What Millennials Look For in Vacation Rentals

Millennials, also referred to as Generation Y, encompassed 73m individuals in the United States in 2017. Further, China's millennial generation in itself, for example, is bigger than the whole population of the USA. A quarter of the world's population are millennials. With immense size comes big purchasing power. But who are millennials? Generation Y describes individuals who were born between 1980 and 1995. The term is often used to define a consumer group with certain habits and preferences. While of course individual consumer behaviours can differ greatly, certain overarching trends can certainly be observed. Millennials are known for their insatiable thirst for travel and unique experiences. Gone are the heydays for resorts and hotels with copy-and-paste rooms and offerings. Statistics and studies agree that Generation Y has taken a particular liking to Airbnb versus hotels. In 2017, for instance, 36% of American and Europeans who used Airbnb for accommodation were between 25 and 34 years old. The second largest group (23%) were between 35 and 44 years old. Moreover, millennial travellers are budget-conscious. Vacation rentals offer more value for money in terms of space. Additionally, most rentals are equipped with kitchens making it possible to cook and safe money. Ultimately, millennials are the consumer group you need to cater for if you want to grow your vacation rental business and successfully attract bookings. Therefore, it is important to consider what millennials specifically are looking for in short-term rentals and vacation homes. A multitude of studies have investigated the preferences of Generation Y. This helps us to draw below conclusions about what millennials are looking for in vacation rentals. Positive Online Reputation Former guests recommending you to friends and family can be an influential offline marketing tool for your