Over the past decade, private accommodation has undergone a
period of unprecedented innovation, growth and change. In just a few years,
innovative players and a string of acquisitions have redefined the concept of a
rental and brought a re-envisioned private accommodation segment into the
mainstream. Today's private accommodation landscape features a new generation
of rental travelers, new owners/hosts, new property managers and a range of
flexible management options.
Phocuswright's A Market Transformed: Private Accommodation
in the U.S. offers a detailed look at how this dynamic segment has evolved and
where it’s headed in the years to come. This report presents market sizing,
consumer trends, booking habits, and management options. It analyzes the new property
manager, including the technology used, marketing and distribution.
Research highlights include:
Purchase Phocuswright's A Market Transformed: Private
Accommodation in the U.S. for an in-depth analysis of the many facets of this
- Market sizing and distribution channel analysis with projections through 2018, including rental revenue, rental traveler population, total trip volume and supply
- Extensive analysis across key rental segments: urban and non-urban, rental-by-owner and professionally managed
- The competitive impact on hotels, including the rental market overlap, traveler perceptions of rentals vs. hotels, and why and when they choose rentals vs. hotels
- A close look at the U.S. rental traveler based on an expanded survey of more than 1,200 U.S. rental travelers: what they want, how they choose, shop and book, which rental sites they use, and much more
- Homeowner and host insights based on a survey of more than 800 rental homeowners and hosts, including who they are, why they rent, and what they want
- Comprehensive analysis of the property management landscape, including market sizing and population analysis, use of technology, distribution trends, and key challenges faced
- Introduction and Overview
- Key Findings
- Size of the Market
- The New Rental Traveler
- The New-Gen Property Manager
- Owners & Hosts
- Market Sizing Methodology
- Key Terms & Definitions
- Segment Categories
- Segment Actors
- Size of the Market
- RBO and Property Managers
- Market Size, Online Growth & Intermediaries
- Implications for Hotels
- The New Rental Traveler
- The Shifting Rental Stay
- Shopping & Booking
- Airbnb vs. HomeAway
- Rental by Owner or Property Manager: The Traveler View
- Property Management: The Next-Gen PM
- Technology, Marketing and Distribution
- The Management Decision: PM or RBO?
- Owner Demographics
- Partners & Sponsors
Following studies of the U.S. vacation rental marketplace in 2008 and 2012, Phocuswright in 2016 undertook a major research project to understand how the segment has evolved and where it is headed. This study included four key research components:
- U.S. Rental Traveler Survey: Phocuswright acquired 1,287 qualified respondents to a survey of U.S. rental travelers who are adults (18+), have access to the Internet, traveled overnight, and stayed in paid private accommodation at least once in the past year for leisure or business travel purposes. The survey was fielded online through SSI, a global panel provider, in the summer of 2016.
- U.S. Owner/Host Survey: Phocuswright acquired 801 qualified respondents to a survey of U.S. owners or hosts of a home that they rent out on a short-term basis (less than 30 days). Qualifying respondents are adults (18+), have access to the Internet, and either own or rent a home which they then rent out on a short-term basis. The survey was fielded online through SSI, a global panel provider, in the summer of 2016.
- Property Manager Survey: Phocuswright acquired 325 qualified respondents to a survey of property managers in the U.S. The survey was fielded online through research partners HomeAway, OPMA, VRMA and VRM Intel in the summer of 2016.
- Executive Interviews: Phocuswright analysts conducted 25 in-depth interviews across the U.S. vacation rental and private accommodation landscape, including property management companies, online rental sites, online travel agencies, reservation system companies and various technology-driven service providers to the rental marketplace (distribution, analytics, rental home management, etc.).
Market Sizing Methodology
Phocuswright developed market sizing estimates through projections from the three surveys (traveler, homeowner/host and property manager), as well as analysis of various third-party data sources, including published company data, industry interviews, various analyst reports and analytics firms tracking the private accommodation marketplace.