Short-term rental innovators are transforming travel for millions around the globe through their innovative platforms that connect travelers with local property owners. Short-term rentals have been available across the nation for decades, but these platforms have aided in a dramatic increase in popularity, improving accessibility to affordable accommodations options.
Today, Travel Tech short-term rental platforms host over 9 million listings around the globe, for everything from beach houses, city apartments, and cabins in the mountains to less traditional accommodations like tree-houses, extra bedrooms, or garage apartments. Not only do short-term rentals provide travelers with authentic experiences, but owners, operators, and hosts act as ambassadors to the local community – sending new foot traffic to local small businesses and attractions. Multiple studies have shown that short-term rental guests stay longer and spend more than those staying in a hotel and that spending spreads throughout the community rather than sticking to the hotel districts.
In addition to diversifying available travel experiences, short-term rental platforms provide property owners with a new source of valuable extra income. That income is used to pay the mortgage, save for retirement, fund household improvements, or pay for college.