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June 20, 2014

Rent, Swap or Share: Growing Vacation Trends

Notable
Growing Vacation Trends

Did You Know that over half of U.S. travelers plan to stay in a vacation rental this year? That's nearly five times more than just six years ago according to a survey by TripAdvisor.  Vacation rentals are not just for families anymore says the Vacation Rental Management Association. They are becoming increasingly popular with business travelers looking for greater convenience, comfort and/or cheaper alternatives to hotels.  And vacation rentals are also booming in markets where large events are taking place and hotels are overwhelmed by demand.

Want to take a vacation without shelling out for accommodations and have the creature comforts of home? A house swap or exchange may be for you. It's a growing trend worldwide. HomeExchange, the leading home exchange service, reports that 13 percent more of its members home exchanged during the 2013 summer as compared to the previous one. The most popular swap destinations?  The U.S., France, Spain, Italy, Canada, the United Kingdom, the Netherlands, Australia and Denmark.

Or are you looking to put your spare bedroom or basement apartment to use?  Listing them on sites like Airbnb, Couchsurfing or Roomorama could earn you some cash.  Does it matter where you live? Airbnb says that while large U.S. cities are still major markets, fewer than a quarter of its listing are in the USA – and 57 percent of these listings were for an entire apartment, home or rental unit, which include everything from Airstreams to houseboats.

Eighty-nine percent of U.S. respondents in a recent TripAdvisor survey plan to take a leisure summer trip this year - chances are good they'll be renting, swapping or sharing when they get there.

Read other Did You Know? posts in our series to celebrate National Homeownership Month.

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