“TripAdvisor Unlocks the Results of its Second Annual Vacation Rentals Survey” plus 1 more

TripAdvisor Unlocks the Results of its Second Annual Vacation Rentals Survey

Posted: 05 Jan 2011 03:00 AM PST

Press Release Source: TripAdvisor On Wednesday January 5, 2011, 6:00 am EST

NEWTON, Mass., Jan. 5, 2011 /PRNewswire/ -- TripAdvisor®, the world's largest travel site*, today announced the results of its second annual vacation rentals survey of more than 1,400 U.S. travelers. Forty percent of respondents said they are planning a vacation rental stay in 2011, indicating that rental homes are poised for a busy year ahead. Thirty-three percent of travelers said they stayed in a vacation rental in 2010.

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"With an increased interest in vacation rentals on TripAdvisor and a similar trend shown in our survey, it's shaping up to be another strong year of growth for rentals," said Hank Hudepohl, director of vacation rentals at TripAdvisor. "For travelers staying with larger groups in 2011, a vacation rental is a great option to consider for its home-like amenities and affordable pricing compared to hotels."

Grab Your Beach Umbrellas

Summer projects to be the most popular season for vacation rental stays in 2011, with 52 percent of U.S. travelers planning a rental home stay during the warmer months. In addition, 47 percent of respondents are planning to stay in beachfront villas, making them the most popular vacation rental type for 2011. The most popular U.S. region for rental stays in 2011 is the Southeast (31 percent) according to the survey. This was followed by the Southwest and the Northwest, which came in second and third, respectively.

There's No Place Like (Rental) Home

When asked what travelers liked the most about vacation rentals as a lodging option:

28 percent cited more space
23 percent of travelers enjoyed having access to a full kitchen
13 percent liked that rentals were often less expensive than hotels

In addition, 41 percent of respondents said vacation rentals were the best option for a trip when staying in a destination for a week or more, while 33 percent thought they were the best option when staying with a large group.

Early Bird Catches the Worm

Twenty-nine percent of travelers either always or often stay in the same rental year after year. Of the travelers who stayed in a vacation rental in the past:

22 percent booked their rental home more than six months prior to the trip
34 percent of travelers booked their rentals between three and six months out
22 percent booked between one and three months out
2 percent of travelers booked their vacation rental less than one month out

Let's Make a Deal (Over a Hotel Stay)

Eighty-seven percent of respondents said they would choose to stay in a vacation rental over a hotel if it were significantly less expensive. In addition, 80 percent of travelers would book a last minute vacation rental stay if they found a great deal.

Living the Life

If travelers had their pick of luxury vacation rental features:

51 percent would choose a rental home with a private beach
12 percent would choose a rental home with maid service
9 percent would choose a rental home with a hot tub
8 percent would choose a rental home with a personal chef

Let's Get Together, Yeah, Yeah, Yeah

According to the survey, 36 percent of travelers who have rented in the past have stayed in a vacation rental for a milestone life event, such as a wedding, birthday or reunion.

Fight For Your Vacation Rental Rights

With New York City poised to impose a ban on short-term vacation rental stays in 2011, the topic is sure to be top of mind for travelers visiting the city this year. According to the survey, 92 percent of respondents don't think cities should limit travelers' access to short-term vacation rental stays.

Know Before You Go

When deciding between different rental properties, the key influences cited by respondents are:

Photos of the home (42 percent)
Traveler reviews (27 percent)
Cost of staying at the properties (13 percent)

Over the Internet and Through the Grapevine

Most travelers find out about vacation rental properties on the Web, both on vacation rental property websites (70 percent) and online travel websites (55 percent). In addition, 25 percent of respondents find out about particular homes by word of mouth from friends and family.

Still Room to Grow

When travelers who hadn't stayed at a vacation rental in the past were asked why not:

22 percent said they simply had not thought of staying at a rental home for a trip
14 percent said they had a better idea of what they were getting when staying at a hotel
12 percent thought hotels had better amenities than vacation rentals

When asked what would make them consider staying at a rental home in the future, most respondents (30 percent) went with their wallets and cited lower prices than hotels.

"Great deals can be found even for vacation rentals with remarkable amenities including private pools, full kitchens and spacious common areas," said Hudepohl. "Read the traveler reviews and book early so you don't miss out on the best properties."

About TripAdvisor

TripAdvisor® is the world's largest travel site, enabling travelers to plan and have the perfect trip. TripAdvisor offers trusted advice from real travelers and a wide variety of travel choices and planning features (including Flights search, TripAdvisor Mobile and TripAdvisor Trip Friends) with seamless links to booking tools.

TripAdvisor® Media Group, operated by TripAdvisor LLC, attracts more than 50 million unique monthly visitors* across 17 popular travel brands**. TripAdvisor-branded sites make up the largest travel community in the world, with more than 40 million unique monthly visitors***, 20 million members, and over 40 million reviews and opinions. The sites operate in 27 countries worldwide****, including China under daodao.com. TripAdvisor also operates TripAdvisor for Business, a dedicated division that provides the tourism industry access to TripAdvisor's millions of monthly visitors. The division includes Business Listings, which allows hoteliers to connect directly to millions of researching travelers, and Vacation Rentals, which helps property managers and individual home owners list their properties and showcase hotel alternatives.

TripAdvisor Media Group websites have been recognized as top travel resources in 2010 by Condé Nast Traveller, Good Housekeeping, TIME magazine and Travel + Leisure.

TripAdvisor and the sites comprising the TripAdvisor Media Group are operating companies of Expedia, Inc. (Nasdaq:EXPE - News).

