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Private Accommodation Soars in Europe

Europe’s private accommodation market is growing faster than both the overall accommodation market and the broader travel market, revealed Phocuswright in its Private Accommodation in Europe: 2012-2020 report.

Private rentals are no longer seen as niche lodging category but a primary form of accommodation, primarily driven in the growing millennial traveller population.

By 2020, total revenue of this market is expected to surpass EUR45 billion, with the total market forecast to add EUR20 billion in value from 2010-2020.

With this growth, the line between hotels and rentals is becoming increasingly blurred as travellers primarily focus on the best bed for their trip, not necessarily a home or a hotel.