Vacation rental market to see a massive growth

According to the latest research conducted by the company PhoCusWright, the vacation rental market will now have a great influence on the online agencies, online travelers, hotels and resorts.

Their study is scheduled to be released on January 15 and is called ‘Vacation Rental Marketplace: Poised for Change’. The study states that the present vacation rental marketplace is placing more emphasis on new and available business opportunities, and this will have a great impact on online agencies and hotels.

PhoCusWright mentions that this small segment of the lodging sector has great growth potential. And this is why hundreds of millions people with venture capital have tried their luck here in recent years.

New research from the firm shows why vacation rentals are a rich landscape of property management companies. Its owners are usually individuals with not much of online exposure, but have lots of ambition.

With this new segment of the online rental market, there will be no minimum one week stay to follow, no huge deposits to pay and no need of bringing any bed sheets. This new brand of vacation rental players are now starting to think, market and do their distribution on the lines of hotels. And with the many available new technologies and online services, their new business dreams are quite possible.

According to PhoCusWright, this research gives a thorough analysis of this often overlooked and underestimated vacation rental market. This report gives a detailed description of the assessment and sizing of different available vacation rental categories and booking channels.

In addition to this, the report provides a deep look at the significant players of the market like property management companies, vacation rental guests or consumers and vacation homeowners. The study also states that only 12% of these vacation rentals were booked online in the year 2007.

However once these vacation rentals challenge traditional hotels and resorts while targeting leisure consumers, things are slotted to change. And PhoCusWright says that the first thing these online players and vacation rental management companies are doing toward this competition is to invest in online distribution and technology.

• Vacation rental market to see a massive growth  Saturday, January 17, 2009
  According to the latest research conducted by the company PhoCusWright, the vacation rental market will now have a great influence on the online agencies, online travelers, hotels and resorts.
  
  
• Convert Timeshare To Vacation Rental in Current Economy  Wednesday, January 07, 2009
  Timeshare owners who find they are over their head have the option to refinance their loan. Often owners will be able to work with the resort developer to get a new loan at a cheaper interest rate. If they feel that they cannot afford another loan they may also have the option of returning the timeshare back to the resort. One of great options for timeshare owners to convert their weeks into vacation rental. Since vacation rental business is booming, more and more people are looking to great destinations.
  
  
• More violation notices continue to go out for vacation rentals in Bar Harbor.  Monday, January 05, 2009
  Weekly rental violation notices are still being mailed out even though there is an appeal in process to change the codes for vacation weekly rentals...Currently there are several other weekly vacation rentals that are pending appeals before the board of appeals. There are several people who are taking their cases to the board because they own rental cottages and need the income they provide.