Edited Press Release
Technology & Internet services
LeisureLink, Inc., the distribution and revenue management platform for specialty lodging suppliers, today updated the LeisureLink Demand Index™ through May 2010.
LeisureLink's demand index
The report, compiled monthly by LeisureLink, shows consumer demand for Vacation Lodging in mainstream online travel channels showed an unusual sharp decline in May due to the Gulf Coast Oil spill. (more…)
Edited Press Release
Marketplaces
Second home owners who rent their homes to travelers, on average, generate more than $35,000 in rental income each year, according to HomeAway – which released its quarterly “HomeAway Vacation Rental Marketplace Report.”
Vacation rentals vs. hotels
On average, second home owners are renting their properties to travelers 20 weeks a year, and the rental income generated is helping many owners offset mortgage and upkeep costs. In fact, the HomeAway report found 38 percent of owners generate enough rental income to cover 75 to 100 percent of their mortgage. Nearly two-thirds (63 percent) of owners earn enough to cover at least 50 percent of their mortgage. (more…)
Edited Press Release
Technology & Internet services
LeisureLink, Inc., a distribution and revenue management platform for specialty lodging suppliers, today updated the LeisureLink Demand Index™, through April 2010.
Leisure Link Demand Index
Consumer demand for Vacation Lodging in mainstream online travel channels has shown strong growth in the first quarter of 2010 versus 2009. (more…)
Edited Press Release
Marketplaces
HomeAway UK today released their Q1 report revealing industry statistics and traveler trends.
Highlights:
Edited Press Release
LeisureLink, Inc., the provider of distribution and revenue management platforms for specialty lodging suppliers, today announced the first publication of the LeisureLink Demand Index, showing dramatic growth in consumer demand for Vacation Lodging in mainstream online travel channels.
“Consumer demand in online channels has tripled over the last 2 years,” said Steve Reich, Senior Vice president of LeisureLink. “Consumer acceptance of Vacation Lodging is growing rapidly, even with difficult economic conditions,” he added. “This is a classic case of the ‘network effect’— a hot product creates demand, demand creates distribution, and broad distribution creates more demand,” said Reich. Vacation Lodging includes Vacation Rental Properties, Timeshare Resorts, and Boutique Hotels. “The growth in Vacation Lodging is in sharp contrast to the 7% decline in leisure and unmanaged business travel in 2009 recently estimated by research firm PhoCus Wright,” he continued.
“The Vacation Lodging category is growing because it offers a tremendous value proposition—a low cost per person, unique lodging options, and a chance to gather with friends and family in an intimate setting,” Reich added.
The LeisureLink Demand Index™ measures query volume across its Major Market Access (MMA) platform. The MMA provides distribution on major travel sites such as Travelocity, Orbitz, Priceline, GDS Marketplaces, and LeisureLink’s own ABetterStay.com marketplace. The queries on this network measure demand for Vacation Lodging directly from consumers, as well as from wholesale and travel agent channels. Taken as a whole, the index broadly measures total consumer demand for Vacation Lodging.
LeisureLink Demand Index
The LeisureLink Demand Index™ shows that overall Vacation Lodging demand grew more than 200% in the two years February 2008-10. The impact of the current recession is obvious — demand fell sharply in the first quarter of 2009, even though the 2008 experience suggests that the Ski and Spring Break seasons should have propelled demand higher. Demand fell even more sharply in April 2009, when the Swine Flu epidemic was raging, and violence in Mexico reduced cross-border travel.
“The resumption of growth in consumer demand in the latter half of 2009 and early 2010 validates that Vacation Lodging is the right product for more frugal times. Consumers still want to vacation with their family and friends, but want to hold down their expenditures,” Reich explained.
The LeisureLink Demand Index™ is derived from the more than 500 million consumer queries processed annually by LeisureLink. The Index includes properties in North America, Mexico, and the Caribbean. LeisureLink clients include vacation rentals, timeshare resorts, boutique hotels, and their properties encompass ski, beach, and other locations.
Growth in the index has come from three key sources. More consumers are searching for Vacation Lodging, increasing the overall Index. New distribution partners have also joined the LeisureLink Marketplace seeking to tap this demand, bringing more consumer queries for existing properties. Lastly, new properties added to the system attract additional queries for that specific property. Taken as a whole, queries across the system represent a broad measure of consumer demand.
“We also see increasing competition among properties for consumers in these channels. Vacation Lodging providers have been very aggressive with their pricing and promotions through this difficult period, and many have reduced their required minimum length of stay. Properties that focus on being competitive in their market are getting the lion’s share of the bookings in mainstream online channels,” said Reich.
