2013:The Year Of The Vacation Rental

　　Looking back, every calendar year in the hospitality industry brings with it a decisive trend. But unlike the lucrative opportunities surrounding tablet use or review sites or smart phone integration, 2013 is poised to throw one big curveball to the industry and that is the explosion of vacation rentals.

　　Since the mid-eighties, cultural tourism has been on the rise: travelers wanting to learn more about the human and historical patrimony of their destinations. Accordingly, their accommodations preferences have echoed this trend with more and more opting for smaller, more experience-based boutiques, inns, and B&Bs.

　　One featured characteristic of this movement is the desire to immerse oneself culturally (often referred to as “living like a local.”) While early-adapting travelers may take in a tourist attraction or two, they’re increasingly finding the authenticity of local life to be the centerpiece and vacation rentals are poised to capitalize on this allure.

　　A study by McIntosh and Siggs (2005) found five key dimensions setting alternative accommodations like vacation rentals apart from traditional big box counterparts. These factors were “unique character,” “personalized touches,” “homely feel,” “high quality standards,” and “value added nature of the knowledge and friendliness of hosts.”

　　Which is to say, the McDonaldization of the hotel industry has spawned a new counter-culture and no travel niche will define 2013 better than vacation rentals themlseves: a trend that now embodies the future of experiential travel.

　　So why are hoteliers so concerned?

　　Hotel owners typically see vacation rentals as a menace because they’re unconventional, they’re unregulated, and they’re threatening to traditional hotel supply chains. In boroughs like Manhattan, fearful hotel lobbyists have gone as far as to spearhead the prohibition of short-term apartment rentals calling them “illegal” and “unfair” competition.

　　But such aggressive reactions from hotel shareholders indicate a noteworthy adversary is on the rise.

　　According to a TechCrunch analysis of some recent AirBnB (funded) research in San Francisco, vacation rental guests not only stay longer than and outspend their hotel counterparts, but they also distribute more wealth throughout a destination.

　　And with regards to that New York City ban, statements in the Wall Street Journal stated "New York City may be losing as much as $155 million annually in tourist business because of new restrictions on short-term rentals.”

　　Where are vacation rentals going in 2013?

　　While vacation rentals may be on fire, perhaps the biggest flaw of the industry, as it stands, is standardization and regulation. Accustomed to hotel travel, modern-day guests are increasingly weary of rules, quality standards, and accuracy of promotional material when it comes to alternative style lodgings.

　　According to Steve Trover, President of the Vacation Rental Manager’s Association, vacation rental proprietors should be flexible and eager. “While the industry has not yet evolved to the extent that all standards are the same," he said in an email, "vacation rental professionals are more apt to be able to provide those standards and services travelers have come to expect.”

　　Because there’s so much room for growth, 2013 will see vacation rentals mature more than perhaps any year in history.

　　And proof of this movement is brands like Wyndham Worldwide, one of the largest hospitality companies across six continents. “While hotels are a familiar option,” they reveal with their new vacation rental initiatives, “the popularity of vacation rentals continues to grow as more and more travelers discover the unique benefits of this type of accommodation.”