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As you may recall, VRMA sponsored a 2008 survey of the vacation rental market by PhoCusWright, one of the travel industry’s prominent research authorities.
That survey concluded that the vacation rental market was a $24 billion industry in 2007, generating revenue equaling more than one fifth of all hotel room revenue and 8% of the total US travel market. And, further, in resort areas, vacation rentals actually tend to be responsible for a much higher share of revenues and can far exceed the revenue generated by hotels.
Please read this new research defining State and Local Economic Impact of the Vacation Rental Industry just released by Instant Software and Vacation Rental Managers Association (VRMA).
Top Findings: The vacation rental industry is an economic engine that facilitates non-resident investment in resort communities and drives local real estate, finance, and insurance industries. The vacation rental industry is a major “Tool for Growth” in these communities, often poorly understood by the local powers that be.
Read This Report as it is designed to help vacation rental managers educate themselves and state/local governments regarding the impact of the vacation rental industry on state and local economies. >Vacation Rentals Generate Billions in Annual Real Estate Sales >Vacation Rentals Generate Millions in New Construction >Rental Homes Generate Millions in Insurance Premiums >Vacation Rentals Generate Billions Finance and Mortgage >Rentals Can Dominate Resort Area Property Tax Revenues
Download the entire report here! Thank you VRMA and Instant Software!! GREAT JOB! Please email: joel@bookt.com or call 1-800-941-0868 x 934. Why? There has never been a better time to take advantage of these trends and to Get Bookt!
Posted by Joel Fellman on 9/16/2009 0 Comments