80 Percent of American Travelers Comfortable with Renting Someone Else’s Vacation Home on a Trip
The rise of the ‘collaborative economy’ in the travel industry has greatly impacted how vacation property owners and travelers experience trips, according to the ‘2013 Vacation Collaborative Economy Report’ released from Demeure.
The rise of the “collaborative economy” in the travel industry has greatly impacted how vacation property owners and travelers experience trips, according to the “2013 Vacation Collaborative Economy Report” released from Demeure, a new multi-sided marketplace that redefines the way travelers and vacation property owners share and discover unique, authentic travel experiences. 80 percent of travelers are comfortable with the idea of renting someone else’s vacation home on a trip so long as the property meets their personal standards for a vacation stay and that someone is available to contact locally if needed. Additionally, almost one in three (31 percent) vacation property owners in the United States are eager to travel somewhere new for a change, but feel guilty not utilizing their property and losing out on money spent to maintain it. Among these owners that feel guilt, almost half (47 percent) would favor renting or sharing their vacation home in exchange for the ability to visit new places.
“Regardless of the destination, vacations should always be a time to tune out and unwind. In our fast-paced, 24/7 world, it is more important than ever to have time away from work and life responsibilities, reconnect with loved ones and recharge our batteries.”
“One of the main concerns about owning a vacation property is the cost to maintain it year after year,” said Peter Schwartz, Chairman and Chief Executive Officer of Demeure. “The level of responsibility placed on vacation property owners limits them from experiencing other vacations or traveling to new and exciting locations. At the same time, travelers routinely express frustration with the same travel options and dynamics, and want new and exciting travel options. The collaborative economy enables both travelers and vacation property owners to get what they want through better utilization and understanding of amazing travel resources, such as vacation properties, that are already available.”
The report also found that travelers report better experiences when staying in a vacation rental home, such as:
- More than two out of three travelers (68 percent) that spent their most recent vacation in a home rental had a very good vacation experience.
- More than half of travelers that stayed in vacation home rental or cottage felt very relaxed (51 percent).
- More travelers that stayed in a vacation home rental (47 percent) felt their vacation experience was unique.
In addition to specific insight on the role of the collaborative economy in the American travel experience, the “2013 Vacation Experience Report” also asked travelers to share their overall impressions and attitudes towards their most recent vacation. Surprisingly, almost half (47 percent) of American travelers felt stressed on their most recent vacation. More than one in every four (28 percent) travelers admitted the largest cause of stress were the lack of local knowledge, not knowing where to go, what to do and how to get there, while 80 percent did not want to return to work after their most recent vacation.
“Many Americans are unable to fully decompress and relax while on vacation,” said Peter. “Regardless of the destination, vacations should always be a time to tune out and unwind. In our fast-paced, 24/7 world, it is more important than ever to have time away from work and life responsibilities, reconnect with loved ones and recharge our batteries.”
From Demeure’s exclusive access to properties not available on other platforms, and Private Assistants and local, on-the-ground hosts that curate unique experiences for travelers, Demeure is focused on changing the way people travel. Travelers have the option of hiring a Private Assistant per trip or annually to help create a memorable trip beyond the tourist trail. Demeure’s proprietary Marketplace Management System unlocks greater value for both travelers and property owners. Travelers can plug into the marketplace to conveniently find and book deals in the company’s curated portfolio of thousands of distinctive properties without needing a membership. Trading in the marketplace empowers vacation property owners to put their unused capacity to work, trading empty nights to purchase travel elsewhere in the portfolio, or simply list for cash.
“Our customers consistently praise how Demeure goes above and beyond to provide unique, quality travel experiences with a hassle-free service network,” said Peter. “Vacation property owners have easily traded in nights for trips across the globe – something they say wouldn’t have been possible otherwise due to the cost of maintaining their current vacation property and other barriers. Just recently a property owner traded time in his vacation home to travel to three different properties in Demeure’s expansive list of curated properties, which was a much more significant value than simply trading in their property for cash. By using Demeure, customers are granted the peace of mind knowing that they can always find exactly what they are looking for and pay for this travel with unused time in their vacation property.”
Demeure operates a dynamic, multi-sided marketplace powered by its patent-pending Marketplace Management System (MMS) where travel consumers and suppliers to the industry book authentic travel experiences, list properties, and trade in the market. Demeure’s proprietary technology lets owners trade empty nights to purchase travel anywhere in Demeure’s curated portfolio of thousands of professionally hosted properties. This marketplace activity creates significant value for everyone by unlocking discounts of 35%-80% off. At the core of the marketplace is a platform that enables service professionals to tap into new sources of revenue. The platform is designed with the highest level of privacy to keep travelers and service providers in control of their data. Demeure was founded in 2009 in Waterloo, Canada with the aim of redefining the vacation rental, home exchange, and destination club industry.
Demeure commissioned YouGov Plc to poll the views of a representative sample of 1,120 U.S. adults. Fieldwork was undertaken between August 21-22, 2013. The figures have been weighted and are representative of all US adults (aged 18+). The research was carried out online. For more information about the survey, visit https://static.demeure.com/2013-vacation-and-collaborative-enonomy-report.pdf.
Categories: Travel Industry News