Thursday, February 13, 2014

Hawaii third most popular destination for vacation rentals

TripAdvisor®, the world's largest travel site*, today announced the results of its fifth annual vacation rental survey of more than 1,100 U.S. respondents, which shows that 52 percent plan to stay at a vacation rental in 2014, up eight percent compared to those who stayed in a rental last year. The top three reasons travelers will choose a vacation rental over a hotel stay this year are: more living space (67%), lower rates than hotels (53%), and better amenities (50%). Ninety-four percent of U.S. respondents who have previously stayed in a rental said they were satisfied with their experiences.

@TripAdvisor survey reveals 52% of U.S. travelers planning a vacation rental stay in 2014. Tweet
Families Favor Vacation Rentals

Sixty-one percent said they have booked a rental home when traveling with family or a large group and of those respondents, 48 percent said the main reason they enjoy a rental is spending time together in common living space. Fifty-seven percent of respondents said they had an "excellent" vacation rental experience bonding with family.

Travelers Look to Rental for Value
Eighty-seven percent of all U.S. respondents maintain they would stay at a vacation rental instead of another accommodation if it meant saving money; of that group, 27 percent said they would not need to save money to choose a vacation rental over a hotel. Twenty-one percent said they have booked a vacation rental because they were on a budget.

Here's what travelers plan to spend per night at vacation rentals:
  • $100-200: 45%
  • $200-300: 22%
  • Less than $100: 14%
Settings and Seasons 
Most popular U.S. regions for vacation rental stays in 2014:
  • Southeast – 33%
  • Northeast and Southwest (tied) – 15%
  • Hawaii – 11%
Thirty-two percent will stay at a rental outside of the U.S. and of those traveling internationally, 53 percent will rent in Europe; 30 percent in the Caribbean islands; and 13 percent in Mexico.
The top settings for vacation rental stays in 2014:
  • Beach / ocean – 65%
  • City – 27%
  • Mountains – 18%
  • Island and countryside (tied) – 17%
  • Lake – 13%

Summer is the most popular season for vacation rentals as 65 percent plan stays between June and August. The most popular months for stays are: July (25%) and October (22%)

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