part of Expedia) and the increase in the tourist visit to places such as Catalonia, Canary Islands, Balearic Islands, Andalusia, and Madrid will facilitate the vacation rental market growth over the forecast period. UK, France, Italy, and Spain are the key markets for vacation rentals in Europe.
The increase in the number of tourists in Europe will directly influence the vacation rental market in Europe. In addition, the adoption of effective promotional strategies is one of the major vacation rental market trends in Europe that will positively impact the market growth. However, factors such as the inconsistency in providing quality vacation rental properties will hamper the vacation rental market growth in Europe.
The market is fragmented due to the presence of several players. Some of the major vacation rental market vendors in Europe are 9flats.com PTE Ltd., Agoda Co. Pte. Ltd., Airbnb Inc., Booking Holdings Inc., Casamundo GmbH, Clickstay Ltd., Expedia Inc., FlipKey, Holiday Lettings, HomeToGo GmbH, Hotels.com, HOUSETRIP LTD., KASA Hotel Collection, KAYAK Software Corp, RedAwning.com Inc., Sonder Holdings Inc., TripAdvisor LLC, Vacasa LLC, and Vrbo
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the vacation rental market in Europe forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the vacation rental market share in Europe.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the vacation rental market in Europe.
Vacation rental industry growth across Europe.