This will be an epic summer for vacation rentals, especially in these countries.
According to Vacasa covid-19 pandemic has supercharged the market for short term rentals, and the demand apparently is showing no signs of slowing down. Matthew Roberts, CEO of VACASA says “This is going to be an epic summer,” it’s also said that reservations are at an all-time high as pandemic weary travelers seek out vacation rentals with space, privacy and pool. “We’re up 213% March of 2021, over March of 2019, and we’re also seeing really high rates, higher rates than 2019 and higher occupancy as well. So business is booming,” he said.
Experts say inventory is getting squeezed for a second consecutive year as more people who own second homes prefer air travel and opt to vacation at their getaway house instead. At the same time, Roberts says the ability to now work and school remotely, has more people looking to rent vacation homes for longer. “I think we’re trending right now about 13% higher lengths of stay than we did in 2019,” he said.
Roberts continues saying that pandemic driven demand has caused the market for vacation home rentals to leapfrog at least a few years in terms of growth. In 2020 more traditional hotel travelers, such as Baby Boomers, tried Airbnb and Vrbo for the first time and decided they liked it
According to Vacasa, the Florida Keys, Oregon Coast, Texas Hill Country and Martha’s Vineyard are all popular family destinations this year. Roberts says he’s confident Vacasa can manage the spike in occupancy. “We’re seeing occupancy rates up in the 90% already in a couple of geographies,” he said. “I think it’s just exciting to see people back. You know, I think that they’re excited to travel again.”
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