According to new data, 23 percent of U.S. travelers this year (up from 21 percent last year) stayed in a vacation rental as an alternative to the traditional hotel resort during the past two years. It is now a $25.8 billion industry in the U.S. and a $100 billion industry globally. Growth in the segment is evidenced by VRMA’s rising membership, now with 769 members.
The conference also revealed that more than 50 destinations and 25 states are reviewing or introducing regulations to address the vacation rental landscape. A major initiative for the VRMA is to created an advocacy system to fight anti-vacation rental legislation as the segment continues to grow.