According to research from Villa-Finder, there are only 9,000 villas to let in Asia Pacific in the face of growing demand both from and within China for rentals, with the better-off Chinese still favouring hotels over homeshare.
Villa-Finder.com now hosts a thousand villas in five destinations, and as villas are seen as more akin to the hospitality industry than the sharing economy, is targeting Chinese travellers who until recently have been more comfortable choosing a hotel.
Airbnb’s Chinese rival and the country’s biggest homestay provider, Tujia, is expanding aggressively as more Chinese travellers are looking for adventurous and differentiated experiences, now claiming to host 650,000 homes and apartments online both at home and abroad.
The market for vacation rentals in China has expanded by over 60% in the past three years, delivering revenues of RMB 12 billion (c. £1.37 billion) in 2017. In 2016 Chinese travellers made close to 140 million outbound journeys and were the world’s biggest on-trip spenders. Recent EyeforTravel research shows 82% of Chinese outbound trips are to Asia, mainly Hong Kong and Macau but also Thailand, Japan, South Korea and Taiwan among others.