Short-Term Rental Is Dominating the Travel Industry – Here’s Why

Short-term rental is becoming an increasingly popular way to travel. It offers many advantages over traditional hotel stays, and more and more people are choosing this type of accommodation. Also, the rise of platforms like Airbnb has made it easier than ever to find and book short-term rentals. In this blog post, we will discuss the reasons why short-term rental is dominating the travel industry. We will also look at some of the benefits that come with booking a rental property instead of a hotel room. So, if you are thinking about taking a vacation in the near future, be sure to read on!

More Bookings Growth Than Hotels in 2022

One of the main reasons why short-term rental is doing so well is because it is growing faster than hotels. In fact, a recent report from Skift showed that bookings for vacation rentals are expected to grow by 25% in 2022, while hotel bookings are only expected to grow by 12%. This is largely due to the fact that people are still hesitant to travel and stay in hotels, but feel more comfortable doing so in a private rental.

If you are looking for a rental in Singapore, you need to be informed about the latest changes instead. The Singapore Tourism Board has recently announced several changes to the Short-Term Rental Act, which has come into effect on May 15, 2021. These changes will impact the way that vacation rentals are taxed, and will also require all hosts to be registered with the STB.

More Affordable Than Hotels

Another reason why short-term rental is becoming more popular is because it is generally more affordable than staying in a hotel. This is especially valid if you are taking a family or large group of people on your trip.

When you book a hotel room, you usually have to pay for each person separately. But when you rent a vacation home, the price is often all-inclusive. This means that you can save a lot of money on your accommodation, which can be used to spend on other things during your trip.

Also, many vacation rentals come with amenities like a kitchen and laundry facilities, which can further save you money. For example, you will not have to eat out all the time or pay for laundry service. If you compare prices, you will quickly see that vacation rentals are often a much better deal than hotel rooms.

Greater Privacy and Flexibility

Another advantage of short-term rental is that it offers greater privacy and flexibility than hotels. When you stay in a hotel, you are often sharing communal spaces with other guests. But when you rent a vacation home, you usually have the entire property to yourself. This means that you can come and go as you please, and do not have to worry about other people on the property.

Also, many vacation rentals offer more flexible check-in and check-out times than hotels. So, if your flight is delayed or you want to stay an extra day, you can usually do so without any problems. For example, Airbnb offers a “flexible cancellation” policy, which allows guests to cancel their reservation up to 24 hours before check-in. This is a great option if your travel plans change at the last minute.

Safety & Hygiene in Times of the Pandemic

One of the most important reasons why short-term rental is doing so well is because it is seen as a safe and clean option in the current climate. With the Rona outbreak, many people are hesitant to stay in hotels. But vacation rentals offer a much safer environment, as they are usually private and self-contained. This means that there is no need to share communal spaces with other people, and you can be sure that the property is clean and safe.

Also, many vacation rentals now offer contactless check-in and check-out, so you do not have to worry about coming into contact with anyone during your stay. Additionally, many hosts are now providing extra cleaning and hygiene measures, such as hand sanitizer and disinfectant wipes. This way, you can be sure that your rental is clean and safe, and that you are doing your part to prevent the spread. So, if you’re looking for a safe and clean place to stay, be sure to consider a vacation rental.

Making Guests Feel Looked After and Special

The hospitality industry has always been about making guests feel looked after and special. This is something that short-term rentals do very well. With the rise of platforms like Airbnb, hosts have to go above and beyond to stand out from the crowd and make their guests feel at home.

This extra level of care can be anything from leaving a welcome note and some local snacks out for guests, to providing detailed recommendations on the best things to see and do in the area. No matter what it is, these little touches make all the difference and are one of the main reasons why short-term rentals are becoming so popular.

Great Guest Communication 

Another big reason for the rise of short-term rentals is the communication between hosts and guests. With online booking platforms, it is now easier than ever for hosts to keep in touch with their guests and answer any questions they might have.

This was not always the case with hotels, where guests would often have to go through multiple channels (reception, concierge, etc.) to get the information they needed. This great communication means that guests have a much better experience and are more likely to book again in the future.

Control Over the Rental Property

When you book a hotel room, you are limited to the space that you have been given. This can be frustrating, especially if you are traveling with a family or group of friends. Short-term rentals give guests much more control over their accommodation.

Not only do they often have more space, but guests can also choose rentals that are better suited to their needs. For example, if you are looking for somewhere with a kitchen so you can cook your own meals, then you can easily find a rental that has this. This level of control is one of the main reasons why short-term rentals are so popular with travelers.

Urban Recovery After the Pandemic

Another reason for the rise of short-term rentals is the recent recovery of urban areas after COVID-19. More and more people are now looking to travel to cities for work, leisure, or both.

This has led to a big increase in demand for short-term rentals, as they offer a more flexible and affordable alternative to hotels. This is especially true for business travelers, who often need to stay in a city for just a few days or weeks at a time.

Authentic, Special, and Memorable Stays

Finally, one of the best things about a vacation rental is that it allows you to have an authentic and memorable experience. When you stay in a hotel, you often feel like you are in a generic space that could be anywhere in the world. But when you rent a vacation home, you can immerse yourself in the local culture and really get a sense of place.

Also, many vacation rentals are unique and special in their own way. For instance, you might stay in a converted barn, a historic home, or even a treehouse. This is something that you just can’t experience in a hotel. Or, if you’re lucky, maybe your rental property comes with its own pool or hot tub! So, you are sure to have a one-of-a-kind experience that you’ll remember for years to come.

Will Short-Term Rentals Last?

The rise of the sharing economy has changed the travel landscape forever. And it does not seem like short-term rentals are going anywhere anytime soon. With the continued growth of platforms like Airbnb and the increasing popularity of vacation rental properties, it is clear that this trend is here to stay.

So, if you are looking for a unique, authentic, and memorable travel experience, then a vacation rental is definitely for you.

The Average Nightly Rate Increased by 20% in the Last Year

One of the most interesting things about a vacation rental is the rate at which it has been growing. In just a few short years, it has become one of the most popular types of accommodation for travelers.

And, according to recent data, the average nightly rate for vacation rentals has increased by 20% in the last year. This is a huge increase, and it shows that vacation rental is becoming increasingly popular with travelers from all over the world.

There are many reasons why short-term rental is becoming increasingly popular. In this blog post, we have discussed just a few of the most important ones. If you are thinking about taking a vacation in the near future, be sure to consider renting a vacation home instead of booking a hotel room. You are sure to have a much better experience! Thanks for reading! until next time!  

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