PHOTO: Vacation rentals will make a comeback in California wine country. (photo courtesy of Thinkstock)
Looking for a vacation home? You are not alone.
Vacation rental booking site Tripping.com released its 2017 Vacation Rental Trends Report, which included predictions for the vacation rental market in the coming year—and the overarching trend is that more people are searching and booking vacation homes.
Among the trends that Tripping.com forecasts, it predicts that more and more people will search for vacation rentals alongside hotel listings.
“Travelers today want the best price, location and amenities and are more inclined to include a vacation rental in their accommodation search,” noted the report.
One of the things that Tripping.com and similar sites have done to further this trend is to include hotel pricing alongside vacation rental search results. In addition, major online travel agencies have added short-term rentals next to their hotel offerings.
Tripping.com believes that the short-term rental market will continue to grow and gain market share from traditional hotel companies.
The company also believes that booking windows for vacation rentals will continue to shorten as more access to instant booking inventory comes online and mobile booking improves.
According to its survey, more than 60 percent of Tripping.com’s new inventory in 2017 qualified for instant booking.
Vacation rental searches span the globe, and Tripping.com’s domestic predictions indicate that the California Wine Country will see a comeback, lake vacations will be more popular and rental searches for snowbird destinations have expanded.
“Based on the impressive recovery of Pigeon Forge and Gatlinburg, Tenn., Tripping.com predicts that California wine country, impacted by wildfires in October 2017, will quickly bounce back and remain a popular destination for American wine lovers,” the report finds.
It also noted that alternative wine regions, such as Paso Robles in San Luis Obispo County and Temecula Valley in Riverside County, California, will see increased business as will wine regions in Washington, Oregon and Texas Hill Country.
Tripping.com’s data also shows that lake beaches are on the rise for summer vacations.
According to the report, lake searches for the busy spring and summer months grew 100 percent compared to beach destinations, which grew by only 49 percent in 2017. Tripping.com expects this trend to continue into the new year.
Some of the most popular lake beaches on Tripping.com include Broken Bow, Oklahoma; Lake Tahoe, California; Lake Michigan, Michigan; Lake of the Ozarks, Missouri; and Hot Springs, Arkansas.
Snowbird destinations for those looking to escape the winter chill have also expanded. More and more sun-seekers are looking beyond Florida for rentals in Arizona, Southern California and South Carolina, among others for 2018.
International rentals continue to show strength.
Tripping.com predicts that London will remain the most popular international destination for vacation rentals.
In light of the upcoming Winter Olympic Games, Tripping.com expects to see more rentals come online in Pyeongchang, South Korea, as homeowners look to cash in on the influx of visitors.
There is also an increase in short-term bookings to Russia due to the World Cup. Tripping.com predicts soccer fans around the world will travel to Russia for the World Cup (June 14-July 15, 2018) and that short-term rental availability will surge throughout the country.
By Janeen Christoff Courtesy Travel Pulse