Exciting news came from Escapia last week when they released their Vacation Rental 2010 Annual report.
After about 18 months of bad news, it appears that the industry is looking up! While numbers were down for 2009, they clearly were trending up during the fourth quarter. This is partly due to the comparison to an absolutely miserable 4Q of 2008. Nonetheless, it looks like the market has stopped falling and is holding steady (at worse) and even improving a bit!
Here is their month-to-month comparison for 2009 VS 2008 bookings:
This report is a must-read for any student of the Vacation Rental industry. They offer a free download with over 20 pages of data.
Thanks Escapia for making this data public!
Escapia is an industry leading provider of property management software, bookable websites, web distribution and yield management for the vacation rental management industry. With over 300 active users, their on-demand software offerings are among the hottest in the VRM industry.
We have a property managment & vacation rental business in the Algarve, Portugal and have found that the trend here has continued into the 2nd quarter of 2010. Let’s hope it continues and we can finally shake of this recession.