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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 | Author Name: Harshad

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FAQ : 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.
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