TripAdvisor and the TripAdvisor logo are trademarks or registered trademarks of TripAdvisor LLC in the U.S. and/or other countries. Other logos or product and company names mentioned herein may be the property of their respective owners.

*Source: comScore Media Metrix for TripAdvisor Media Group Sites, Worldwide, August 2010

** In addition to TripAdvisor, The TripAdvisor Media Group of websites includes: www.airfarewatchdog.com, www.bookingbuddy.com, www.cruisecritic.com, www.familyvacationcritic.com, www.flipkey.com, www.holidaylettings.co.uk, www.holidaywatchdog.com, www.independenttraveler.com, www.onetime.com, www.seatguru.com, www.sniqueaway.com, www.smartertravel.com, www.travel-library.com, www.travelpod.com, www.virtualtourist.com and www.kuxun.cn.

***Source: comScore Media Metrix for TripAdvisor Sites, Worldwide, August 2010

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Vacation rentals piling on the luxuries

Posted: 03 Jan 2011 08:07 AM PST

A self-described hotel snob, Jennifer Treadwell prefers to stay at Four Seasons and similar upscale hotels when she goes on vacation, for the high level of service and luxurious amenities they provide. The idea of renting a vacation home, where she would presumably bring her own bed sheets and toilet paper, was never very appealing. Then she discovered the Cottages at Cape Kiwanda on the Oregon coast, where $500-a-night two-bedroom cottages offer flat-screen televisions, surround-sound systems, spa-style robes, iPod docks, in-room Internet access and whirlpool tubs. Guests have access to a fitness center nearby and a concierge who can book an oceanfront massage or surf lesson or recommend nearby hiking trails.

"I've been staying there since they opened, and I never really thought of them as that vacation rental place," said Treadwill, a health coach from Portland, Ore. "I always assumed it was a luxurious boutique hotel."

In an effort to distinguish themselves from other short-term rentals and capture a share of the $100 billion hotel market, many vacation rentals are trying to stand out by essentially posing as hotels — offering everything from regular maid service to miniature toiletries to concierges who can arrange restaurant reservations. That's good news for travelers looking for an alternative to traditional hotels, as the heightened competition creates a greater diversity of places to stay at a wider range of prices.

For example, in Mexico the company Lifestyle Villas, which manages beachfront homes and condos in Los Cabos, requires homeowners who list with the agency to include certain standard perks, among them, 800-thread-count linens, two bathrobes per room, wall safes, suitcase holders, alarm clocks and L'Occitaine toiletries. Exclusive Vail Rentals, a Colorado rental company that opened last year, insists on similar consistency, providing daily maid service, Molton Brown toiletries and ski and boot delivery for guests.

And ResortQuest, a large vacation rental company with nearly 10,000 properties in the United States, recently acquired by Wyndham Worldwide, is attempting to entice guests to its vacation rentals with hotel points. The outfit is offering 25,000 Wyndham Rewards points to travelers who book at least four nights at ResortQuest ski destinations by Jan. 31 for travel through April 15. The points can be redeemed for up to four free nights at a Wyndham hotel.

One reason for all this extra effort is the surplus of vacation properties built during the economic boom: Unsold homes and condominiums are now being marketed as rentals, making the entire market more competitive. Even mom-and-pop outfits are stepping up the personal service, easing minimum booking requirements, offering airport transfers and including welcome baskets with basic toiletries or kitchen supplies.

More space, more sophistication

Vacation rentals have long appealed to families in search of more space and a kitchen, but they are gaining other converts.

Gordon Reid, a frequent traveler from San Francisco, expected to miss the consistency of chain hotels when he booked a vacation rental at the urging of a friend. "I thought, 'I don't want to deal with the quirks of a regular house,"' he said.

But he quickly got over those concerns after experiencing the "hotel-like amenities" of Globe Homes and Condos. In the past year, he has chosen its rental properties over hotels on several business trips, saving about $50 a day in the process. "It's a nice alternative," he said.

Until recently, most vacation rentals were available only weekly — usually Saturday to Saturday. But even that has changed as rental companies have become more sophisticated about managing inventory and online bookings. Last year, 23.5 percent of vacation rental listings on Rentalo.com had no minimum-stay requirements, up from roughly 14 percent the year before. And websites like Homeaway.com and Vacationroost.com are making it easier for travelers to compare and book vacation rentals online. TripAdvisor.com has more than 250,000 reviews from vacation rental guests, and Homeaway allows guests to post reviews and evaluate the accuracy of its listings on a five-star rating system.

Amid all the newfound sophistication, plenty of rentals still offer nothing more than a key under the doormat, requiring guests to tidy up after themselves and, yes, bring their own toilet paper. Ski resorts, popular Caribbean getaways and many rentals near Disney World in Orlando that compete directly with hotels tend to offer more services and amenities than markets where there are few chain hotels. You should do due diligence by contacting the property to ask what exactly is included in the price.

But what vacation rentals lack in brand familiarity and uniformity, they tend to make up for in other attractive variables — say, more space, privacy or a certain sense of homeyness from drinking a beer on your own front porch.

Douglas Quinby, a leisure travel analyst at the research firm PhocusWright, compares staying in a brand-name hotel chain to Starbucks, "where you know what the coffee is going to taste like when you get there." Staying at a vacation rental, he said, is akin to "stumbling upon that independent coffee joint that's different and enhances your experience."

Vacation Rentals

Thursday, January 27, 2011

“TripAdvisor Unlocks the Results of its Second Annual Vacation Rentals Survey” plus 1 more

“TripAdvisor Unlocks the Results of its Second Annual Vacation Rentals Survey” plus 1 more

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