According to a new market report, the vacation rental management division continues to be consistent with the overall popularity of the sector. The survey by Hostfully revealed that in 2018 when more than 115,000 companies were managing holiday rentals, it has now risen to more than 140,500. Vacation rental agencies (VRMCs) look after an average of 79 properties.
The Vacation Rental Industry Statistics report further breaks that number with about 33,000 management firms in the United States, more than 60,000 in Europe and more than 24,000 management firms outside Europe and North America. Hostel analysis also looks at the technology preferred by VRMC and how much is spent on technology on a monthly basis. Perhaps unnecessarily property management platforms are raised as the technology of choice for 45% of companies followed by 19% of product manufacturing equipment.
The report says the average VRMC spends about $51 per month on technology, including its asset management systems and other software. A number of factors were considered, including the bulk pricing, number of consolidations and the cost of maintaining them, and the average number of additional software used by the property management system provider as a monthly expense account.
The organizers said that $51 per month can seem like a lot of assets, gain skills, increase income and improve guest experience means the systems “seemingly pay for themselves.” As the leisure sector continues to grow, so does the need for professional management services and automation. The organizers said that $51 per month can seem like a lot of assets, gain skills, increase income and improve guest experience means the systems “seemingly pay for themselves.” As the leisure sector continues to grow, so does the need for professional management services and automation.
A recent AirDNA report found that demand in the United States is returning to more than 2019 levels. The survey further said that between 2022 and 2021, the growth in 2020 may be in the vicinity of big cities compared to the demand for small towns and rural locations. AirDNA further believes that the sector will continue to be professional with predictions for winners that they communicate best with customers.