The vacation rental market Growth Accelerated by Demand For Flexible Accomodation Options
The vacation rental market caters to the growing need for flexible accommodation options among travelers. Vacation rentals such as private homes, villas, cabins, and apartments provide travelers an alternative to standard hotels through personalized services and amenities suited for families and groups. Key advantages include more space and independence compared to hotels. The global Vacation Rental Market is estimated to be valued at US$ 72588.74 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The growth of the vacation rental market size is being accelerated by the increasing demand for flexible accommodation options. Travelers nowadays prefer alternatives to standard hotels in order to have more independence and personalized living spaces during vacations. Vacation rentals provide superior amenities tailored to families and groups such as full k...