Canada's vacation rental market gains momentum as CanadaStays reports a 74% increase in trips booked in 2017
CanadaStays releases 2017 data, highlighting marketplace growth and Canada's key vacation rental trends
TORONTO, Jan. 16, 2018 /CNW/ - CanadaStays, Canada's largest vacation rental marketplace, today released its 2017 Canadian Vacation Rental Year in Review, highlighting the country's growing demand for vacation rentals. The number of trips taken on the platform increased by over 74% in 2017, with Canadian travellers booking more vacation rentals across Canada and internationally.
The value of the trips taken more than doubled in the last year, growing from $11M in 2016 to over $24M in 2017. Average trip cost also increased by 11% and was due in large part to bigger group sizes, averaging five guests per booking, and longer stays, with travellers booking an average of five nights in 2017, compared to four nights in 2016.
While much of the demand for vacation rentals was fuelled by the rise in staycations owing to Canada's 150th birthday, a weak Canadian dollar, and political uncertainty south of the border, CanadaStays also reported an 11% increase in American visitors to vacation rental properties throughout the country.
Booking trends for the year showed different booking windows for key travel seasons: summer trips were booked 40-60 days before the date of travel, while winter bookings were made much earlier, 80-100+ days in advance.
"We started seeing a jump in bookings for summer 2018 in October," says Michelle Kanfer, Director of Marketing at CanadaStays. "Travellers looking for good selection and availability should be planning to book their vacation rentals at least three months in advance, even six months earlier for vacation rentals in high demand destinations."
2017's most in-demand Canadian destinations included Canada's major city centres, but also featured many local hot spots, including Blue Mountain, the Kawarthas and the Muskoka region in Ontario; Kelowna, Victoria and Canmore out West, and Mont Tremblant in Quebec.
2017's MOST SEARCHED Canadian Destinations:
- Muskoka, ON
- Toronto, ON
- Whistler, BC
- Montréal, QC
- Vancouver, BC
- Mont Tremblant, QC
- Blue Mountain, ON
- Kawartha Lakes, ON
- Prince Edward Island
- Ottawa, ON
- Tobermory, ON
- Kelowna, BC
- Niagara Falls, ON
- Nova Scotia
2017's MOST BOOKED Canadian Destinations:
- Whistler, BC
- Blue Mountain, ON
- Toronto, ON
- Kelowna, BC
- Montréal, QC
- Victoria, BC
- Canmore, AB
- Mont Tremblant, QC
- Calgary, AB
- Prince Edward County, ON
- Gravenhurst, ON
- Vancouver, BC
- Niagara Falls, ON
- Ville-Marie, QC
- Sun Peaks, BC
Vacation rental listings on the platform also nearly doubled in the last year. CanadaStays' new, lower owner fees for pay-per-book listings, which launched in November, helped continue to drive new listing momentum toward the end of the year.
By the end of 2017, over 40% of properties on the platform were instantly bookable: a trend that is expected to continue through 2018, in response to traveller demand for immediate booking confirmations over more traditional, 24-hour approval periods.
CanadaStays is best known for having a wide selection of Canadian properties, but the platform has also seen recent surges in demand for vacation rentals south of the border, resulting in a push to boost inventory both nationally, and in Canadians' favourite travel destinations across the US, the Caribbean, and South and Central America.
"With summer bookings trending upwards and peak season just months away, property owners should be updating their availability calendars, reviewing their rates and adding any new properties now to maximize earnings for the spring/summer travel season," recommends Emily Rayson, COO at CanadaStays.
For more information on listing your property, visit canadastays.com/add-your-property, or schedule a call with a CanadaStays Account Manager.
To explore CanadaStays properties and find your perfect stay, visit canadastays.com.
About CanadaStays:
Founded in Toronto in 2008, CanadaStays is Canada's largest vacation rental marketplace with 100,000+ vacation rental properties in 11,000+ destinations across Canada, the US, the Caribbean, Mexico and Latin America. CanadaStays provides property owners with a simple, effective marketing solution that gets their property listings in front of millions of visitors, while offering travellers unique accommodation options in their favourite destinations.
SOURCE CanadaStays