FEATURED PROPERTY - Il Paradiso is running a 15% discount as well as including a ✨FREE✨ 8-person golf cart! Call us today @ 239-472-2100 or email us @ info@gokingfisher.com today to book your stay!
The vacation rental industry has experienced remarkable lows and ceiling-shattering highs over the past decade, and much of that is thanks to the coronavirus pandemic and how it changed travel. While the short-term rental industry experienced a great deal of negative impact in the early days of travel bans, it soon became a hot commodity for travelers shunning the traditional hotel experience. Here are some highlights of how the vacation rental industry has morphed over the past years.
Technology continues to change the world that we live in, and the vacation rental industry is no different. Everything from automation to smart technology has made it easy to review contracts, get tours of properties, schedule stays, and even unlock doors. Those in the rental industry who are willing to embrace change continue to succeed, and working with a partner like Kingfisher Vacations is a great way to ensure you remain at the forefront of new technologies that make things easier for property owners and renters.
While a great deal happened over the past decade, nothing impacted the vacation rental industry more than the COVID-19 pandemic. Some companies found that occupancy rates dropped dramatically in the wake of travel bans and restrictions. However, the market eventually bounced back better than ever. Many tourists preferred exploring the vacation rental industry instead of traditional hotels, as they would be around fewer people and feel safer.
Thanks to that growth and the additional surge in tourism post-pandemic, the rental market is currently forecast to reach over $20 billion by the year 2026. Both short-term and long-term vacation rental industry properties have plenty to look forward to, even in secondary markets that you might not associate with strong rental prospects.
As we look ahead to the promising future in the vacation rental industry, here are some of the trends we’re seeing:
⦁ Rural and smaller markets are more promising, as many people continue to move from cities into the suburbs and travel to more rural communities.
⦁ Long-term vacation rentals are increasing in popularity, as many people experienced the benefits of rentals during the pandemic and want to keep using them.
⦁ Outdoor travel destinations are remaining popular, as travelers enjoy heading to natural attractions outdoors that feel ‘safer’ than indoor attractions, even as the pandemic has wound down.
Kingfisher Vacation Rentals can help you remain agile and adapt to new changes in future markets, including challenges! How can we help you explore the vacation rental industry?
Kingfisher Vacations is actively open and assisting owners every day with their recovery process! We are ready to bring new properties into our award-winning program. If you are interested in discussing how our unmatched marketing approach and comprehensive owner services will benefit you, call today! For more information about Sanibel and Captiva, visit our website, email us at info@gokingfisher.com, stop by our Captiva office or give us a call today at 239-472-2100.
