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Vacational Rental Market to Reach $279.5 Billion, Globally, by 2033 at 11.2% CAGR: Allied Market Research

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WILMINGTON, Del., Aug. 20, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Vacational Rental Market by Accommodation (Home, Condos, Hometown and Villas), Price Point (Economic, Mid-Range, and Luxury), Booking Type (Online Travel Agency, Direct Booking and Others), Location Type (Resort Area, Rural Area, Small Town and Others), and End User Generation (Gen Z, Millennials, Gen X, and Boomers): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the vacational rental market was valued at $97.8 billion in 2023, and is estimated to reach $279.5 billion by 2033, growing at a CAGR of 11.2% from 2024 to 2033.

Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/A06557

Prime determinants of growth 

The primary drivers of the expansion of the vacation rental market include rise in demand for distinctive travel experiences, driven by people’s need for flexibility and space, and technological developments that simplify booking procedures. Furthermore, cost-effectiveness of immersive travel experiences in comparison to traditional hotel accommodations is contributing to its increasing popularity. Moreover, maintenance of high-quality standards, address to security concerns, and adoption of several opportunities for market expansion and innovation are essential for sustained growth.

Report coverage & details:

Report Coverage

Details

Forecast Period

2024–2033

Base Year

2023

Market Size in 2022

$97.8 billion

Market Size in 2033

$279.5 billion

CAGR

11.2 %

No. of Pages in Report

250

Segments Covered

Accommodation, Price Point, Booking Type, Location Type, End User Generation, and Region

Drivers 

 Increased demand for unique experiences Flexibility and space Advancements in technology Rise in travel trends

 

Opportunities

 Enhanced guest experiences Expansion into new markets Innovation in technology

 

Restraints

 Regulatory challenges Dependence on the travel industry

 

Procure Complete Report (250 Pages PDF with Insights, Charts, Tables, and Figures):  https://tinyurl.com/3d7vddrx

Segment Highlights

Travelers have access to a wide range of options across the globe due to surge in the vacation rental industry for homes. There is accommodation available to cater to every preference and financial plan, ranging from luxurious villas offering breathtaking sea views to charming cabins settled in the serene woods. Homeowners use platforms such as Airbnb, VRBO, and Booking.com to market their properties and interact with prospective guests interested in renting for a short period of time. These online platforms provide an effective way for homeowners to connect with a wide range of travelers who are in search of accommodation for various purposes, including holidays, business trips, or any other personal reasons. The demand for vacation rentals shows no indications of slowing down, indicating continuous expansion in the sector as travelers seek privacy, space, and immersion in the local culture increasingly.

Customers seeking mid-range vacation rental, prioritizing affordability and quality to take services. Properties usually provide cozy comforts and contemporary conveniences without the premium price tag. These rentals frequently provide dependable Wi-Fi, comfortable living areas, and well-equipped kitchens. Having a strategic location near popular attractions or scenic spots is highly advantageous for businesses. It attracts the target audience and enhances their overall satisfaction. Usually ranging from $100 to $300 per night, pricing considers the property’s characteristics, location, and seasonal demand. Excellent customer service and individualized touches make rental stand out in this competitive market and encourage repeat business.

Direct reservations in the vacation rental sector provide several benefits for both hosts and guests. Hosts potentially increase their earnings by avoiding costly commission fees by rejecting third-party platforms. When guests make direct reservations with hosts, however, they frequently benefit from individualized experiences and cheaper pricing. Direct reservations encourage direct connection between hosts and visitors, which facilitates better scheduling of local suggestions, special requests, and check-in timings. Furthermore, hosts build closer bonds with their visitors, which foster greater loyalty and possibly even recommendations. In general, direct reservations encourage openness, adaptability, and a satisfying experience for all stakeholders engaged in the vacation rental industry.

