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.
Kolea is the premiere vacation rental destination in the Waikoloa Beach Resort on the Big Island of Hawaii. Being the only beachfront complex in the Waikoloa Beach Resort, it is very desireable. Not only is the proximity to the beach great, but it is also close to all the shopping and two hotels in the Waikoloa Beach Resort.
Kolea offers two and three bedroom villas ranging from mountain to beachfront views. All of the villas have essentially the same finishes with just a difference in size and views. The smaller two bedroom villas at the back are roughly 1300 square feet while the beachfront three bedroom penthouses are close to 2000 square feet.
Kolea 8C is the most popular three bedroom beachfront penthouse. With wall mounted LCDs throughout and a gourmet kitchen you are sure to enjoy yourself inside. As you step out on the spacious lanai with expansive ocean, beach, and mountain views you will not be dissatisfied with your choice to stay at Kolea 8C.
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.
The Hawaiian Island of Kauai offers a tranquil setting and some amazing resorts. While you will find some high class hotels such as the Hyatt at Poipu, you will also find some amazing condos at Waipouli Beach Resort, the #1 rated resort in the Hawaiian Islands. Waipouli Beach Resort offers amazing beaches and is just a short drive away from amazing golf at Princeville. Princeville is the home of St. Regis Resort and you will find luxury beachfront condos, Puu Poa, next to that. If you budget is a little tighter for one of these high end resorts you can enjoy condos at Kuhio Shores that offer amazing ocean views for under $200/night.
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.