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Vacation Rentals - Germany

Germany

Highlights

in Germany, a key player in the Vacation Rentals market industry, is projected to attain a revenue of US$4.49bn by 2024.
The revenue is expected to increase at a Compound Annual Growth Rate (CAGR) of 2.14% between 2024 and 2029, resulting in a projected market volume of US$5.00bn by 2029.
By 2029, the number of users in the country is expected to reach 27.75m users.
User penetration is projected to rise from 31.4% in 2024 to 33.5% by 2029.
The average revenue per user (ARPU) is expected to be US$171.80.
Online sales are projected to generate 75% of total revenue in the Vacation Rentals market by 2029.
Notably, United States is expected to generate the highest revenue in the industry, with US$20bn in 2024, as compared to in Germany.
Germany's Vacation Rentals market is experiencing growth due to increased domestic travel and a desire for socially distant accommodations.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Vacation Rentals market in Germany is experiencing a significant surge in popularity, driven by a combination of factors that cater to changing customer preferences and local special circumstances.

Customer preferences: Travelers in Germany are increasingly seeking unique and personalized accommodation options that offer a more authentic experience compared to traditional hotels. This shift in preferences is fueled by a desire for flexibility, space, and the opportunity to immerse oneself in the local culture. Vacation rentals provide a home-like environment, often equipped with kitchens and living areas, appealing to families and groups looking for a more comfortable and cost-effective stay.

Trends in the market: One notable trend in the German Vacation Rentals market is the rise of online platforms and booking websites that connect travelers directly with property owners. This direct-to-consumer model not only offers a wider range of options but also allows for more competitive pricing and personalized customer service. Additionally, there is a growing demand for eco-friendly and sustainable vacation rental properties, reflecting the overall environmental consciousness in the country.

Local special circumstances: Germany's strong regulatory framework and emphasis on quality standards play a crucial role in shaping the Vacation Rentals market. Stricter regulations ensure that properties meet safety requirements and adhere to zoning laws, providing travelers with a sense of security and reliability. Moreover, the country's diverse landscape and rich cultural heritage contribute to the appeal of vacation rentals, offering a wide array of options ranging from cozy cottages in the countryside to modern apartments in bustling cities.

Underlying macroeconomic factors: The robust economy and stable political environment in Germany support the growth of the Vacation Rentals market. With a strong purchasing power and a high standard of living, Germans are increasingly inclined to invest in travel experiences, driving the demand for vacation rental properties. Additionally, the rise of remote work and flexible schedules has enabled more people to travel domestically, further boosting the market for short-term rentals across the country.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of vacation rentals.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.