Vacation Rental Houses vs Luxury Hotel Rooms
Renting a Home Helps Luxury Travel Fit in a Budget
Jul 3, 2009
HomeAway is one of the leading online vacation rental house companies. The May 2009 HomeAway Vacation Rental Marketplace Report (a new quarterly report) found that two-thirds of vacation rental property owners have offered vacation packages or travel incentives this year. The in-house research also has shown that:
- Travelers are using vacation rentals for everything from weekend getaways (38 percent) to multi-week vacations (21 percent).
- Travelers are seeking out vacation rental properties in large cities – New York City was the second most-searched destination during the first quarter of 2009.
- In the past 12 months, the economy played an important role among owners who began to rent their vacation homes to travelers.
Luxury Travel spoke with Justin Halloran, VP of Global Initiatives for HomeAway, about the benefits of vacation home rentals (particularly versus stays in luxury resorts and hotels).
Where are some of the most popular HomeAway vacation rental home locales for luxury travel?
The vacation rentals on HomeAway.com range from condos to castles, and cost an average of $1,650 per week, so it’s difficult to pinpoint the most popular destinations for luxury travel. The more exclusive places like the Hamptons, the California wine country, private and remote islands, etc. tend to feature more high-end properties, although most destinations do not exclusively cater to a particular type of vacation.
Many people are reducing or even eliminating their travel budgets this year. For travelers feeling the economic pinch, what are some advantages to vacation rentals?
This year, the economy does have cash-strapped travelers making sure each cent counts, so when it comes to accommodations, you really can’t find a better value than vacation rentals. The biggest advantage: you can get a whole house for less than the cost of a hotel room, complete with amenities and space that add to the value. As a dad with three children under the age of five, I no longer stay in hotels when I am traveling with my family because vacation rentals allow us to have a more enjoyable vacation together at a more affordable price.
To be fair, what are some advantages to staying in hotels and resorts?
I travel frequently for business and will say for quick tips, a hotel and room service make good sense. Daily housekeeping and concierge services are an option with some vacation rentals, but you have to look for them. The services and amenities offered in a vacation rental are as varied as the properties themselves. So if these type of are important for you, HomeAway recommends speaking to the owner or property manager about your needs and preferences.
Are there any plans for expansion at this time?
HomeAway.com features about 180,000 properties, representing 120+ countries, but we are always keeping an eye out for acquisition opportunities in established and emerging markets. We’re currently looking in to opportunities in Australia and South America; however nothing is concrete at this time.
Thank you. Clearly, renting a vacation home is a terrific way to have a luxury vacation on a budget.
 |
 |
 |
 |
 |
