New Report Shows That the U.S. Recession Drives Vacation Rental Bookings Down More Than 25%
Escapia Vacation Rental Research Provides Property Managers with Information and Insight to Support Smart Decisions
SEATTLE – December 15, 2008 – Escapia Inc., (www.escapia.com), the #1 provider of web-based management and marketing solutions for vacation rental managers, announced that Escapia Research™ recently published several reports on the vacation rental industry. Escapia Research™ compiles data from hundreds of thousands of vacation rentals bookings across the nation. This data helps guide the way vacation rental managers run their business and is particularly helpful as managers work through the challenges of difficult economic times.
Analysis from Escapia Research is published on the Escapia Blog at www.escapiablog.com.
Recently released reports include:
-Vacation Rental Bookings are Down 25-30% Since October: Vacation rental bookings in October 2008 were found to be 24% lower than they were in October 2007. This data confirms today’s challenging travel market conditions. It also signals to managers the importance of finding low-cost ways to widely distribute properties for more online exposure, as well as taking advantage of dynamic pricing to easily offer booking incentives to guests.
- 90% of Online Consumers Search for a Stay of Less than a Week: It is no surprise; consumers are cutting back by taking shorter vacations. In fact, the overwhelming majority of searches are for stays less than a weeklong, with searches for six day stays being very popular. This data helps managers consider developing more flexible rental policies. If a vacation rental company only allows for a minimum stay of seven days, they may be missing out on many potential consumer searches and bookings.
Escapia Research™ regularly publishes new, up-to-date reports on the vacation rental industry, vacation rental bookings and stays. For the latest reports, visit and subscribe to the Escapia blog at www.escapiablog.com.