Vacation Rental Sites Survey: Price Named Determining Travel Factor

Over the last couple of years, vacation rental sites like Airbnb have gained massive popularity. In fact, Airbnb reportedly grew 353 times over between 2010 and 2015. As part of the growing “sharing economy,” sites like Airbnb allow consumers to rent homes, apartments, rooms and even non-traditional accommodations from others who aren’t using their own spaces, rather than paying for pricy hotels. However, some are still a little leery about vacation rental sites like Airbnb, in part because of safety concerns and also due to the impact that too many Airbnb rentals can have on the housing market in different communities. So how many people have already used vacation rental sites and what did they think of the experience? And looking forward, how many are likely to use those types of rental services in the future?

vacation rental sites

Travel Habits

In Ask Your Target Market’s latest survey, 3% of respondents said that they’ve traveled within the last day. 6% have traveled within the past week. 13% have done so within the past month. 16% last traveled in the past three months. 19% have traveled within the past year. 27% said that it’s been over a year since they last traveled. And 16% said they don’t ever travel.

Overall, hotels still seem to be the main accommodation of choice; 65% of travelers said that they regularly stay in hotels. 38% stay with friends and family members. 9% stay in campgrounds. 7% stay in bed and breakfasts. Another 7% rent homes or rooms from sites like Airbnb. 4% stay in RVs. And another 4% stay in other types of accommodations, such as motels, cottages and time shares.

Booking Factors

When it comes to choosing where to stay while traveling, 58% of respondents named price as their major determining factor. Convenience, type of room or accommodation, comfort and safety were all rated as moderately important among travelers, with around 15% each selecting them as important determining factors, on average. Proximity to attractions and style were ranked as the least important factors for consumers when choosing where to stay for their travels.

Vacation Rental Sites

So far, just 8% of respondents said that they’ve used vacation rental sites like Airbnb to book home or room rentals multiple times in the past. And another 9% have used such sites at least once. Airbnb was the most popular site mentioned by respondents. But others like VRBO and Homeaway were also mentioned.

48% of those who have used vacation rental sites said that they’ve just booked single rooms. 39% have rented entire homes. 35% have rented apartments. 9% have rented shared rooms. And 8% have rented other types of accommodations like condos. Overall, 67% of those who have used vacation rental sites said they’ve been at least somewhat satisfied with the experience.

Key Takeaways

Vacation rental sites like Airbnb, VRBO and HomeAway are certainly gaining popularity. But there’s a much larger group of travelers out there who have yet to take advantage of those “sharing economy” type sites. However, since travelers overwhelmingly value low prices over other factors when it comes to choosing accommodations, that’s something that those vacation rental sites could use in their marketing efforts. Instead of trying to position themselves as innovative or stylish, they could focus more on the great deals that are available to attract a larger segment of travelers.

You can view the complete survey results in the widget below and be sure to click “Open Full Report” to take advantage of all the chart and filter options.

Photo Credit: Airbnb from Flickr

What do you want to know? If you need some consumer insights on a particular topic, let us know in the comments below and we’ll consider it for an upcoming survey post.

Results were collected on May 18 via AYTM’s online survey panel.

Anne Pilon brings 3 years experience to AYTM as a blogger and journalist. She has a degree in journalism and marketing communications from Columbia College in Chicago and enjoys writing about business, marketing, social media, and art.