Parsippany, NJ — (July 19, 2012) — Today, Wyndham Vacation Rentals®, the world’s largest professionally managed vacation rentals business, announced the unveiling of its Vacation Rental Bill of Rights, a list of six tenets that every traveler should expect when booking a vacation rental stay. The Vacation Rental Bill of Rights lets travelers know they have the right to:
- Work with an experienced hospitality company they can trust.
- Assistance from a knowledgeable customer service team before, during and after their stay.
- Easily search from property descriptions that are detailed and accurate.
- Choose from a diverse selection of distinctive vacation accommodations.
- Book confidently in real time and pay online.
- A clean, regularly inspected vacation rental.
Vacation rentals are a $25 billion industry and growing, as travelers seek out condos, villas, beach homes and other rental properties for the convenience of multiple bedrooms, more living space, kitchens and washer/dry units. The increasing customer base has meant a dramatic spike in the number of vacation rental websites that are available today for travelers to choose from.
“The vacation rental industry is incredibly fragmented. Consumers are often on their own and with no recourse,” explained Bob Milne, president, Wyndham Vacation Rentals North America. “As part of a trusted hospitality brand and a leader in the industry, we want to establish a set of operating rules on behalf of travelers that we believe all vacation renters will benefit from. And we are determined to help educate consumers so they are better informed about all their choices and the various factors they should consider when booking a vacation rental.”
The results of a May 2012 PhoCusWright survey of 2,065 travelers shed light on current consumer views of the vacation rental industry, from both vacation rental guests* and other lodging consumers** (approximately evenly split). All respondents purchased lodging for leisure travel in the past 12 months and played an active role in planning their trips.
The survey revealed many interesting findings that validated Wyndham Vacation Rentals’ belief in the need for a Bill of Rights, the services it offers and the value it provides guests as the world’s largest professionally-managed vacation rental company and the only one backed by a major hotel brand. Interestingly, one of its major findings revealed that travelers show a major desire for a hotel-backed vacation rental option. Some of the other results included:
- Nearly half of non-vacation rental guests said they have considered a vacation rental in the past.
- Many of the reasons listed by those who have never considered a vacation rental all seem to stem from a lack of awareness and familiarity and some common misperceptions including:
- It never came to mind (27 percent)
- It seems inconvenient or complicated (17 percent)
- It seems more risky than hotels or other options (17 percent)
- I wouldn’t know where or how to find information (15 percent)
- 86 percent of non-vacation rental guests were more likely to consider booking a vacation rental that is backed by a hotel brand.
- These non-vacation rental guests listed a number factors to explain why they would be more willing to choose a hotel-brand vacation rental including their belief that:
- It would adhere to a standard (59 percent)
- It would be easier to search and book online (51 percent)
- There would be more information and pictures available (48 percent)
- It would have more service options like housekeeping and check-in (48 percent)
- They would have recourse or alternatives if they needed help (35 percent)
- 42 percent of vacation rental guests would similarly find a hotel-branded company more appealing than other vacation rental options and provided similar factors for this opinion.
- Travelers who have tried a vacation rental seem to prefer the accommodation style: nearly 3 out of 5 vacation rental guests said they didn’t even consider another option during their last trip.
** Defined as adults (25+) who took at least 3 leisure trips and stayed in paid lodging at least once, but did not rent a vacation home in the past 12 months
In the coming weeks, a white paper will be released revealing additional details from the study, including interesting observations regarding general travel habits and attitudes and the differences between vacation rental guests and non-vacation rental guests. For more information about Wyndham Vacation Rentals, visit www.wyndhamvacationrentals.com.