Fragmented, But Formidable: Europe's Diverse Vacation Rental Market
- October 2011
- Douglas Quinby
In a landmark release, Phocuswright has published its first-ever study analyzing Europe's dynamic vacation rental marketplace. Phocuswright's European Vacation Rental Marketplace: 2011-2013 provides a comprehensive analysis of the vacation rental market across seven key countries in Europe: Denmark, France, Germany, Italy, the Netherlands, Spain and the U.K. Until now, there has been no standard market research available for this complex and increasingly important segment of Europe's accommodation sector.
Based on multi-market consumer and homeowner surveys, wide-ranging industry interviews and a sweeping review of government data sources, Phocuswright's European Vacation Rental Marketplace: 2011-2013 reveals a relatively mature and vibrant vacation rental market in Europe, poised to generate more than €20 billion in revenue in 2011. More than one in four European travelers have booked a vacation rental in 2011, up from 2010 (see Figure 1).
"As in the U.S., Europe's vacation rental marketplace is incredibly fragmented and complex, but vacation rental stays are much more commonplace in Europe," says Douglas Quinby, senior director, research at Phocuswright. "There is also much higher consumer awareness, a variety of strong brands across several markets, and profound change underway as online players and new entrants increasingly challenge the established order."
Phocuswright's European Vacation Rental Marketplace: 2011-2013 includes:
- Market sizing by vacation rental revenue and inventory supply for all of Europe, and rental revenue by country and property type
- Impact of the economic developments in Europe on the marketplace, with total European market and online market figures from 2008 and projections through 2013
- Market size and trends by booking channel (total market and online penetration) with projections through 2013
- Market share by country for vacation rental management companies (VRMCs) and rental by owner (RBO)
- Key operational metrics such as average daily rate, occupancy and length-of-stay
- Detailed analysis of vacation rental distribution, including:
- RBO model and listing websites
- Traditional travel agencies, tour operators and the role of offline channels
- Consumer behavior: examination of European vacation rental guests (VRGs) by country, with a focus on preferred destinations, vacation styles, shopping and booking behavior, drivers and inhibitors to vacation rental consideration and booking, satisfaction levels and more
- Vacation rental homeowner profiles, including number and types of properties owned, and attitudes toward property marketing and competing management methods (VRMC vs. RBO)
- Discussion of significant and evolving trends that influence the European vacation rental marketplace – technology innovations, the emerging role of social media, the importance of online booking and other features
Phocuswright's European Vacation Rental Marketplace: 2011-2013 – a Global and European Edition publication – reveals the stats, trends and analysis to make sense of this complex segment that is increasingly making its mark on the continent's lodging market.
Introductory pricing (save 10% off the regular price of US$1,695) is in effect through November 30, 2011.