Niche No More: European Short-Term Rentals
Short-term rentals (STRs) have experienced a renewed interest among users and hosts alike. Despite the pandemic’s dampening impact on hospitality, many travelers considered a short-term rental for their accommodation needs, given some of the benefits associated with the accommodation type. Already popular in Europe pre-pandemic, the segment also saw record online penetration – the highest of any segment within the European market.
Meanwhile, many hosts shifted their business models and approaches in response to the situation at hand. Adaptations for the new reality of COVID were seen across the segment – catering to those avoiding crowded resorts and seeking privacy. This report, based on a comprehensive survey of Europe STR users, hosts and property managers, explores changes in the STR landscape from both consumer and business-side perspectives. Attitudes, goals and behavior are discussed in detail, along with sizing and projections for the market.
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