More than half (52%) of summer travelers plan to stay at a vacation rental in 2014, up 8% compared with those who stayed in a rental last year, according to the fifth annual vacation rental survey of more than 1,100 U.S. respondents from TripAdvisor.
The top three reasons travelers are choosing a rental over a hotel stay this year are: more living space (67%), lower rates than hotels (53%) and better amenities (50%). Ninety-four percent of U.S. respondents who stayed in a rental previously said they were satisfied with their experiences.
More than half (61%) have booked a rental home when traveling with family or a large group. Of those respondents, almost half (48%) said the main reason they enjoy a rental is spending time together in common living space.
Fifty-seven percent of respondents said they had an “excellent” vacation rental experience bonding with family. A majority of all respondents (87%) maintain they would stay at a vacation rental instead of another accommodation if it meant saving money. Of that group, 27% said they wouldn’t need to save money to choose a vacation rental over a hotel, and 21% have booked a vacation because they were on a budget.
Almost half (45%) of travelers plan to spend $100 to $200 per night at vacation rentals, and 22% plan to spend $200 to $300 per night. Just 14% plan to spend under $100 a night.
Most popular U.S. regions for vacation rental stays in 2014 are the Southeast (33%), Northeast and Southwest (tied at 15%) and Hawaii (11%).
Top settings for vacation rental stays in 2014 include the beach or ocean (65%), a city (27%), the mountains (18%), an island or countryside (both 17%) and a lake (13%).
Summer is the most popular season for vacation rentals as 65% are planning stays between June and August. The most popular months are July (25%) and October (22%).
The most-popular rental amenities include Wi-Fi (21%), washers and dryers (18%), a private pool (16%), an outside living area (10%) and a professional-grade kitchen (5%).
Top luxury rental amenities include an amazing view (61%), a private beach (51%), a large outdoor deck or patio (49%), housekeeping service (29%) and a hot tub (26%).