VRMA releases 2019 Vacation Rental Industry Survey Report
US: The Vacation Rental Management Association (VRMA) has released its 2019 Vacation Rental Industry Survey Report.
Produced and distributed in partnership with data intelligence company Transparent, the report—which it claims is the first of its kind in the industry—presents focused survey data on marketing, distribution, technology and other vacation rental market trends at the state and national levels across North America.
VRMA executive director Mike Copps said: “VRMA is extremely excited to release our Vacation Rental Industry Survey Report.
“Much of the data contained in the report confirms anecdotal trends we have been hearing across the industry, while other data sheds light and clarity on areas such as revenue management strategy, distribution partner trends and the evolution of the urban property management segment versus traditional vacation destinations,” he added.
The 100-page report’s main takeaways are linked to growth in all aspects of the industry, such as revenue and expenses for property management companies.
Year-on-year bookings are seeing growth across the board, with an additional increase anticipated in direct bookings because of greater expenses on marketing strategies and the sophistication of distribution tactics. Technology use is also on the rise as more potential partners enter the space.
Despite the growth, the report highlights two ongoing challenges in the short-term rental industry: hiring and retaining qualified staff, and dealing with potentially harmful regulations.
Copps said: “The data presented in this report will inform our advocacy and education efforts moving forward, which are the pillars of our non-profit trade association. We are pleased with—and appreciative of—the number of property managers who took the time to complete this survey, and we will continue to grow the number of respondents with each annual report.”
For more information on downloading the 2019 Vacation Rental Industry Survey Report, visit the link here. The report is free for all VRMA members and available for purchase for non-members.
