One of the largest vacation rental software companies released the trends in reservations they have seen between 2009 and 2010. Although it does not encompass all vacation rentals, it does give an overall good idea of what is going on in the vacation rental industry.
Reservations around the US were up 14% in March 2010 from March 2009. This was the best month in 2010 thus far. It is expected that there will be a larger jump in the summer months due to what is already currently booked.
Here is some Hawaii specific data for the first quarter of 2010 in comparison to 2009:
Number of Reservations- Up 36%
Revenue Change- Up 32%
Number of Nights Stayed- Up 33%
Average Days Booked In Advance (119)- Up 2%
The average nightly rate stayed the same
The average stay and average total rental revenue went down 2%
The only negative data is that “bargain hunting” seems to be increasing drastically. People either seem to be booking well in advance, which is probably repeat guests or within 30-45 days prior.
This data is very promising for the remainder of 2010. The number of night books for the second quarter is almost up 40% at this point in 2010 from 2009.
Data supplied by Instant Software