Regional Outlook

Several factors drive the substantial expansion of the vacation rental market in various countries and regions. The popularity of short-term rentals in North America has increased due to emergence of places such as Airbnb and Vrbo, which attract business and leisure tourists looking for distinctive lodging. The rich cultural legacy of Europe and rise in demand for genuine travel experiences drive the continent’s rapid expansion. Growth in travel and the middle class in Asia-Pacific are driving up demand, particularly in well-known travel destinations such as Thailand, Australia, and Japan. The natural beauty of Latin America and its developing tourism infrastructure are driving the region’s economic growth. These developments are accompanied by digital platforms and evolving travel habits and show a global trend toward customized, adaptable housing alternatives.

Want to Access the Statistical Data and Graphs, Key Players’ Strategies:   https://www.alliedmarketresearch.com/purchase-enquiry/A06557

Players: –

MakeMyTrip Pvt. Ltd.Airbnb Inc.Tripping.comTripAdvisor Inc.Extra HolidaysNovasol ASHomeToGo9flats.comExpedia, Inc.VrboBooking.comHotels. coHotelsCombinedHotwire, Inc.Yatra Online Private LimitedHomestay.comtraveo GMBH

The report provides a detailed analysis of these key players in the global vacation rental market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report provides valuable insights into business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Recent Development:

In July 2022, Avantio, a provider of services and software for managing vacation rental, was acquired by Planet, a global technology and integrated financial services supplier. This acquisition has expanded Avantio’s presence in the hotel sector, allowing them to enhance their market share.In August 2022, Bornholmske Feriehuse is a vacation rental company that Oravel Stays Private Limited purchased to increase its footprint in Europe. With over 7, 000 houses on its Traum Ferienwohnungen platform and over 1, 800 vacation homes on its Belvilla platform, Oravel Stays Private Limited sought to expand its footprint in Croatia with this acquisition.

Similar Reports We Have on Consumer Goods Industry:

Adventure Tourism Market Opportunity Analysis and Industry Forecast, 2023-2032Luxury Travel Market Opportunity Analysis and Industry Forecast, 2023-2032Sexual Wellness Market Opportunity Analysis and Industry Forecast, 2023-2032Wellness Tourism Market Opportunity Analysis and Industry Forecast, 2021-2030Business Travel Lodging Market Opportunity Analysis and Industry Forecast, 2023-2032Online Travel Market Opportunity Analysis and Industry Forecast, 2022-2031Luxury Yacht Market Opportunity Analysis and Industry Forecast, 2022-2031Capsule Hotel Market Opportunity Analysis and Industry Forecast, 2024-2033Business Travel Lodging Market Opportunity Analysis and Industry Forecast, 2018-2028Cruise Tourism Market Opportunity Analysis and Industry Forecast, 2021-2031

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Apparel Manufacturing In New York City Offers 360 Design Support For Apparel Brands

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NEW YORK, Nov. 13, 2024 /PRNewswire/ — Apparel Manufacturing In New York City (AMI NYC) is excited to announce the launch of its comprehensive 360 Design Program. This innovative program is designed to empower retail stores and emerging start-up brands in the apparel industry by providing them with comprehensive support throughout the entire design and production process.

In today’s dynamic digital landscape, characterized by the meteoric rise of platforms like TikTok shops, apparel brands face unprecedented pressure to deliver impactful designs that resonate with discerning online consumers. Recognizing this critical need, AMI NYC has meticulously crafted the 360 Design Program to bridge the gap between creative vision and market success.

The 360 Design Program is a game-changer for new and aspiring apparel brands. AMI NYC’s deep understanding of the industry, coupled with its commitment to affordability, makes it the ideal partner for businesses looking to make their mark in the competitive world of fashion.

Here are just a few of the many ways the 360 Design Program can help your brand succeed:

Concept Development: Our team of experienced designers will work collaboratively with you to transform your initial ideas into commercially viable designs. From mood boards to technical sketches, we’ll ensure your vision is captured and translated into compelling apparel concepts.Technical Design & Pattern Making: Our skilled technicians will create precise patterns and technical specifications, ensuring your garments are produced to the highest standards of quality and fit.Sourcing & Sampling: We leverage our extensive network of trusted suppliers to source the finest fabrics and materials that align with your brand’s aesthetic and budget.Production Management: We oversee every step of the production process, from cutting and sewing to finishing and quality control, ensuring timely delivery of your collection.Marketing & Launch Support: Our marketing experts can provide guidance on branding, packaging, and go-to-market strategies, helping you effectively launch your new collection and reach your target audience.

