Vacation Rental Market Update
Over the past five years, there has been fluctuation within the leisure travel industry. One thing has become evident; the vacation rental industry popularity is on the rise.
As seen below, 2010 marked a change for the industry as more people are looking to vacation. In early 2010 a national level campaign was started promoting vacation rentals helping the vacation rental industry to see a larger increase in guests than the hotel industry. Though the statistics for 2011 for vacation rentals are not yet published nationally, some trends were sited recently in a survey completed by TripAdvisor, an authoritative company within the travel industry. Of 1,400 travelers who took part in this survey, 40% of the respondents said they would be staying in a vacation rental during 2011. Much of this was attributed to more space, full kitchens and a better overall value than a hotel.
As it stands right now, both the continental United States and the Hawaiian Islands are seeing positive results with the number of arrivals still gaining momentum over the past few years. Though tourism is still below that of 2005, the outlook does look promising.
According to data obtained from the Hawaii Tourism Authority, the Hawaii travel industry and the vacation rental market are on faster tracks for recovery than that of the United States travel and vacation rental industries. Below it can be seen that arrivals have been on the rise since 2009 within the state of Hawaii; however, the hotel industry is not experiencing the same growth as the vacation rental industry.
As Waikoloa Vacation Rentals moves further into the 2nd half of 2011, August offered very promising statistics and reservations are continually coming in for the fall. The outlook for both the vacation rental market and Waikoloa Vacation Rentals looks positive. Superior guest service, cutting edge marketing and an overall emphasis on guest experience will continue to push Waikoloa Vacation rentals forward further into 2011 and beyond.