Vacation rental trends in the summer of 2024
Summer vacations are approaching and surely by this point in the year, you have already booked your vacation or at least thought about the destination. Prices can vary greatly year by year, but what is clear is that the supply of vacation rentals continues to increase at an accelerated pace. Studies conducted by the National Institute of Statistics (INE) confirm that tourist-use homes have increased significantly since 2023, especially in regions like Andalusia and Valencia.
For the upcoming summer of 2024, several trends are beginning to reshape the vacation landscape. Among these, the patterns that will most determine travelers’ decisions this year are sustainability, last-minute bookings, technology in property management, and the preference for rural and natural destinations.
Technology in property management
Technology has become a great ally for managing vacation rentals, revolutionizing both the guest experience and the efficiency of property owners. Digital tools and mobile applications have greatly facilitated the booking process, providing a smoother and more convenient experience for tourists. Specialized websites and platforms like Airbnb, Booking.com, and Vrbo allow users to explore options, compare prices, read reviews, and make reservations with just a few clicks.
One of the most notable innovations is the implementation of smart locks, which eliminate the need for physical keys and allow guests to access the property via codes or mobile applications. This system not only improves security but also simplifies the check-in and check-out process, allowing travelers to enter and exit without coordinating schedules with the owner.
Increase in last-minute bookings
The idea of sitting down in winter to think about summer vacations as a strategy to save money is starting to be left aside by new generations, who are accustomed to immediacy and have access to real-time information.
Consequently, some options have already appeared that propose a solution to this new habit, such as flexible cancellation policies or price optimization tools that adjust rates based on demand. These policies allow travelers to change or cancel their reservations with little notice without major penalties, thus providing greater freedom when planning a vacation. Additionally, price optimization through digital tools allows the desired destination to better fit your possibilities.
Sustainability and eco-friendliness
74% of travelers surveyed by Booking.com in 2023 said they would prefer sustainable accommodations. Environmental awareness has increased and travelers are increasingly seeking accommodation options that reflect these values.
If you are a property owner and are not quite sure how to adapt this trend to your property, you can consider some ideas, such as using renewable energy sources as much as possible, introducing eco-friendly products, low-consumption appliances, or implementing recycling programs. Also, if your property meets the requirements, you could consider obtaining green certifications to make it more attractive and demonstrate your respect for the environment.
Growing preference for rural and Natural destinations
Taking a break from the city and connecting with nature is becoming a growing practice in the demand for vacation rentals. The possibility of disconnecting and enjoying more local environments is boosting rural and natural destinations over more typically touristy ones. In this sense, according to an Airbnb report, searches for rural and natural accommodations increased significantly in 2023, reflecting a shift in travelers’ preferences towards more authentic and tranquil experiences.
With this in mind, if you are thinking of investing in a second home, you might consider this new inclination towards such destinations. The growing demand suggests that these places are not only popular among tourists but also represent an attractive investment opportunity with long-term profit potential.
Other vacation rental trends in 2024
In short, among the upcoming trends for 2024, we could also highlight solo travel, wellness tourism, Artificial Intelligence (AI), which plays an important role in facilitating travel planning, and the train as a more popular means of transportation compared to the plane, promoting more sustainable tourism.
On the other hand, in terms of the most booked places for this year outside of Spain, the 2024 booking report highlights Olbia in Sardinia in the first place as the choice of Spanish travelers. Other popular European destinations for this summer are Zadar (Croatia), Ponta Delgada (Portugal), Kutaisi (Georgia), and Faro (Portugal), among the top ten choices. There is also a greater trend in 2024 to book long-distance destinations, such as Japan, which has become one of the favorite destinations for Spaniards next summer, Havana, Vietnam, or Boston.