Apparel Manufacturing In New York City (AMI NYC) is strategically positioned as a leading USA apparel production management company. For apparel brands seeking reliable and high-quality USA apparel production teams, Apparel Manufacturing In New York City (AMI NYC) stands out as the partner of choice.

The 360 Design Program is a testament to AMI NYC’s unwavering commitment to fostering innovation and empowering businesses in the apparel industry. By providing unparalleled support and expertise, AMI NYC is dedicated to helping brands thrive in today’s competitive market.

For more information about the 360 Design Program and to discuss your next apparel collection, please visit apparelmanufacturinginnyc.com.

Apparel Manufacturing In New York City (AMI NYC)

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Shipt Announces Same-Day Delivery Offerings with The Fresh Market in Time for Holiday Season

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The Fresh Market launch brings exceptional products, restaurant-quality foods, and more to customers via Shipt’s reliable, high-quality delivery

BIRMINGHAM, Ala., Nov. 13, 2024 /PRNewswire/ — Shipt, the same-day delivery platform connecting customers to a delightful, curated assortment of retailers, is excited to announce its partnership with The Fresh Market, recognized by USA Today 10 Best Readers’ Choice Awards 2024 for best bakery, best deli, and best-prepared food. Shipt will now offer same-day delivery from more than 140 The Fresh Market locations across 22 states. First-time Shipt users can save $15 off orders of $50 or more at The Fresh Market with code FRESH15 on Shipt’s marketplace now through December 31.*

The addition of The Fresh Market’s assortment to the Shipt marketplace provides members with expanded access to high-quality fresh products, meal-ready foods, gifting options, plus alcohol** offerings at select stores. The Fresh Market’s dedication to excellent products and guest experience makes it a natural partner for Shipt and a top-tier offering for Shipt members. With locations across multiple states, members and customers can find out if their zip code includes The Fresh Market by visiting Shipt’s website or app and typing in their address.

“The Fresh Market will provide unique products, organic options, and delicious meal-ready items to our members and we are thrilled to have them join Shipt’s marketplace ahead of the busy holiday season,” said Katie Stratton, Shipt’s chief growth and strategy officer. “The addition of The Fresh Market marks another exciting opportunity for Shipt to emphasize our brand’s dedication to offering a curated, quality selection of top-notch retail options to our members.”

Ahead of the holidays, members can learn how The Fresh Market’s wide array of products can make their gatherings even more special, all powered by Shipt’s same-day delivery solutions. Shipt’s ‘Lists’ feature, which enables users to pre-select items for specific occasions or recipes and quickly add to their cart, and ‘Preferred Shopper,’ an industry-leading pairing feature, will make shopping The Fresh Market’s assortment even easier as members can focus on time with loved ones instead of running to the store.

“At The Fresh Market, our mission has always been to create an exceptional shopping experience with the highest quality products and unmatched service,” said Emily Turner, chief marketing officer for The Fresh Market. “Our partnership with Shipt, renowned for their guest-centric approach, allows us to extend this experience to our guests’ doorsteps with unparalleled convenience.”

New customers can enjoy Shipt’s same-day delivery service with a 14-day free trial.** For more information on Shipt and The Fresh Market, Inc., please visit shipt.com and thefreshmarket.com. 

About Shipt
Through easy-to-use technology and a network of workers who love to go above and beyond, Shipt connects personal shopping and delivery to 80% of households in more than 5,000 U.S. cities.  Shipt’s app and website offer consumers access to a variety of stores and product categories, including fresh foods, household essentials, wellness products, office and pet supplies. Shipt also helps power deliveries for retailers on orders placed on their own websites by leveraging Shipt Driven, a delivery-only last-mile offering. Shoppers and drivers on the Shipt platform are known for reliability and going above and beyond, including communicating in real time about preferences and substitutions.

