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Phocuswright Highlights Value of Private Accommodation

According to Phocuswright’s Private Accommodation in Europe: 2012-2020 report, Europe’s private accommodation market is growing faster than the overall accommodation market and the broader travel market.

From 2010-2020, this market is expected to add EUR20 billion in value, and surpass EUR45 billion in total revenue by 2020.

Private rentals are seen as a primary form of accommodation, no longer a niche option.

Primarily driven in the growing millennial traveller population, the line between hotels and rentals has blurred as travellers prefer to choose a bed that is most appropriate for their trip, not necessarily a home or a hotel.