Although there does not seem to be any drastic changes in the economy, the vacation rental industry seems to be improving. Many feel that part of this is a result of more thorough marketing and awareness of vacation rentals while others feel that it is due to the economy stabilizing.
In early February HomeAway, one of the leading marketing firms of vacation rentals, kicked off a large advertising campaign promoting vacation rentals versus hotels. It started with the first vacation rental Super Bowl ad, which sparked further mentions of it throughout the internet.
The first quarter of 2010 was up 7% in reservations from the first quarter of 2009. There number of future bookings is also well up from 2009. The two states experiencing the greatest growth are Hawaii and Colorado. The two states that experienced the least amount of growth were Arizona and Massachusetts.
While the vacation rental industry did see an improvement, the hotel industry did not see as much of an improvement. Although these are just statistics from the first quarter, the vacation rental industry is looking stable for 2010.
Most hotel rooms are exactly what the name implies, just one room with a bath. Most luxury condos offer two to three bedrooms with a full kitchen and baths. This can be an important feature for anyone wanting moments of privacy, be it a party of adults, parents with young children, or teens. The space that you find in a condo versus a hotel room is especially comforting. Most condos also come with a full size washer and dryer, which saves vacationers the hefty expense hotels charge for laundry.
A fully stocked kitchen is no comparison to the mini fridge that normally comes with a hotel room. All full size major appliances are provided, along with smaller ones such as coffee makers, blenders and toasters. Once you purchase the groceries for your vacation, you have the option of eating in instead of paying to dine out for every meal and snack. This will save a ton of money over the duration of your vacation. It also provides your party with an extreme convenience.
In the instance where you run short on clothing, you won’t have to purchase additional pieces when you stay at condos. If you packed too little, or if you accidentally stained your outfit, you can have them laundered in the convenience of your condo. No outrageous fees to send out your clothing through hotel services.
Staying at a vacation condo rental offers you the same hotel conveniences as you are typically located within the resort areas. Each property location typically has its own pool, some include a fitness center and barbecue pavilion.
Next time when you vacation please consider staying at a luxury condominium rather than a hotel.
There is a new vacation rental website that will be great for both vacation home owners as well as travelers. www.vacationrentalstop.com will offer an array of vacation rentals in the USA for travelers to choose from. For vacation home owners they are currently offering a great deal on new listings and offer a nice look to their site to make your property look good.
For the first few months they will will focusing on Hawaii vacation rentals and Florida vacation rentals. With the owners of the site currently owning a vacation rental in both Hawaii and Florida, they know those two markets really well.
Throughout the last two years with the economy struggling some trends regarding travel have emerged.
1) Staying in Vacation Rentals- More and more people are staying in vacation rentals. This trend has increased almost 20% over the course of the last two years. Also due to the real estate market struggling renters are able to get better rates.
2) Group Travel- By staying in vacation rentals, it allows multiple families to travel together and stay in the same accommodation. This cuts back on having to reserve multiple hotel rooms.
3) “Closer to Home Vacations”- In 2008 a lot of people stayed close to home for vacations. This cut back on airline costs, rental car costs, and also it allowed for a shorter vacation. In 2009 we have started to see this trend diminish. Due to what happened in 2008, airlines are offering great rates to get people traveling again.
In the real estate market, we have obviously seen a drop in sales. One thing that has increased is interest in timeshares along with multiple ownership properties. The trend regarding timeshares could be due to the economy and vacationers getting something for free if they attend. That is not certain though.
In 2009 the condo rental market seems to be coming more competitive. Here are some reasons why:
1) With the economy struggling many homeowners are doing whatever it takes to get the most out of their condo. In the slow times you will see prices reduced almost in half because they are looking to just get whatever they can versus it staying unoccupied.
2) In 2006 and 2007 many people purchased condos in speculation. When they found out they were going to be unable to sell them they put them on the vacation rental market causing more competition.
3) The last reason is not as big of a reason as others, but it still has caused the market to become more competitive. Some owners that have owned condos have let them sit vacant rather than renting them out. When the economy became soft they looked for additional income and thought it would be better to generate it from their vacation rental property rather than let it sit empty.
Setting up a vacation at times can be overwhelming. It can be tough to find the right flight, destination, and accommodation. We decided to put together a site that would give you more information on these items.
Although in some cases a hotel is the best option, we feel the best value is through vacation rentals. We have a lot of knowledge regarding vacation condo rentals in Hawaii as well as Florida. Throughout the course of this blog we hope to share a lot of information with you regarding vacation rentals in these areas and expand to more areas.
We will also provide you with information on luxury hotels in Hawaii and Florida.
