Technavio’s latest report on the global vacation rental market provides an analysis on the key trends expected to impact the market outlook from 2015-2019. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Increased professionalism
The report states that with a growing number of vacation rental websites emerging and the commoditization of rentals taking place, the market is in a danger of damaging its reputation. In addition, owing to the growing lucrativeness of the market, competition is intensifying from both direct and indirect competitors. Hotels are increasing their amenities and technologies to attract guests. Boutique hotels are also becoming popular. This is leading to increased efforts by players operating in the vacation rental market to offer more value to their guests.
According to Abhay Sinha, a lead research analyst at Technavio for consumer services, “Professional vacation rental managers and websites are leveraging technology, adopting professional tools, standardizing products, and offering personnel training to provide a seamless experience. Airbnb has plans to provide more alternatives and services to its customers, which cater to their needs from the beginning of the vacation to arrival back home. All these factors are expected to create remarkable experiences for the customer.”
Read more @ http://www.businesswire.com/news/home/20160308005098/en/Technavio-Announces-Top-Emerging-Trends-Impacting-Global
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