Global Short-term Vacation Rental Market Size Study, by Accommodation Type (Home, Apartments, Resort/Condominium), by Booking Mode (Online/Platform-based, Offline), and Regional Forecasts 2022-2032

Description

The global short-term vacation rental market is valued at approximately USD 120.75 billion in 2023 and is poised to grow at an impressive compound annual growth rate (CAGR) of 11.40% over the forecast period 2024-2032. This market has gained remarkable traction as travelers increasingly seek flexible, cost-efficient, and personalized lodging options. With its ability to offer unique accommodations tailored to individual preferences, short-term vacation rentals have emerged as a preferred choice for tourists and business travelers alike. The proliferation of digital platforms and booking apps has further revolutionized this industry, simplifying the discovery and booking of vacation homes, apartments, and resorts.

The rising trend of remote work and digital nomadism has significantly fueled the demand for short-term rentals, enabling travelers to combine leisure and professional commitments seamlessly. Moreover, the market's expansion is bolstered by the growing popularity of experiential travel, where tourists prioritize authentic and localized experiences over conventional hotel stays. Despite the promising growth trajectory, challenges such as regulatory restrictions, safety concerns, and intense competition among service providers pose hurdles. However, advancements in platform technologies, enhanced marketing strategies, and the adoption of sustainable practices present lucrative opportunities for market players to address these challenges effectively.

Regionally, North America leads the global short-term vacation rental market, driven by robust infrastructure, a high number of business and leisure travelers, and the widespread acceptance of vacation rental platforms. Europe follows closely, with countries like France, Spain, and Italy serving as hotspots for vacationers. Meanwhile, the Asia-Pacific region is expected to witness the fastest growth during the forecast period, propelled by an expanding middle-class population, rising disposable incomes, and the growing adoption of digital platforms in countries such as China, India, and Japan. Latin America and the Middle East & Africa are also experiencing burgeoning interest in short-term vacation rentals, driven by increasing tourism investments and heightened consumer awareness.

Major market players included in this report are:

Airbnb, Inc.
Booking Holdings Inc.
Vrbo (Expedia Group, Inc.)
TripAdvisor, Inc.
Sonder Holdings Inc.
Vacasa, Inc.
The Plum Guide Ltd.
Marriott International, Inc.
Agoda Company Pte. Ltd.
TurnKey Vacation Rentals, Inc.
9flats GmbH
Tujia.com
OYO Homes & Hotels
HomeAway
Wimdu GmbH

The detailed segments and sub-segment of the market are explained below:

By Accommodation Type:

Home
Apartments
Resort/Condominium

By Booking Mode:

Online/Platform-based
Offline

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia Pacific

Latin America:

Brazil
Mexico
Rest of Latin America

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical Year: 2022
Base Year: 2023
Forecast Period: 2024 to 2032

Key Takeaways:

Market estimates and forecasts for 10 years, from 2022 to 2032.
Annualized revenue analysis across regional and segment-specific levels.
In-depth insights into the competitive landscape with profiles of major players.
Comprehensive analysis of emerging trends, challenges, and opportunities.
Strategic recommendations to navigate the evolving market landscape.

Chapter 1. Global Short-term Vacation Rental Market Executive Summary

1.1. Global Short-term Vacation Rental Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Accommodation Type
- 1.3.2. By Booking Mode
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Short-term Vacation Rental Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Short-term Vacation Rental Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Demand for Flexible and Personalized Accommodations
- 3.1.2. Growth in Remote Work and Digital Nomadism
- 3.1.3. Rise of Experiential and Authentic Travel Experiences
3.2. Market Challenges
- 3.2.1. Regulatory Restrictions and Compliance Issues
- 3.2.2. Safety Concerns and Quality Assurance
3.3. Market Opportunities
- 3.3.1. Advancements in Platform Technologies
- 3.3.2. Enhanced Marketing Strategies
- 3.3.3. Adoption of Sustainable and Eco-friendly Practices

Chapter 4. Global Short-term Vacation Rental Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Short-term Vacation Rental Market Size & Forecasts by Accommodation Type 2022-2032

5.1. Segment Dashboard
5.2. Global Short-term Vacation Rental Market: Accommodation Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Home
- 5.2.2. Apartments
- 5.2.3. Resort/Condominium

Chapter 6. Global Short-term Vacation Rental Market Size & Forecasts by Booking Mode 2022-2032

6.1. Segment Dashboard
6.2. Global Short-term Vacation Rental Market: Booking Mode Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Online/Platform-based
- 6.2.2. Offline

Chapter 7. Global Short-term Vacation Rental Market Size & Forecasts by Region 2022-2032

7.1. North America Short-term Vacation Rental Market
- 7.1.1. U.S. Short-term Vacation Rental Market
  - 7.1.1.1. Accommodation Type Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.2. Booking Mode Breakdown Size & Forecasts, 2022-2032
- 7.1.2. Canada Short-term Vacation Rental Market
  - 7.1.2.1. Accommodation Type Breakdown Size & Forecasts, 2022-2032
  - 7.1.2.2. Booking Mode Breakdown Size & Forecasts, 2022-2032
7.2. Europe Short-term Vacation Rental Market
- 7.2.1. UK Short-term Vacation Rental Market
- 7.2.2. Germany Short-term Vacation Rental Market
- 7.2.3. France Short-term Vacation Rental Market
- 7.2.4. Spain Short-term Vacation Rental Market
- 7.2.5. Italy Short-term Vacation Rental Market
- 7.2.6. Rest of Europe Short-term Vacation Rental Market
7.3. Asia-Pacific Short-term Vacation Rental Market
- 7.3.1. China Short-term Vacation Rental Market
- 7.3.2. India Short-term Vacation Rental Market
- 7.3.3. Japan Short-term Vacation Rental Market
- 7.3.4. Australia Short-term Vacation Rental Market
- 7.3.5. South Korea Short-term Vacation Rental Market
- 7.3.6. Rest of Asia-Pacific Short-term Vacation Rental Market
7.4. Latin America Short-term Vacation Rental Market
- 7.4.1. Brazil Short-term Vacation Rental Market
- 7.4.2. Mexico Short-term Vacation Rental Market
- 7.4.3. Rest of Latin America Short-term Vacation Rental Market
7.5. Middle East & Africa Short-term Vacation Rental Market
- 7.5.1. Saudi Arabia Short-term Vacation Rental Market
- 7.5.2. South Africa Short-term Vacation Rental Market
- 7.5.3. Rest of Middle East & Africa Short-term Vacation Rental Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. Airbnb, Inc.
- 8.1.2. Booking Holdings Inc.
- 8.1.3. Vrbo (Expedia Group, Inc.)
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. Airbnb, Inc.
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. Booking Holdings Inc.
- 8.3.3. Vrbo (Expedia Group, Inc.)
- 8.3.4. TripAdvisor, Inc.
- 8.3.5. Sonder Holdings Inc.
- 8.3.6. Vacasa, Inc.
- 8.3.7. The Plum Guide Ltd.
- 8.3.8. Marriott International, Inc.
- 8.3.9. Agoda Company Pte. Ltd.
- 8.3.10. TurnKey Vacation Rentals, Inc.
- 8.3.11. 9flats GmbH
- 8.3.12. Tujia.com
- 8.3.13. OYO Homes & Hotels
- 8.3.14. HomeAway
- 8.3.15. Wimdu GmbH

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes