U.S. Short-Term Rentals
A Phocuswright Special Project
Short-term rentals in the U.S. have been on a steady growth trajectory over the past decade. Gross bookings increased at a CAGR of nearly 6% from US$31B in 2017 to $34B in 2019. Short-term rental demand recovered as summer 2020 travel skewed towards rural, less crowded destinations and drive-trips.
Perhaps there was no better sign of the recovery in this sector than Airbnb's IPO late in the year. Shares soared in value as investors expressed their confidence in the company's future.
With the high rate of vaccinations in the U.S. and an expected recovery in travel to follow, will short-term rentals continue to prosper and outpace the greater lodging market?
It's time to take a deep look at the U.S. short-term rentals marketplace to understand how it has shifted, adapted and changed in the wake of a global pandemic.
Sponsor this upcoming research project and receive insights including:
- Size of the U.S. short-term rentals market in 2019-2020 and projections through 2025
- Analysis of changes to the structure of the short-term rentals landscape in the COVID era
- Key trends in traveler demographics, behavior, attitudes, intentions and satisfaction across the consumer search, shop and purchase experience
- Homeowner/host and property manager trends
- Developments in online booking, distribution, marketing and payments
- The evolution of business models and fee structures affecting travelers, homeowner/hosts, property managers and retailers
- The impact of short-term rentals on the hotel sector
Key questions this research will address:
- How will the short-term rental market in the U.S. develop over the next few years?
- What are the key developments and trends in supply that will impact this segment?
- How will distribution evolve in the post-pandemic world?
- Will the momentous shift to online and digital continue?
- Will the "professionalization" of the industry continue apace?
- Will travelers be more inclined to stay in a private rental as compared to hotels?
- Is traveler demand likely to drive a shift in demand or create new demand?
- Which technologies (e.g. contactless) will be important as the market matures?
- What impact will the short-term rentals market have on the future of lodging?
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