North America Vacation Rental Market Size & Outlook
North America vacation rental market, 2017-2030 (US$M)
Related Markets
North America vacation rental market highlights
- The North America vacation rental market generated a revenue of USD 21,076.7 million in 2023.
- The market is expected to grow at a CAGR of 3.7% from 2024 to 2030.
- In terms of segment, home was the largest revenue generating rental type in 2023.
- Resort/Condominium is the most lucrative rental type segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 21,076.7 million |
| Market revenue in 2030 | USD 27,109.6 million |
| Growth rate | 3.7% (CAGR from 2023 to 2030) |
| Largest segment | Home |
| Fastest growing segment | Resort/Condominium |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Home, Apartments, Resort/Condominium |
| Key market players worldwide | Airbnb Inc Ordinary Shares - Class A, Booking Holdings Inc, Expedia Group Inc, MakeMyTrip Ltd, Tripadvisor Inc, Wyndham Destinations, 9flats, Hotelplan Group, Novasol, OYO |
Other key industry trends
- In terms of revenue, North America region accounted for 23.6% of the global vacation rental market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 37,391.8 million by 2030.
Home was the largest segment with a revenue share of 47.01% in 2023. Horizon Databook has segmented the North America vacation rental market based on home, apartments, resort/condominium covering the revenue growth of each sub-segment from 2017 to 2030.
An increasing number of travelers, especially millennials, have been looking to change the way they explore new places & gain unique experiences, and glamping has emerged as a popular trend. Increasing income levels among this group of travelers, coupled with the desire to experience new types of vacations, are expected to have a positive impact on the North America vacation rental market over the forecast period.
Rental hosts have suffered severely due to the COVID 19 pandemic as there have been widespread restrictions on travel and nonessential business. As per Statistics Canada, in 2019, the tourism industry contributed around 2% of Canada’s GDP.
Due to the travel restrictions and limitations, the number of international arrivals to Canada dropped by 54.2% in March 2020, as compared to February 2020. Furthermore, the hotel occupancy rate fell below 20% by the first week of April 2020 across Canada.
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Vacation Rental Market Scope
Vacation Rental Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America vacation rental market size, by country, 2017-2030 (US$M)
North America Vacation Rental Market Outlook Share, 2023 & 2030 (US$M)
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