A new Skift Research report, The Short-Term Rental Ecosystem and Vendor Deep Dive 2019, discusses the different types of property managers operating today, and likely new future business models. One aspect is the increasing professionalisation and commercialisation, and whether this is acceptable to the consumer.
Gross bookings for Airbnb rentals was estimated to exceed $33 billion in 2018, and is likely to exceed $44 billion this year. The Skift Research estimates that the total short-term rental market totalled $107 billion in 2018, and is likely to grow to $115 billion in 2019.
In terms of rentals, HomeAway has long been overtaken by Airbnb, and more recently by Booking.com and Agoda Homes brands, while TripAdvisor’s Vacation Rental umbrella brand is likely to be outdone by Ctrip soon. This year the top 5 players are likely to account for almost three-quarters of all bookings, while Airbnb’s revenue is likely to exceed Marriott’s this year for the first time.