SOURCE: Vacation-Renter, Inc.
August 11, 2010 10:00 ET
Vacation-Renter Index™ Points to Steady Demand Growth in July
SAN DIEGO, CA--(Marketwire - August 11, 2010) - The Vacation-Renter Index™ results were announced today revealing a modest but steady climb in July from June 2010 levels. The announcement comes as somewhat expected as the vacation rental industry entered the peak of the summer travel season. Vacation rental demand has increased for the 3rd straight month, with the VRI gaining by 60 points in July. Though the gain was not nearly as large as the 510 point increase between May and June, it supports what most travel analysts on the whole are stating -- that the vacation rental industry is returning to stable growth.
One can see that the demand for vacation rentals is steadily climbing as we approach the 4th quarter. Although this is not unusual given that the summer season is generally considered the peak holiday season within the United States, what is impressive is the growth in comparison to 2009 figures.
The gain from June to July represents a 4.48% growth increase. From that gain, the number of US-based vacation rental renters increased almost 54% from July 2009 numbers, whereas international travel inquiries and renters increased only by 2.4%. These indicators support that the US-based vacation rental industry has significantly improved in 2010 whereas the 2009 vacation rental industry was essentially supported by increased international travel and last-minute bookings at reduced rates.
As we approach the 4th quarter, the expectation of travel industry leaders is one of an improved 2010 in comparison to 2009 numbers. Despite the lowered expectations released regarding consumer confidence by the Consumer Board, the momentum of the summer season so far seems unabated, primarily due to an increase in business travel. Despite the high unemployment rate of 9.50% in July, this rate has remained consistent throughout 2010, indicating that business travel levels should be relatively stable.
About Vacation-Renter Inc.
Since 2006, Vacation-Renter has been assisting vacation rental owners and boutique resort managers generate additional online reservations. It operates market specific reservation portals that allow consumers to search and book properties in real time. Vacation-Renter caters to a wide variety of travelers by offering websites in such areas as San Diego, Lake Tahoe, Mammoth Lakes, Belize and San Francisco vacation rentals among several others.