Good News For American Vacation Property Owners
A recent survey of Campaya clients showed that expectations remained high for 2012 amongst vacation home owners in the property rental market, and as far as America is concerned this is supported by a current poll on Linked In which shows that 2011 was a better year than many expected for American vacation property owners, the majority of whom expect the trend to continue.
The most interesting aspect of the survey is that the positive reactions expressed are the same from owners all over the world, with American vacation home owners proving to be positive about 2012, despite the ongoing negativity being reported worldwide regarding the political and economic troubles.
“Our reservations were up over last year. Pleasantly, our guests were all content and many are saying they will return. We have guests from all over the world, but mostly USA” - Owner from Knoxville Tennessee
“Our bookings were up over 30% on 2010 which was up over 33% on the year before. We have also noted that the number of clients from north Europe has significantly increased over the past 18 months” - Owner from Orlando, Florida
“I was booked from June 1 to Aug. 31, that was a first! Usually the season starts June 22 ish... It was great. It is slow booking so far this year. I have raised my prices, so that may be part of it, but now I have room to come down with the negotiators.” - Owner from Long Island
“We had an awesome summer, we are on Siesta Key Florida where our beach got voted the number 1 in the USA, Lots of last minute and walk ins and everyone wants a deal.” - Owner from Siasta Key, Florida.
“We have a home in the Adirondacks that we rent. 2011 was the best rental year yet. 2012 winter has been good, but summer is off to a slow start.” - Owner from Adirondacks, New York
America felt the impact of the economic crisis as a major tourism destination, according to The Travel & Tourism Competitiveness Report 2011 published by the World Economic Forum within the framework of the Centre for Global Competitiveness and Performance and the Industry Partnership Programme for Aviation, Travel & Tourism.
While America has suffered like many during the downturn as travelers have become less engaged with the traditional sun and beach vacations and instead have looked for cheaper options within a two hour flight range, the increase in domestic and regional travel within the tourism market has ensured the effect of the crisis has not been as severe as it would have been.
“The economic crisis has prompted even more travelers in predominant source markets to visit domestic destinations, saving on expensive long-haul air transport and leading to counter-cyclical effects in offsetting fewer international receipts by more domestic spending.” The Travel & Tourism Competitiveness Report 2011
America's domestic tourism gained from external risks such as terrorist attacks and unfavorable exchange rate fluctuations in many traditional destinations, resulting in more domestic travel and spend.
With the trend predicted to continue this should be good news for American vacation property owners as value for money continues to be a key criteria for vacation makers.
“Domestic spending directly supports the home economy because it originates from residents who would have otherwise spent their money abroad. In the longer run, domestic tourism may gain even more importance because regional travelers will aim to avoid the increasing cost of long-haul travel and benefit from lower transport costs to domestic destinations.
In this respect, regionally focused and domestic tourism is playing an increasingly important role in traditional and emerging tourism economies because residents of emerging nations tend to explore neighboring regions before taking long-haul trips, and Europeans and Americans redirect parts of their travel activity to inland destinations to save money.”
Another fact that property owners searching for rental income can take heart over is the relatively poor ranking America gets regarding it's price competitiveness in the travel and tourism industry. Of the 139 countries studies America was ranked at 100, and as this measure includes the hotel price index for each country, this can only benefit those offering vacation rental properties.
With property owners anticipating a good 2012 now is the time to book your summer vacation according to Campaya:
“Traditionally January is the busiest booking period of the year, and in recent years by the end of January we find that 20% of the most attractive properties and most popular destinations have been booked" Claus Pedersen, founder Campaya. "In previous years by the end of March the figure has risen to 50% for the popular Summer period of July, August and September.”