The Vacation Rental Management Association (VRMA) announces the release of its 2019 Vacation Rental Industry Survey Report.
Produced and distributed in partnership with data intelligence company Transparent, the report—first of its kind in the industry—presents key survey data on marketing, distribution, technology and other vacation rental market trends at the state and national levels across North America.
“VRMA is extremely excited to release our Vacation Rental Industry Survey Report,” said Mike Copps, executive director of VRMA. “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.”
Key findings in the report are tied to growth in all aspects of the industry, including growth in both revenue and expenses for property management companies. Year-over-year bookings are experiencing growth across the board, with an additional increase anticipated in direct bookings due to greater marketing spend and sophistication of distribution tactics. Technology utilization also is growing as more potential partners enter the space. Despite this growth, the report finds that two challenges persist across the industry: hiring and retaining qualified staff, and dealing with potentially harmful regulations.
“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,” said Copps. “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.”
Access more information and download the 2019 Vacation Rental Industry Survey Report here.
