The transformation over the past decade in lodging’s alternative accommodations sector has been nothing short of remarkable, from the online revolution in vacation rentals to the rapid ascent of Airbnb.
Phocuswright's Share This! Private Accommodation & the Rise of the New Gen Renter provides deep insight into the U.S. rental traveler, examining who they are, how they travel, want they want, and how they shop and book. This study delves into the competitive overlap with hotels, including the extent to which renters consider and stay in hotels, whether non-renters consider private accommodation, and the potential impact of rentals on the traditional hotel market.
Topics covered in this report include:
Purchase this report for an analysis into the emerging trend of alternative accommodations and U.S. rental traveler demographics, behavior and use of consumer technology.
- Historical context of the vacation rental and private accommodation markets
- In-depth analysis of the rental traveler and New Gen Renter segments
- Six key travel attitudes of the New Gen Renter
- To rent or not to rent: traveler decision dynamics around private accommodations vs. hotels
- How rental travelers shop and book accommodations
Section 1 – Introduction
A Brief History of Private Accommodation
Key Findings & Recommendations
Section 2 – Rentals & Renters
Section 3 – The New Generation Renter
Not Your Mom's Rental
Six Key Travel Attitudes of New Gen Renters
Section 4 – Rentals vs. Hotels
New Gen Renters' Lodging Preferences
To Rent, or Not to Rent
Function vs. Fun
Section 5 – Shopping & Booking
How Renters Plan Travel
What Renters Want Online
New Gen Renters & Ride-Sharing
Section 6 – Next Gen or New Gen?
Section 7 – Appendix
TABLE OF CHARTS
U.S. Traveler & Rental Traveler Population
Age Distribution for Renters and Non-Renters
Percentage of Travelers Who Rented Private Accommodation (Incidence), by Age
Annual Household Income for Renters and Non-Renters
International Travel and Leisure Trips by Trip Length, by Renters and Non-Renters
Annual Household Travel Spend for Renters and Non-Renters
Travel Component Purchase Incidence by Renters and Non-Renters
New Gen Renters as Share of Rental Traveler Population
Mean Annual Household Travel Spend and Gender, by Renter Type
Frequency of Leisure Trips by Traveler Type
Travel Attitudes by Traveler Type: ""Desire to See as Much of the World as Possible""
Travel Attitudes by Traveler Type: ""Prefer to Stay at Smaller, Boutique Hotels vs. Larger Properties""
Travel Attitudes by Traveler Type: ""Look Forward to Meeting New People and Sharing Experiences""
Travel Party Composition by Traveler Type
Travel Planning With Others by Traveler Type
Usage of Lodging Types, All U.S. Travelers
Usage of Lodging Types by Traveler Type
Rental Home Consideration by Travelers Who Did Not Rent a Home or Apartment
Reasons Why Non-Renters Did Not Consider Private Accommodation
Consideration of Hotels by Renters for Last Rental Stay
Reasons for Choosing a Rental Over a Hotel
Sources of Information Used in Shopping Phase
Websites Used for Shopping
Use of Online Features During Travel Planning for at Least Half of All Trips, by Traveler Type
Website Choice Motivation by Traveler Type
General Travel Booking Channel
Devices Used for Booking Hotels Online
Advance Booking Times for Domestic Travel (Relative to Planned Departure Date)
Use of Taxi-Hailing and Ride-Sharing Apps by Traveler Type
Travel Attitudes: ""When traveling, I look forward to meeting new people and sharing my experiences with them""
Hotels vs. Rentals: Logistic Regression Analysis
Phocuswright fielded an online consumer survey from February 28 to March 6, 2014 through Global Market Insite, Inc., targeting the general U.S. adult population who has Internet access and travels for leisure.
To qualify for participation in the study, respondents had to indicate they had taken at least one leisure trip at least 75 miles from home in the past 12 months; the trip had to include paid lodging (including private accommodation rental or hotels) and/ or air travel. An additional screener required consumers to have played an active role in planning their leisure trips. Respondents who qualified are referred to as "U.S. travelers."
Phocuswright received 1,880 qualified responses, and the weighted respondent pool can be projected with confidence to the U.S. adult population with Internet access. A total of 4,138 respondents were surveyed to obtain baseline metrics about travelers and non-travelers within the general online population. The error interval for analysis of the U.S. traveler population is ±2.3% at a 95% confidence level.
Based on data from the U.S. Census Bureau and Pew Research Center, Phocuswright projects the number of U.S. adults with Internet access who have taken at least one leisure trip (as previously defined) to be 127 million people in 2013 (see Figure 1). These travelers represent 54% of the total U.S. adult population. The additional requirement for respondents to have played an active role in travel planning further tightens the focus of the study, as 19% of travelers were consequently disqualified. Phocuswright further projects U.S. rental travelers – travelers who rented a private home, condo, apartment, or room (sleeping quarters or space) within a private home on a leisure trip – to be 22 million.