A recent article published in the Summer edition of the VRMA Review magazine asked the question: Is 2015 the vacation rental industry's 1952 moment?
Here's an excerpt from that article:
Without question, the vacation rental industry is poised for a historic shift in 2015.
How can that be said so authoritatively? Yes, it is true that HomeAway is now a full decade into the revolution of lodging, with its global consolidation of the peer-to-peer rental space, and Airbnb’s latest valuation is believed to be $20B. Given these facts, most people can be forgiven for believing that the tectonic shifts set to transform the hospitality industry have already occurred in recent years and there is no more room for change.
However, the growth of these companies (and others in the industry) merely set the stage for more momentous changes soon to come, including the transformation of the vacation rental industry from an estimated $100B cottage industry to one that is more than double that size and dominated by massive, internationally scaled entities.
Lessons from the evolution and consolidation of the hotel industry in the 1950s and 1960s are informative in understanding the potential for this seismic growth impacting the lodging industry decades later.
The infographic below shows a timeline of how the hotel industry and vacation rental industry have evolved over the years. Given the acceleration of the vacation rental industry, what are your predictions for the future?