Totally VR is a network of vacation rental (VR) industry business services and VR marketing tools using today’s available technology and resources.
USDM.net, a leading Interactive Agency and Media Company, partnered with PhoCusWright, the travel industry research authority on the evolving dynamics that influence how travelers, suppliers and intermediaries connect. They had the following independent and unbiased view on the vacation rental industry:
“Large, complex, fragmented, long understudied and definitely underestimated, the U.S. vacation rental market is poised for change.”
Here at Totally VR, we agree and we do not believe that it is restricted to the United States. We believe this is world wide!
USDM.net found that vacation rentals represent a more than $24 billion opportunity in the U.S. – that is more than one fifth of all hotel room revenue and 8% of the total U.S. travel market. And vacation rental consumers are a market to covet. They are well-off, well-educated, and they travel – a lot. Nine in 10 take at least four leisure trips a year.
“The online segment is growing in both transactions and advertising, as some players, large and small move quickly to tap this fast-growing opportunity. But not everyone is moving so fast. The majority of bookings are done the old-fashioned way, at a time when nearly $100 billion in leisure travel will be booked online in 2008. Many property managers and vacation homeowners have yet to leverage the emerging business models, technologies and services that are spurring change.” – To purchase or learn more about their January 2009 study: The Vacation Rental Marketplace: Poised for Change, or contact an USDM.net consultant about the study at consulting@usdm.net.
Like PhoCusWrite, TotallyVR wants to help you make smart, profitable decisions for your vacation rental industry business. Browse through our exclusive network of vacation rental industry business services, research VR marketing tools and learn how your vacation rental industry business can use today’s available technology and resources.