VRMA Administrator
Hostfully polled 375 property managers and individual hosts (75 percent in the U.S., 13 percent in Europe, and 12 percent in the rest of the world) for its 2022 Vacation Rental Industry & Hospitality Report. The results indicate stable direct bookings percentages. Direct bookings and referrals comprised about 19 percent of reservations in 2022, down from 24 percent in 2020 and 21 percent in 2021; yet larger property managers cited a higher percentage of direct bookings than smaller property managers and individual hosts. “What is fairly consistent and interesting from last year and this year is: as you grow in portfolio size you get more direct bookings as a percentage of your total bookings, you get fewer Airbnb bookings as a percentage of your total bookings, you get approximately the same amount of Vrbo bookings as a percentage of your total bookings, and you get more Booking.com bookings as a percentage of your total bookings,” said Hostfully President David Jacoby. The survey found portfolio expansion became the leading growth strategy for vacation rental property managers and individual hosts this year. Roughly 80 percent of respondents reported fiercer competition in 2022, up from 57 percent in 2019 and 61 percent in 2021. Competition was especially intense when the rentals were near major tourist attractions. “Revenue and income continues to be on the rise for most operators (although the trend is slowing), technology adoption is still climbing, and guest experience automation solutions have kept their place in post-pandemic vacation rental businesses,” Hostfully observed.
Skift.com (12/11/22) Dennis Schaal
