The Vacation Rental World So Far
Alongside technological changes, the industry has boomed in both scale and scope – professional associations like VRMA were formed, global online marketplaces established and new business opportunities arose. It’s perhaps not surprising, then, that the industry has been predicted to reach a worth of US$170 billion by 2019!
Stepping into 2019, we’re continuing to witness disruptions to the ever-changing industry – and there’s no sign of slowing. Vacation rentals are gaining traction among travelers and are now even thought to overshadow “mainstream” accommodation, like hotels. With this
This means that property managers and owners need to be ever more agile when it comes to keeping up with traveler trends. Improved technologies like software integrations and the TripAdvisor Rentals Owner App give you the ability to respond quickly and take bookings on-the-go while ensuring correct rates and availability. You no longer have to miss out on last-minute or instant bookings that come your way anytime anywhere.
The power of these statements of shared experience cannot be underestimated – they’re a key part in the traveler’s decision-making process, and marketers leverage them as word-of-mouth marketing. They’re great testimonials about the properties, published in a public space, and by others not affiliated to the business. As such, they’re considered candid and trustworthy sources of information.
“There’s more value in guest reviews than any copy we create. Guests want to hear what stands out and what’s special, from people who have actually stayed there. Reviews put potential guests at ease. Adding confidence is the main thing.” – Brian Harris, property manager.
This is a great opportunity, especially for the vacation rental industry. With more travelers seeking out authentic, local experiences, there’s no better accommodation solution than a rental. Pair your properties with experiences and offer a full in-destination experience to your guests now with TripAdvisor’s Travel Agent Program. And the best part? You’ll earn an additional 8% commission, too!
The travel industry is constantly evolving. TripAdvisor Rentals is here to help you stay competitive in the marketplace by helping you pair your rental with local attractions.