SOURCE: VaycayHero

VaycayHero

September 02, 2015 09:00 ET

The Price Is Right for Labor Day Vacation Home Rentals; Bookings Are up and Prices Are Down

VaycayHero Data Indicates Prices Still Dropping and Shows Where Savvy Travelers Can Still Find Great Last-Minute Deals

SAN FRANCISCO, CA--(Marketwired - Sep 2, 2015) - VaycayHero, the simplest and easiest way to rent a family vacation home, issued today data showing consumer purchasing habits and best deals for Labor Day Weekend last-minute house rentals.

Based on analyzing data from 18,000 travelers booking homes on vaycayhero.com, and comparing information between Fourth of July and Labor Day bookings, VaycayHero discovered some interesting travel purchase facts and pricing information.

  • Labor Day Weekend is an even more popular time for home vacation rentals than Fourth of July
    Searches are up for rental properties for Labor Day Weekend vs. July 4th weekend by 37%. When compared to July 4th weekend, more travelers are looking for waterfront or oceanfront rentals for Labor Day (a 23% increase over July 4th weekend). Out of the guests who are looking to be on the water, 22% more guests are searching for Oceanfront rentals compared to Lakefront rentals.

  • The "Price is Right" for vacation home bookings for Labor Day
    Rental prices have dropped significantly from July 4th weekend to Labor Day weekend. For those that are looking to Labor Day for their summer vacation or for a last-minute getaway, there are great deals to be had.

    While the change varies by location, all locations see a big price drop. On average, nightly rates are down - 31% for Labor Day (vs July 4th weekend) and will see another rate drop of -14 - 28% for the following weekend (Sept 11-13th). Some locations (like Texas Gulf) will see a drop in average nightly rate of -44% the weekend after Labor Day. So if travelers can hold out by one more week they will see a decline in prices.

  • Labor Day weekend bringing out last minute bookers
    Throughout the year, the majority of travelers book their vacation (on average) 41 days in advance. However, Labor Day seems to bring out the last minute bookers. 48% of VaycayHero's bookings on August 31st were for Labor Day weekend and the company expects to see an uptick in Labor Day booking over the next several days.

  • Traveling in big groups still popular for end of summer getaway
    Despite summer coming to a close, the median amount of guests for both July 4th and Labor Day weekends remains the same (6 guests/per rental).

  • Where the great deals can be had right now
    There is still a lot of rental inventory available for Labor Day in U.S. top vacation destinations: West Coast -- South Lake Tahoe, CA, Big Bear, CA, Palm Springs, CA East Coast -- FL Central Gulf Coast, Myrtle Beach, SC.

    For example, South Lake Tahoe, CA has house rentals from $165/night, Big Bear, CA from $217/night, Palm Springs, CA from $95/night, FL Central Gulf from $90/night; Myrtle Beach has condo rentals from $80/night. Prices not including taxes and fees. 

    And with lower airfares for Labor Day Weekend as reported recently by Expedia, savvy travelers can save on prices both for flights and vacation home rentals in popular destinations like Orlando, FL and Los Angeles, CA.

"The data shows that summer is clearly not over for a lot of families who want to squeeze in one more holiday weekend together before the back-to-school grind begins or for groups of friends that realize better deals may be had now versus the peak summer travel season," said Anirban Bardalaye, CEO and co-founder of VaycayHero. "For families and friends traveling together, renting a home is a much more convenient and economical route than booking multiple hotel rooms, and Labor Day weekend is proving to be a popular time for travelers looking for rental properties."

About VaycayHero
VaycayHero is the best place to rent a vacation home with professionally managed properties and guaranteed, instant confirmations. Unlike peer-to-peer sites that rely on individual owners to be truthful, VaycayHero works only with professional property managers, uses proprietary technology, and provides concierge services to eliminate the risks consumers face when booking with peer-to-peer sites. VaycayHero is the only company that can guarantee vacation bookings, and its technology allows them to work with any property manager and keep 100% accurate calendars updated in real-time. The company now has over 25,000 rental properties across the United States. Founded in 2011, VaycayHero is headquartered in San Francisco and is venture-backed.

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