GVR Report cover Vacation Rental Market Size, Share & Trends Report

Vacation Rental Market Size, Share & Trends Analysis Report By Accommodation Type (Home, Apartments, Resort/Condominium), By Booking Mode (Online, Offline), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68038-532-8
  • Number of Pages: 96
  • Format: Electronic (PDF)

Report Overview

The global vacation rental market size was valued at USD 74.64 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2022 to 2030. Rising expenditure on travel, vacations, and accommodation among the millennials generation is driving the market. According to Copyrise, 200,000 million global tourists are millennials and they spend around USD 180 billion on travel every year.

U.S. vacation rental market size, by accommodation type, 2020 - 2030 (USD Billion)

However, the COVID-19 pandemic has negatively impacted the growth of the market. For instance, according to AirDNA, there has been a significant drop in weekly bookings between the beginning of January and March 2020. Moreover, the number of bookings in Beijing dropped by 96%, Shanghai by 71%, Seoul by 46%, and Rome by 41%.

Travelers in the market are more inclined towards vacation rental property over hotels owing to the comfort, low cost, more privacy, and kids and pet-friendly nature of the accommodation. Low cost as compared to hotel accommodation with similar amenities drives the consumer’s inclination towards vacation rental property. For instance, according to the TurnKey Vacation Rentals 2019 survey, 64% of travelers prefer staying in vacation rentals to hotels.

Moreover, it has been observed that while traveling with family, consumers consider various factors while choosing a vacation rental for amenities and comfort. For instance, according to the report of iPropertyManagement in 2021, 71% of families traveling with children prefer to prepare their own meals, which was a likely factor in their decision to stay in a vacation rental.

Additionally, rising supply is increasing the demand and availability of vacation rentals owing to low costs compared to hotels. As per Stratos Jet Charters, Inc. statistics, there are 2.9 million hosts on Airbnb worldwide, and over 14,000 hosts are among the new additions each month in 2021. Moreover, Airbnb operates in around 220 countries, with around 100,000 cities with active Airbnb listing in 2021.

The influence of social media and the internet is increasing awareness among consumers regarding services and offerings. Key players are offering various services, exotic locations, and amenities to gain market share, and are offering services dedicatedly to female travelers. For instance, in January 2020, Golightly was launched, which is a vacation rental platform managed by women and only available for female guests, also allowing men. The company owns more than 350 properties across the globe.

Accommodation Type Insights

In terms of revenue, the home accommodation type segment dominated the market with a share of over 45.0% in 2021. This is attributed to the high popularity of homes among travelers owing to its space availability, safety, and access to amenities. Moreover, the low cost of accommodation in rural and travel destinations is acting as a major driver for the segment.

The resort/condominium segment is projected to register the highest CAGR of 6.1% from 2022 to 2030. The segment is majorly driven by the millennials as they are more inclined towards spending on experiencing various amenities including barbeque pits, games, swimming pools, clubhouses, and tennis. According to iPropertManagement in 2021, 12% of millennials plan to stay in a villa/estate, and only 6% of Boomers and 9% of Gen Xers.

Booking Mode Insights

In terms of revenue, offline booking mode dominated the market with a share of over 70.0% in 2021. This is attributed to the Baby boomers and Gen X being the major consumer base preferring offline mode of booking. Increasing penetration of the internet and smartphone among consumers is estimated to shift consumers’ inclination towards online booking mode.

Global vacation rental market share, by booking mode, 2021 (%)

Online booking mode is estimated to expand at the fastest CAGR of 6.0% over the forecast period. The growth is credited to consumers’ preference to have detailed access to the offerings of accommodation, amenities, and other benefits. Value for money, convenience, and search for authentic travel experiences are major factors fueling the growth of online booking. A growing number of startups and third-party travel booking companies are offering services via application and website only.

Regional Insights

Europe dominated the market with a share of over 30.0% in 2021. This is attributed to the big tour operators and online tour operators catching up with the growing trend of glamping and rising expenditure for booking accommodation in resorts and condominiums. Germany and the U.K. are estimated to lead the market over the forecast period. The U.K. is projected to be the fastest-growing market in the region.

Asia Pacific is expected to register the highest CAGR of 6.5% from 2022 to 2030. The growth is majorly attributed to the rising expenditure of the consumers on traveling and accommodation. China held the largest revenue share in 2021 in the region and is estimated to maintain its lead in the years to come. The rising expenditure of travelers from other developing countries such as India, the Philippines, Vietnam, and Australia is further estimated to support the market growth in the region.

Key Companies & Market Share Insights

The market is characterized by the presence of a few established players and new entrants. Many big players are increasing their focus on the growing trend of the vacation rental. Players in the market are diversifying the service offering in order to maintain market share.

For instance, in December 2021, Booking Holdings Inc. acquired Getaroom from Court Square Capital Partners for USD 1.2 billion. Through this acquisition, the brand aims to increase the value of its pipeline. Additionally, in October 2020, Tripadvisor launched two new technology solutions Spotlight and Reputation Pro for hotels. Both aim to improve their hospitality business and build traveler confidence, attract new customers, and make data-driven decisions to increase profitability. Some prominent players in the global vacation rental market include: -

  • 9flats.com Pte Ltd.

  • Airbnb Inc.

  • Booking Holdings Inc.

  • Expedia Group Inc.

  • Hotelplan Holding AG

  • MakeMyTrip Pvt. Ltd.


  • Oravel Stays Pvt. Ltd.

  • TripAdvisor Inc.

  • Wyndham Destinations Inc.

Vacation Rental Market Report Scope

Report Attribute


Market size value in 2022

USD 82.63 billion

Revenue forecast in 2030

USD 119.0 billion

Growth Rate

CAGR of 5.3% from 2022 to 2030

Base year for estimation


Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Accommodation type, booking mode, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; U.K.; China; Japan; Brazil; Saudi Arabia

Key companies profiled

9flats.com Pte Ltd.; Airbnb Inc.; Booking Holdings Inc.; Expedia Group Inc.; Hotelplan Holding AG; MakeMyTrip Pvt. Ltd.; NOVASOL AS; Oravel Stays Pvt. Ltd.; TripAdvisor Inc.; Wyndham Destinations Inc.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global vacation rental market report on the basis of accommodation type, booking mode, and region:

  • Accommodation Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Home

    • Apartments

    • Resort/Condominium

    • Others

  • Booking Mode Outlook (Revenue, USD Million, 2017 - 2030)

    • Online

    • Offline

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa (MEA)

      • Saudi Arabia

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