{"id":34518,"date":"2024-04-15T08:57:23","date_gmt":"2024-04-15T08:57:23","guid":{"rendered":"http:\/\/54.247.233.135\/?p=34518"},"modified":"2026-07-17T11:47:47","modified_gmt":"2026-07-17T11:47:47","slug":"navigating-the-luxury-vacation-rental-market-in-2024","status":"publish","type":"post","link":"https:\/\/www.rentalsunited.com\/es\/blog\/navigating-the-luxury-vacation-rental-market-in-2024\/","title":{"rendered":"Navigating the luxury vacation rental market in 2024"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">As a luxury property manager, much of the standard vacation rental management advice will not apply to you.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">After all, there\u2019s nothing \u201cstandard\u201d about your business. In the luxury market, you compete with some of the world\u2019s most spectacular properties and established luxury hotel chains.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">To succeed in this exclusive space, you must take a unique approach to secure highly lucrative from top-quality guests.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">In this article, we\u2019ll use our own luxury property data to explore key trends and help you navigate the luxury market in 2024.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><b>Rentals United is the No.1 channel manager for the luxury market, giving luxury property managers a choice of over 20 specialist luxury channels to list on, and the option to list luxury properties on-request on all the top OTAs.<\/b><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/info.rentalsunited.com\/request-a-demo-now\"><b>Book your demo to see how Rentals United can help you market your luxury properties.&nbsp;<\/b><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-makes-a-luxury-property\">What makes a luxury property?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Luxury is complicated to define, but it\u2019s generally accepted that all luxury properties should follow these principles:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><b>Exclusivity<\/b><span style=\"font-weight: 400;\"> \u2014 Luxury properties are at the top tier of the vacation rental market, and not accessible to the average guest. Luxury travellers want to feel like they&#8217;re staying somewhere exclusive.<\/span><\/li>\n\n\n\n<li><b>Attention to detail<\/b><span style=\"font-weight: 400;\"> \u2014 Every aspect of a luxury property is meticulously crafted, from the interior design and furnishings to the amenities and products provided.<\/span><\/li>\n\n\n\n<li><b>Elevated guest experience<\/b><span style=\"font-weight: 400;\"> \u2014 Luxury property managers must provide tailored guest experiences, including arranging excursions and extra services.<\/span><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">In this article we draw on our internal luxury property data, defining luxury as properties with an average daily rate of at least $500 per night in order to have enough data of interest to reach relevant conclusions.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"luxury-market-trends-for-2024\">Luxury market trends for 2024<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Our data uncovered significant differences in the luxury market of the US compared to Europe.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Here are the most significant statistics luxury property managers should know in 2024.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"decreasing-occupancy-in-the-usa-vs-increased-demand-in-europe\"><span style=\"font-weight: 400;\">Decreasing occupancy in the USA vs increased demand in Europe<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">In the US, the supply of luxury properties has outgrown demand, resulting in decreased occupancy rates. Occupancy fell more than 5%, averaging 32% in 2023. Lower occupancy also led to a reduction in rates.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">In contrast, European luxury properties saw demand increase faster than supply. Spain and Portugal, in particular, are experiencing rising occupancy rates and prices &#8211; Portugal stands out with an occupancy rate of&nbsp; nearly 50% in 2024.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">An increase in revenue was seen all across Europe, including a slight increase in the UK.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"booking-window-changes\"><span style=\"font-weight: 400;\">Booking window changes<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Average booking windows increased in the USA, with guests booking further in advance.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">The reverse was true in Europe, as booking windows continued to shorten.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Rentals United data showed that 45% of bookings were made over 2 months in advance, and 54% were made 45+ days in advance.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"short-mid-term-stays\"><span style=\"font-weight: 400;\">Short-mid term stays<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Our data showed a preference for shorter stays.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">67% of the bookings had a Length of Stay between 1 and 4 days.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"marriott-was-the-fastest-growing-channel\"><span style=\"font-weight: 400;\">Marriott was the fastest-growing channel<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Homes &amp; Villas by Marriott International was the fastest-growing luxury channel in 2023.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">The channel\u2019s remarkable growth allowed them to increase their market share by 4 percentage points year on year.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">They had the 3rd highest number of bookings from all channels connected to Rentals United.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"luxury-bookings-through-major-otas\"><span style=\"font-weight: 400;\">Luxury bookings through major OTAs<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Many lucrative luxury bookings were made through major OTAs.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Rentals United\u2019s two highest-value bookings made to date in 2024 have been made through Airbnb \u20ac300k+) and Vrbo (\u20ac240k+) respectively, with Marriott taking third place.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/rentalsunited.com\/blog\/request-to-book-what-are-booking-requests-and-can-you-use-them-to-earn-more-high-value-bookings-in-2024\/\"><span style=\"font-weight: 400;\">Learn how booking requests can enable you to list luxury properties on major OTA\u2019s.<\/span><\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"usa-luxury-destination-preferences\"><span style=\"font-weight: 400;\">USA luxury destination preferences<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Traditional luxury US destinations such as Florida saw a decrease in market share. This may indicate that luxury travellers are seeking new experiences and avoiding overcrowded and mainstream destinations that have lost some of their exclusivity.