Call it a respite from the recession, a rebound or an early sign of economic recovery. But whatever you call it, the 8% increase in June 2009 vacation rental bookings from a year ago is a welcome relief to managers weathering a very difficult economic climate. The increase in June bookings is one of hundreds of statistics on vacation rental trends included in Escapia, Inc.’s (www.escapia.com) vacation rental industry market trends report for the second quarter of 2009. The report is available for free download at Escapia’s web site at www.escapia.com/market_trends.html.
The trends report, the most detailed and broad-based analysis of vacation rental activity, is the second quarterly report released by Escapia, the #1 provider of web-based management and marketing solutions for vacation rental managers. The report examines actual vacation rental booking data from hundreds of millions of dollars of annualized bookings across the nation.
Topics addressed in the report include:
- Year-over year changes in total vacation rental bookings, showing the steady strengthening of bookings during the second quarter.
- Changes in the average vacation rental booking size and how the recession is impacting rental rates.
- The average length of stay for rentals and whether or not consumers are responding to the recession by shortening their vacations.
- The dramatic acceleration in the trend towards shorter booking lead times.
- Monthly cancellation rates and whether managers saw a surge in cancelled bookings during the financial crisis.
The Q2 market trends report is the second report released from Escapia’s vacation rental booking data this year and includes results both on a nation-wide and regional basis as well as comparisons to hotel results.
“We received incredibly positive feedback on the first quarterly report we released in May,” said Bill Furlong, CEO of Escapia. “We heard from managers that providing information and analysis on the overall vacation rental market gives them much needed context when understanding their own business results and making the right business decisions in the current economic climate. And travel industry analysts recognized the value of having reliable data on one of the most dynamic segments of the travel business. ”
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