Shipt is an independently operated, wholly owned subsidiary of Target Corp. Founded and headquartered in Birmingham, Alabama, Shipt also maintains an office in San Francisco. For more information, visit Shipt’s Newsroom.

About The Fresh Market, Inc.
Voted as the “Best Grocery Store in America” by USA Today’s 10 Best Readers’ Choice Awards in 2023, 2022 and 2021, “America’s Best Customer Service 2021” by Newsweek and Statista and a top 5 most trusted grocery retail brand for specialty and natural/organic foods in the 2022 BrandSpark Most Trusted Awards, The Fresh Market helps guests discover the best with time-saving meal solutions, unique ingredients, and delicious food for any occasion. From fresh produce and exceptional meat and seafood to signature baked goods and thousands of organic options, the specialty grocer has something to please every palate. The Fresh Market currently operates 160 stores in 22 states across the U.S., inspiring guests to discover new flavors and cook with confidence. For more information, please visit or follow the company on Facebook, Twitter, Instagram, TikTok and Pinterest.

*Offer expires 10/31/24 at 11:59 p.m. HT. First time Shipt customers place an order of $50 or more from The Fresh Market on Shipt marketplace, and input promo code FRESH15 at checkout to receive $15 off. Limit 1 use per promotional code. Promo code not valid for current Shipt members. Offer not valid for orders containing alcohol items. Offer is subject to Shipt Promotional Terms and Conditions.

**Orders with alcohol may incur a $7 alcohol fee. Alcohol delivery is available in select areas and varies by retailer. You must be 21 years of age or older with a valid ID to order or receive alcohol. Shipt credits cannot be applied to orders containing alcohol items. Alcohol inventory varies by retailer.

***Offer valid for new customers only, returning customers are ineligible. 14 day trial will renew at the applicable membership rate at the end of the trial. Cancellation available free of charge anytime during trial. Offer is subject to Shipt Promotion Terms and Conditions. Deliveries under $35 with a membership will incur a $7 fee. All orders with alcohol (where available) may incur a $7 alcohol fee. Service fees may apply and will vary by retailer and location. See Terms of Service. See Terms of Service.

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St. Joseph’s Health Wins National Patient Safety Award

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Total Systems Safety assessment earns St. Joseph’s Health facilities the 2024 Safety Excellence Award from ECRI

PLYMOUTH MEETING, Pa., Nov. 13, 2024 /PRNewswire/ — ECRI, a global healthcare safety nonprofit organization, named St. Joseph’s Health the winner of the 2024 Safety Excellence Award, in recognition of numerous safety initiatives they successfully executed across two facilities in northern New Jersey.

St. Joseph’s Health aligned executive leaders and frontline staff to proactively complete the ECRI Total Systems Safety Assessment to capture a candid, comprehensive snapshot of the institution’s safety status, identify areas for improvement, fuel targeted action plans, and measure progress over time.

The annual Safety Excellence Award from the ECRI and ISMP Patient Safety Organization (PSO) recognizes outstanding patient safety initiatives and evidence-based strategies that improve safety-related outcomes.

“We are proud of the team at St. Joseph’s Health for embracing many of the principles that are foundational for a holistic approach to patient safety, like the Total Systems Safety framework and just culture for the workforce,” said ECRI Chief Medical Officer Dheerendra Kommala, MD. “Their commitment to involving leadership at all levels has been instrumental in driving impactful change that’s sustainable. This proactive, patient-centered approach sets a new standard that is grounded in transparency and successfully reduces preventable harm.”

“Our entire team has taken a hands-on approach to patient safety,” said Pam Upadya, MD, Patient Safety Officer and Interim Vice President, Physician Services, St. Joseph’s Health. “Our partnership with ECRI and their encouragement for us to undergo the safety assessment has aligned our institution completely with the most recent CMS guidelines for patient safety. We’re thrilled for the recognition of our vast efforts around safety excellence, which represents the heart of what we do.”

