Quiz: How well do you know the European short-term renter?
Today's short-term rental (STR) segment has come a long way since its inception. From alternative accommodation to private accommodation and now short-term rental, the names reflect the sector's path to mainstream travel. According to Phocuswright’s latest travel research report Niche No More: European Short-Term Rentals
, a full market recovery to pre-pandemic levels is projected to occur in 2023.
STRs have carved out their position as a mainstream option for travelers booking accommodation during their trips. The pandemic provided further impetus for them to move into the public consciousness, though they are still a long way from dethroning hotels as the leader in lodging. As the pandemic simmers, STRs are likely to maintain at least some of the gains they have made during the last two years and remain a viable option for many travelers in future.
Understanding consumer behavior and booking trends is important for the entire European travel industry as demand patterns shift, supply grows and online booking dominance continues.
How well do you know the European short-term traveler?