Vacation rentals are a relatively new yet popular addition to the travel market. Such rentals, which are typically homes, apartments or condos rented by private citizens via websites such as Airbnb, provide tourists with alternatives to hotels.
The market research firm Technavio estimates the global vacation rental market will grow at a rate of 7 percent between 2017 and 2021. In the United Kingdom, data from the Smarthosts Vacation Rental Forum indicates holiday rentals are now the fastest-growing sector of tourism.