Today’s family vacations are changing from that of the Griswold’s family vacations. You didn’t always make reservations, but your trip was always planned out months in advance. You didn’t ask your cell phone where the nearest hotel was or have your car direct you to a place to stay that had a Denny’s near by. You simply just “found it.” Your vacations were also much simpler back then. We either traveled to visit family or it was the coolest attraction that you heard of while conversing with coworkers at the water cooler.
Welcome to 21st century. We are all about the experience and knowing what the locals do. This statement is always funny, as I grew up with a few folks in the panhandle that have still yet to visit Disney World. Everyone automatically thinks we all have been to Disney if you live in sunny Florida.
So what does this have to do with the vacation rental industry and it’s expansion? It has everything to do with it. After many homes fell victim to the insurance and mortgage crisis in 2008 and beyond, many folks that dreamed of vacationing in Florida scooped up many houses and had hopes of renting them out. Then it became cheaper to buy; welcome to short term rentals. Property Management companies’ inventory slowly began to expand and a trend began to flourish. That is one form of expansion. The other expansion is simply this, popularity.
More and more families are traveling together and not just to Disney. They are adventuring to places they pick on a map or from a blog they read. The way travelers can find their destination today is endless. And when they find that destination, one of the top items on their agenda is to experience the lifestyle, hence vacation rentals. What better way to truly experience the lifestyle than a vacation rental? Cook the local favorite foods, enjoy the local surroundings, be near those that live there and truly embrace the experience.
Another reason travelers are embracing vacation rentals is for the simple fact there is more room. Today’s traveler doesn’t always play until they drop and just look for a place to rest their head. They want to put the kids to bed in another room, sprawl out on the couch and relax while they discuss their current adventures.
I did not conduct any surveys or seek out the latest statistics from AirBnB; I have simply watched and experienced this over the years as well as listen to my clients as they share their experiences with me.
Before I end this blog and get back to taking care of our clients, I must share with you another expansion of vacation rentals that some property managers haven’t heard of. Welcome to the vacation rentals of RVs. Yes, Recreational Vehicle sites have experienced an increase in short term stays. This could be due to the current trend of families becoming mobile so they can see the world while their children are still young or possibly travellers enjoying the experience of the open road. A coworker of mine thinks it is because they want to bring a piece of home with them on their travels; whereas, I think they want to feel like they are camping without the hard ground that comes with pitching a tent. Nonetheless those in the lodging world need to keep an eye on this expansion of RV Resorts. They found their niche and know people that can help them capitalize on it.