“ THE INVENTORY
following year . In 2008 , a small San Francisco startup called Airbnb launched to little fanfare . Seven years later , in 2015 , Expedia purchased HomeAway , the parent company of VRBO , further setting the stage for the mainstreaming of the vacation rental sector .
Meanwhile , the inventory of vacation rental homes was expanding worldwide .
“ Today ’ s vacation rental home market offers homes with every feature and amenity you can imagine ,” says Trisha Severs , Project Manager for 360 Blue . “ And they offer them in nearly every destination on the planet , giving travelers access to accommodations that truly resonate with them — whether they ’ re traveling for business , a traditional family vacation , or a special occasion .”
Yet the vacation rental market was but a small fraction of the size of the hotel market . However , its
OF VACATION RENTAL HOMES
EXPANDED WORLDWIDE ”
popularity was about to skyrocket under the most challenging circumstances imaginable .
ALONG CAME COVID-19
In the spring of 2020 , commercial airline flights were being canceled by the thousands and cruise ships were called back to port , some even mothballed . Many hotels remained open but mostly empty as bookings dried up . On March 16 , 2020 , Disney World closed . Meanwhile , travel bans between states proved a near-death experience for many in the travel space — including the vacation home rental market .
Domestic travel restrictions had eased by late spring , however , and Americans were primed to hit the road . But they were planning a very different vacation than they had in the past — though few in the industry recognized the nature and scope of what was happening .
RISE OF VACATION HOME RENTALS TRAVEL beachLIFE 19