1.2 Vacation Rental Markets

When VRBO began, destination markets were the primary locations for second homes/vacation rentals. Orlando, Destin, The Outer Banks and Panama City Beach are good examples.

Over time, and with the advent of Airbnb, the breadth of locations where short-term rentals can be found has grown significantly. The range of markets includes:

• Beach destinations
• Mountain areas
• Cities and Urban locations
• Lakes/Nature locations/State & National Parks
• Theme Parks
• Off the Beaten Path

The most sigificant growth has been in city and urban accommodations boosted by the demand from Airbnb travelers.

Here’s 10 reasons why vacationers visit cities and are now preferring to stay in vacation rental properties:

• Conventions & Conferences
• Exhibitions & Trade Shows
• Theatres and Music Venues
• Medical facilities – Specialist hospitals and med schools
• Colleges
• Sporting Venues
• Museums and Art Galleries
• General tourism
• Historic Districts
• Theme Parks

In fact, anywhere that has an influx of inbound travelers is a location prime for being in demand.

‘More visitors are staying in Airbnbs in Utah, where the prevalence of the home-sharing and vacation rental platform is outpacing some neighboring states.’ Salt Lake Tribune.

For more evidence of the variation in short-term rentals, and to get a further perspective on the industry, watch the Stay Here series on Netflix. Hosted by an LA realtor who has seen the rise in demand of vacation rentals and who encourages his second home investors to consider this area of income generation, it will give you a great insight into the business.

You can also listen to Heather’s interview with Peter Lorimer from PLG Estates here.