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"european-luxury-destination-preferences\"><span style=\"font-weight: 400;\">European luxury destination preferences<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Popular European destinations for luxury travellers included:&nbsp;<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">Catalonia, Spain<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Lombardi and Tuscany, Italy<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Ionian Islands, Greece<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Algarve, Portugal<\/span><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Italian destinations were more diversified, with luxury travellers growing interested in Lombardy, Latium, and Campania.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"marketing-your-luxury-properties-in-2024\">Marketing your luxury properties in 2024<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">In light of the luxury trends we discovered, here are some ways to navigate the luxury market in 2024 and maximise your bookings and revenue.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"adjust-prices-according-to-demand\"><span style=\"font-weight: 400;\">Adjust prices according to demand<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">US property managers may need more competitive pricing to capture bookings and reach occupancy goals.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">As supply outstrips demand, reducing your rates may help secure more bookings.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">In contrast, European property managers have an opportunity to increase rates to maximise profits for every booking.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">With a tool like <\/span><a href=\"https:\/\/rentalsunited.com\/elevate\/\"><span style=\"font-weight: 400;\">Rentals United\u2019s Elevate<\/span><\/a><span style=\"font-weight: 400;\">, you can get advanced insights into your property performance and benchmark against competitors to ensure you\u2019re optimising your rates for bookings and revenue.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"booking-windows\"><span style=\"font-weight: 400;\">Booking windows&nbsp;<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">In the USA where booking windows are increasing, diversifying distribution channels increases your properties visibility to those early planners, helping you secure advance bookings. Flexible booking policies and proactive communication can keep guests engaged, preventing cancellations.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">For Europe\u2019s shorter booking windows, localised campaigns with exclusive promotions can help capture last minute bookings. Highlight your capabilities to facilitate spontaneous trips where guests have less planning time.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"list-on-the-right-combination-of-channels\"><span style=\"font-weight: 400;\">List on the right combination of channels<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Getting your properties listed on the perfect combination of channels is crucial for success.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Niche luxury channels give you the opportunity to target a specific audience of luxury travellers who are searching for what your property offers.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">However, it&#8217;s important to also consider major channels, as the data shows that the highest value bookings are still made through major OTAs.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">With Rentals United, you can list on 20+ luxury-specific channels, including the fast-growing Homes &amp; Villas by Marriott International. You can also make the most of major channels by listing your properties on a Request to Book basis.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/rentalsunited.com\/blog\/luxury-vacation-rental-websites\/\"><span style=\"font-weight: 400;\">Learn more about our top 19 luxury channels here.<\/span><\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"market-your-destination\"><span style=\"font-weight: 400;\">Market your destination<\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">Research shows luxury travellers are moving beyond traditionally popular destinations to explore new areas.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">This is a perfect opportunity to use your website and your listings to educate guests about your destination to foster a sense of exclusivity and excitement.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/rentalsunited.com\/blog\/from-ordinary-to-opulent-the-art-of-marketing-luxury-properties\/\"><span style=\"font-weight: 400;\">Find more tips on marketing luxury vacation rentals in this blog post.<\/span><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"get-more-bookings-with-the-no-1-luxury-vacation-rental-channel-manager\">Get more bookings with the no.1 luxury vacation rental channel manager<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">As a luxury property manager, you must deliver excellence in all aspects of your property, services, and guest experience.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">To get high-value bookings from your ideal customers, it\u2019s important to list on the perfect mix of channels best suited to your brand.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"font-weight: 400;\">With Rentals United, you can list your properties on 20+ luxury specialist sites, enabling you to attract bookings from affluent customers in the luxury travel segment. You can also benefit from listing on major sites like Booking.com, Airbnb, and Vrbo by using Request to Book to maintain exclusivity.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To secure highly lucrative bookings from top-quality guests, luxury property managers need to be in the know on all the latest updates in the luxury market. Here we explore the luxury key trends and most significant statistics in 2024.<\/p>\n","protected":false},"author":4,"featured_media":34519,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37,38,40,35],"tags":[],"blog-tag":[],"class_list":["post-34518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-luxury-vacation-rentals","category-channel-manager-news","category-rentals-united"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.rentalsunited.com\/es\/wp-json\/wp\/v2\/posts\/34518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rentalsunited.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rentalsunited.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rentalsunited.com\/es\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rentalsunited.com\/es\/wp-json\/wp\/v2\/comments?post=34518"}],"version-history":[{"count":1,"href":"https:\/\/www.rentalsunited.com\/es\/wp-json\/wp\/v2\/posts\/34518\/revisions"}],"predecessor-version":[{"id":45250,"href":"https:\/\/www.rentalsunited.com\/es\/wp-json\/wp\/v2\/posts\/34518\/revisions\/45250"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rentalsunited.com\/es\/wp-json\/wp\/v2\/media\/34519"}],"wp:attachment":[{"href":"https:\/\/www.rentalsunited.com\/es\/wp-json\/wp\/v2\/media?parent=34518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rentalsunited.com\/es\/wp-json\/wp\/v2\/categories?post=34518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rentalsunited.com\/es\/wp-json\/wp\/v2\/tags?post=34518"},{"taxonomy":"blog-tag","embeddable":true,"href":"https:\/\/www.rentalsunited.com\/es\/wp-json\/wp\/v2\/blog-tag?post=34518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}