12 SURPRISING REASONS FOR LUXURY VILLA MARKET EXPONENTIAL GROWTH
NEW YORK CITY, NEW YORK, UNITED STATES, February 28, 2023 /EINPresswire.com/ -- Luxury villa rentals are experiencing very significant growth around the world post covid. According to research published by Allied Market Research, the global vacation rental market valued at US$91.2 billion in 2021 is expected to grow to US$315 million by 2031. The luxury sector alone is expected to be valued at US$82 billion by 2030. This growth makes the vacation rental market one of the fastest-growing tourism industry sectors.
The US market alone is predicted to be worth US$20 billion by the end of 2025, with 1 in every 5 US citizens staying in a vacation rental at home or abroad.
Luxury global vacation rental provider Exceptional Villas has confirmed that they are experiencing unprecedented growth in line with these predictions. At the end of 2022, gross revenue grew by over 200% over 2019 pre covid levels.
So what are the main reasons for this exponential growth?
1. The luxury vacation rental market benefits significantly from the post-pandemic travel boom.
2. Travelers are looking for more flexible and more spacious accommodations
3. As the world becomes more sustainable, travelers are looking for better value and longer stays, both of which the vacation rental market provides over hotel accommodation.
4. Pre-pandemic most vacation rental bookings were less than seven nights. Post-pandemic, the majority of stays are over seven nights.
5. The increased focus on health and safety favors vacation rentals over other accommodations.
6. Increase in demand for local, unique, and off-the-beaten-track experiences. Staying in a home away from home provides a more local and cultural experience.
7. According to Exceptional Villas, 65% of guests choose to book their vacation rentals for the extra space and access to a kitchen. The average hotel room is approximately 350 square meters, while a one-bedroom vacation rental spans more than 1000 meters of square space.
8. 49% of guests cited extra privacy as one of the main reasons for choosing rental accommodation.
9. Vacation rental options have significantly increased over the last five years. Moreover, they are predicted to increase in the coming five years, with everything from simple log cabins beachfront villas, condos, private castles, luxury mansions, and private islands available for rentals.
10. The availability of much more professionally run villas and vacation rentals providing a full complimentary concierge service has dramatically increased the attractiveness of vacation rentals, especially for the luxury sector.
11. Post covid, people's priorities have changed with a greater focus on experiences over commodities. Vacation rentals offer the perfect opportunity for people to meet and spend quality time creating memories of a lifetime.
12. Luxury travelers spend more on brands that tailor their products to fit their needs and requirements. Click Here1
The owner and founder of Exceptional Villas, Alexandra Baradi, has said "we are very pleased to experience a 200% growth over pre-pandemic levels and look forward to the next number of years"
ABOUT EXCEPTIONAL VILLAS
Exceptional Villas is a luxury villa rental company featuring only the best handpicked and personally inspected properties worldwide. The company has clients from all over the world. Exceptional Villas have been in the travel business for over 26 years and offer a bespoke service to their clients. This service includes matching the perfect Villa to each of their clients and providing a complimentary concierge service. In addition, this service includes organizing all aspects of the client's vacations, such as VIP airport arrival, ground transportation, restaurant reservations, tours and excursions, water sports, and pre-arrival grocery stocking. Unlike some of their competitors, they do not provide a membership fee. Likewise, their villa experts are indeed experts. They visit every Villa and are filled with a wealth of information regarding each Villa and destination. Exceptional Villas take total pride in the customized service they offer. The company has two other brands, including Villas Barbados2, a bespoke company representing all the best villas in Barbados, and Dream Ireland3, which represents cottages and homes throughout the island of Ireland.
For more information, visit http://www.exceptionalvillas.com/ or call + 353 64 66 41170 or toll-free from the US and Canada at 1 800 245 5109 and the UK at 0845 528 4197
Alexandra Baradi
Exceptional Villas
872232218 ext.
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Instagram
YouTube
WATCH NOW: Redefining Luxury by Exceptional Villas at https://www.youtube.com/watch?v=idtus2MaY3Y
![](https://i.ytimg.com/vi/idtus2MaY3Y/hqdefault.jpg)
1 https://www.exceptionalvillas.com/barbados
2 https://www.villasbarbados.com/
3 https://www.dreamireland.com/
![](https://www.einpresswire.com/tracking/article.gif?t=4&a=urxJ4aGiLNH0L0E8&i=VnTX_2baUz4SihTG)