Short-term Rental Market Size & Share, By Accommodation Type (Home, Apartments, Resort/Condominium, Others), Booking Mode (Online/Platform-based, Offline), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Short-term Rental Market exceeded USD 113.43 Billion in 2023 and is expected to cross USD 290.16 Billion by end of the year 2032, witnessing more than 11% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 113.43 Billion
• CAGR (2024-2032): 11%
• Forecast Year Value (2032): USD 290.16 Billion
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

The short-term rental market is experiencing significant growth due to the increasing popularity of online travel booking platforms, which have made it easier for travelers to find and book accommodations. Additionally, the rise of the sharing economy has encouraged more individuals to rent out their properties on a short-term basis, boosting the supply of rental properties available. Moreover, the growing preference for unique and authentic travel experiences has fueled the demand for short-term rentals, as they often provide a more personalized and local experience compared to traditional hotels.

Report Scope

Report Coverage	Details
Segments Covered	Accommodation Type, Booking Mode
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	9flats.com PTE., Airbnb,, Booking Holdings, Expedia Group,, Hotelplan Management AG, MakeMyTrip Pvt.., NOVASOL A/S, Oravel Stays Private Limited, Tripadvisor,, Wyndham Destinations,,

Industry Restraints:

Despite the growth opportunities in the short-term rental market, there are also several restraints that have the potential to hinder its growth. A significant restraint is the regulatory challenges faced by short-term rental hosts and platforms in many cities and regions. Local governments have imposed restrictions on short-term rentals in response to concerns about neighborhood disruptions, housing affordability, and tax compliance. Additionally, the lack of standardized quality control and consistency in short-term rentals can be a deterrent for some travelers, as they may be unsure about the level of cleanliness, safety, and amenities provided in rental properties.

Regional Forecast:

North America:

The short-term rental market size in North America, specifically in the United States and Canada, has experienced rapid growth in recent years. The rise of platforms such as Airbnb and VRBO has made it easier for homeowners to rent out their properties to travelers and tourists. The US market, in particular, is one of the largest in the world, with key cities like New York, Los Angeles, and Miami seeing a significant increase in short-term rental demand. In Canada, cities like Toronto, Vancouver, and Montreal have also seen a surge in short-term rental activity.

Asia Pacific:

In Asia Pacific, countries like China, Japan, and South Korea have also seen a rise in the short-term rental market. In China, platforms like Tujia and Xiaozhu have gained popularity, especially in major cities like Shanghai and Beijing. Japan, with its booming tourism industry, has seen a spike in short-term rental demand, particularly in cities like Tokyo and Kyoto. South Korea, known for its vibrant culture and tourism attractions, has also seen a growing interest in short-term rentals, especially in cities like Seoul and Busan.

Europe:

Europe, specifically the United Kingdom, Germany, and France, has been a key player in the short-term rental market. In the UK, cities like London, Edinburgh, and Manchester have seen a rise in short-term rental activity, with platforms like Airbnb dominating the market. Germany, with its strong economy and vibrant tourism industry, has also seen an increase in short-term rental demand, particularly in cities like Berlin and Munich. In France, popular destinations like Paris, Nice, and Lyon have attracted a significant number of short-term rental properties, catering to the country's thriving tourism sector.

Segmentation Analysis:

In terms of segmentation, the global Short-term Rental market is analyzed on the basis of Accommodation Type, Booking Mode.

Short-term Rental Market

Home Accommodation Type:

The short-term rental market for home accommodations is steadily growing, with an increasing number of travelers opting for the comfort and privacy of a home during their stay. Home rentals offer larger living spaces, fully equipped kitchens, and often a more authentic local experience. This segment is particularly popular among families or larger groups looking for a home-away-from-home experience.

Apartments Accommodation Type:

Apartments are a popular choice for short-term rentals, especially in urban areas where space is limited and hotel prices are high. Apartments offer a more affordable option for travelers looking for a comfortable and convenient place to stay. With the rise of platforms like Airbnb, booking an apartment for a short-term rental has become much easier and more accessible.

Resort/Condominium Accommodation Type:

Resorts and condominiums cater to travelers looking for a more luxurious and all-inclusive experience. These accommodations often offer amenities such as pools, spas, and restaurants on-site, making them a popular choice for leisure travelers. The short-term rental market for resorts and condominiums is competitive, with many properties vying for customers' attention through online platforms and offline marketing efforts.

Others Accommodation Type:

The "Others" category in the short-term rental market includes unique and unconventional accommodation types such as treehouses, houseboats, and yurts. These alternative accommodations cater to travelers looking for a one-of-a-kind experience and are often booked through online platform-based booking modes. The demand for these unique accommodations is on the rise, as more travelers seek out memorable and Instagram-worthy stay options.

Competitive Landscape:

The competitive landscape in the Short-term Rental Market is characterized by a diverse range of players, from established global platforms to niche operators catering to specific demographics or regions. Major companies dominate the market by leveraging technology to enhance user experiences, streamline bookings, and ensure safety and security for both hosts and guests. The rise of alternative accommodations, including unique lodging experiences such as treehouses, yurts, and luxury villas, has broadened the competitive field. Additionally, regulatory challenges in various regions have spurred some companies to adopt innovative strategies for compliance, while others focus on customer loyalty and brand differentiation. As travel preferences shift towards experiential and local stays, the competition continues to intensify, urging companies to enhance their offerings and market presence.

Top Market Players

- Airbnb

- Vrbo

- Booking.com

- Expedia Group

- TripAdvisor Rentals

- HomeAway

- FlipKey

- Tujia

- OYO Rooms

- Vacasa