Edited Press Release
TripAdvisor announced its list of the ten quirkiest vacation rentals around the world according to TripAdvisor editors. In addition, the site released the results of its 2010 vacation rentals survey of more than 1,000 U.S. respondents. Sixty-eight percent of travelers are either planning or considering a stay at a vacation rental in 2010, indicating an increase in interest from the 52 percent of past renters who said they stayed at a rental home in 2009. Eighty-eight percent of travelers said they would choose a vacation rental over a hotel if it was a better value.
Opening the Door to Vacation Rental Deals
Travelers have been taking to their keyboards over the month of January to begin planning their 2010 vacation rental stays. Search volume on TripAdvisor’s vacation rentals listings is up 123 percent month-over-month from December 2009 to January 2010, indicating an increased interest in rentals for the new year.
Bring on the Sunshine
Of the travelers planning to stay at a vacation rental this year, 53 percent said they are planning their trips for the summer months, followed by 34 percent for the winter, 29 percent for the spring, and 26 percent for the fall. More travelers are planning to stay at a vacation rental in the Southeast than any other region, according to the survey. The Northeast and Southwest were next in popularity, coming in second and third place, respectively.
Quirkiest vacation rental
Here are the top 3 quirkiest vacation rentals around the world according to tripadvisor:
1. DOME ECILE, St. George Island, Florida
Weekly Rate Range: $765 - $950
A geometrical wonder, DOME ECILE not only is a sight in and of itself, but it also sports beautiful beach views. One TripAdvisor traveler says, “All of my kids were excited to be staying on the beach, in a house like no other.”
2. Calypso Castle, Skopelos, Greece
Weekly Rate Range: $1,445 - $3,636
Complete with a stone tower and gorgeous views, Calypso Castle is a great rental home for travelers looking for a royal retreat. One TripAdvisor traveler raves about the “beautiful view” and “island” of Skopelos.
3. Unique Hilltop Windmill Rental, Odemira, Portugal
Weekly Rate Range: $526 - $756
Only in Portugal can you rent your own windmill-inspired house on top of its own mini-mountain for under $800 per week. As one TripAdvisor traveler puts it, “The Mill on the hill is rustic, homely, cozy and down to earth — just the way it should be!”
Click here to view the full list.
According to HomeAway, this January, its two UK sites; HomeAway Holiday-Rentals and Owners Direct leap in to the top 10 travel websites in the Hitwise ‘Destination and Accommodations’ category, joining well-established travel giants such as TripAdvisor and Travelodge.
Petra Friedmann, President of HomeAway Europe comments, “We’re delighted to be included in the Hitwise top 10. Our internal forecasts indicate our two UK sites, homeaway.co.uk and ownersdirect.co.uk have experienced record traffic and we expect almost 5 million visits by the end of January. Despite the struggling economy, demand for online holiday rentals is going from strength to strength as travellers realise they can find a whole home for less per head than a similar standard hotel and stretch their budget even further by taking advantage of self-catering facilities.”
Both companies remain confident this growth will continue throughout the year, as forecasts indicate demand will stay strong. According to industry analyst Mintel, around one in five people currently stay in holiday homes and self-catering holidays are rising every year. In 2009, self-catering holidays were forecast to represent over 60% of all overseas holidays and Mintel expects the self catering market to continue to outstrip general holiday growth and exceed 34.3 million breaks by 2011.
Throughout the world, HomeAway is kicking off ambitious marketing plans to communicate the benefit of rentals and strengthen the brand. In the US, the company will air its first ever national advertisement during the CBS television network broadcast of the Super Bowl on February 7, 2010. Locally, HomeAway.co.uk is targeting the social media as it sends two writers ‘around the world’ in holiday homes to chronicle their experiences via a blog and Twitter at http://www.grantourismotravels.com and http://twitter.com/gran_tourismo.
Escapia presents its National 2010 Vacation Rental Industry Report providing insight into vacation rental market trends. According to Escapia it covers over a million booking days in 2009 across tens of thousands of vacation homes from coast to coast and is the most thorough analysis of 2009 vacation rental data to date.
escapia vacation rental industy report 2010
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PhocusWright Blog
HomeAway reveals selected stats and figures
Friday, April 2nd, 2010In a recent article in Travolution by Linda Fox HomeAway’s CEO Brian Sharples reveals updated stats and figures on HomeAway:
Read the full article at: http://www.travolution.co.uk/articles/2010/03/30/3368/homeaway-to-slow-acquisition-strategy.html
Tags: homeaway, statistics
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