HomeAway Inc., an online marketplace for vacation rentals, says it saw strong performance for its vacation rental owners during the summer season.
The company’s summer report finds the average occupancy rate for vacation rentals at 77 percent for vacation rental owners who consider summer their peak season. These owners reported an average weekly rental rate of $1,778 ($254 per night) – a 19 percent increase over the same time period in 2012.
Comparatively, Smith Travel Research, Inc. reports the average occupancy rate for U.S. hotels for the summer season was approximately 70 percent – a two percent year-to-year rise – with an average room rate increase of 3 percent.
For the second consecutive year, nearly nine in 10 vacation rental owners (86 percent) report their summer business was about the same or better than last summer. And 95 percent of vacation rental owners said they did not lower their rental rates from last summer – 23 percent increased their rental rates.
Read more at Florida Realtors 2013
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