St. Joseph’s Health created core working groups to address each of the four principles in the Total Systems Safety Assessment: Culture Leadership, and Governance; Workplace Safety; Learning System; and Patient and Family Engagement. Multiple targeted action plans were developed for each category.

Inspired by the TSS assessment results, St. Joseph’s began holding quarterly institutional patient safety symposiums which focus on successful patient safety initiatives that can be celebrated as a learning opportunity throughout the healthcare system.

The action plans included other changes, such as a new Just Culture policy and education, safety improvement education plans, expanding the Patient and Family Advocacy Council, unit-based huddles, safety coaches, and engaging in learning systems and networks.

The safety team also began introducing “safety stories” into all leadership and board meetings to highlight staff’s positive actions related to safety and incident reporting. These efforts helped to shift the culture towards a focus on safety, transparency, communication across expert teams, and overall brought tangible safety actions to the forefront for senior leaders.

St. Joseph’s Health also won ECRI’s 2024 Healthcare Supply Chain Excellence Award for excellence in overall spend management and adopting best practice solutions into their supply chain processes. St. Joseph’s Health will be recognized for their safety award during the ECRI and ISMP PSO Annual Meeting on November 13.

Two additional ECRI partners were recognized with honorable mentions in the Safety Excellence Award.

Penn Medicine Lancaster General Health won ECRI’s Honorable Mention recognition for their work improving the Root Cause Analysis process for clinical safety events. This work led to faster response and investigation times, enhanced staff emotional wellbeing, and a reduction in safety events.

Hackensack Meridian Health won ECRI’s Honorable Mention for improving safety event reporting and quality processes across ten acute care hospitals.

Learn more about ECRI’s Safety Excellence Award.

About ECRI

ECRI and the ISMP PSO maintain the largest patient safety reporting and learning system—collecting and analyzing more than seven million patient safety events across 90 percent of the United States. 

ECRI is an independent, nonprofit organization improving the safety, quality, and cost-effectiveness of care across all healthcare settings. ECRI is the only organization worldwide to conduct independent medical device evaluations, with labs located in North America and Asia Pacific. ECRI is designated an Evidence-based Practice Center by the U.S. Agency for Healthcare Research and Quality and a federally certified Patient Safety Organization by the U.S. Department of Health and Human Services.

About ISMP

The Institute for Safe Medication Practices (ISMP) formally became an ECRI Affiliate in 2020. ISMP is the only 501c (3) nonprofit organization devoted entirely to preventing medication errors. ISMP runs the only national voluntary practitioner medication error reporting program, publishes newsletters with real-time error information, and offers a range of unique educational programs, tools, and guidelines.

About St. Joseph’s Health

Founded in 1867 by the Sisters of Charity of Saint Elizabeth, St. Joseph’s Health is a world-class hospital and healthcare network supported by more than 5,000 leading and renowned physicians, nurses and care teams. From its humble beginnings, St. Joseph’s Health has become one of the premier health systems in the state. The organization continues to evolve as the leading health resource in the community, the largest employer in Passaic County, and one of the largest providers of charity care in New Jersey.

The St. Joseph’s Health system is one of the leading clinical teaching and academic centers in the country, and has been recognized for its innovative programs and cutting-edge services. The health system operates a full continuum of care, including a regional tertiary care medical center (St. Joseph’s University Medical Center, Paterson), an acute care medical center (St. Joseph’s Wayne Medical Center, Wayne) a state-designated children’s hospital (St. Joseph’s Children’s Hospital, Paterson), an outpatient facility (St. Joseph’s Totowa Health Campus, Totowa), comprehensive home care (Visiting Health Services of New Jersey), and multiple ambulatory care centers located throughout Northern New Jersey. The system is further supported by St. Joseph’s Health Medical Group, which operates more than 100 physician medical and specialty practices across northern New Jersey.

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