The impact of coronavirus on travel has been felt around the world. Although we can't predict the future, we can use data to form a better picture of the current landscape. Here are traveler search and booking trends we’re seeing for vacation rentals on our platform.
Covid-19’s impact on traveler search and bookings
Search volume is increasing
Travelers are starting to dream and plan for their future vacations. Google search traffic for the term Vrbo is slowly increasing in late April and into May after hitting a low point.
Source - Google Trends for search term “vrbo” worldwide — February 15, 2020 to May 15, 2020
Travelers are also curious about when they can travel again. Google data reports a strong uptick in the search phrase “when can I travel again” since late March 2020, compared with search volume over the previous year.
Source - Google Trends for search term “when can i travel again” worldwide — May 19, 2019 to May 15, 2020.
Travelers are searching for beaches/mountains
In April 2020, the top destinations travelers searched for included traditionally strong vacation rental markets such as beach and mountain destinations within driving distance to major cities on the East Coast and in the Southeast.
Top destinations searched by travelers
1. Destin 2. Panama City Beach 3. Gulf Shores 4. Hilton Head Island 5. Orange Beach 6. Gatlinburg 7. Myrtle Beach 8. Maui 9. Outer Banks 10. Pigeon Forge Source: Vrbo internal data, April 2020
In April 2020, travelers who searched on Vrbo were located in major international cities. Domestically, the largest cities for travelers searching on our platform were New York City and Houston.
Origin of travelers searching on our platform
1. Paris 2. New York City 3. Houston 4. Chicago 5. Atlanta 6. Dallas 7. Austin 8. Charlotte 9. Brooklyn 10. Sydney Source: Vrbo internal data, April 2020
Travelers are booking trips close to home
In an analysis of bookings on Vrbo, we have observed a few interesting trends that may provide useful insights on traveler behavior and preferences.
• Travelers are staying close to home. There was a 40% increase in the share of trips booked at destinations within 100 miles of travelers in April 2020 compared with April 2019.1
• The majority of bookings on Vrbo in April 2020 were family and group travelers, consistent with the insight that 88% of travelers who book with Vrbo plan to travel with family.2
• The share of reservations for listings with a relaxed or moderate cancellation policy has steadily increased by 10% since the beginning of March.3
Access more insights from Vrbo surveys on traveler behavior and preferences.
Sources:
1 Vrbo internal data, April 2020
2 Vrbo internal data March - April 2019, compared with March - April 2020
and Vrbo Customer Satisfaction Survey, Q4 2019, for owners listing on HomeAway.com, VRBO.com & VacationRentals.com
3 Vrbo internal data, bookings weeks of 3/1/2020 - 4/27/2020
Travelers are planning future trips
Despite the current coronavirus pandemic, a survey conducted by the Overseas Leisure Group indicates that 72% of Americans are dreaming and planning toward their next vacation and 35% of travelers would consider a vacation in summer 2020 .
We conducted a survey of US travelers in spring 2020 and found that those with trips already booked for dates in June or later were planning to take the trip rather than cancel. (See Figure 1: Travelers with trips booked.)
Figure 1: Travelers with trips booked Source: Vrbo survey of 393 travelers conducted March – April 2020
Figure 2: Travelers planning to book trips Source: Vrbo survey of 393 travelers conducted March – April 2020
Figure 3: Travelers using our Trip Boards Source:Vrbo internal data, April 2020
- In the same survey, travelers who did not already have a trip booked responded that they were more comfortable booking for dates in September 2020 or later, and that confidence level rises throughout the fall. (See Figure 2: Travelers planning to book trips.)
- Another indicator of future traveler demand comes from engagement in Trip Boards — a Vrbo tool that allows travelers to save properties and collaborate on upcoming trips with others. Data indicates that travelers are increasing their engagement with Vrbo trip boards since the start of April 2020. (See Figure 3: Travelers using Vrbo Trip Boards.)
Booking trends on Vrbo indicate the traveler preference for beach and mountain destinations continuing into summer 2020. The top five US destinations for trips booked in April 2020 with stay dates in July 2020 are below.
The top 5 US destinations for trips booked in April 2020 with stay dates in July 2020
1. Gulf Shores 2. Miramar & Rosemary Beach 3. Panama City Beach 4. Myrtle Beach 5. Gatlinburg & Pigeon Forge Source: Vrbo internal data, April 2020
Market insights from property managers
In our webinar “Prepare for Travelers Looking to Book,” we spoke with professional vacation rental managers Randy Hall and Miller Hawkins to ask them about traveler trends they are seeing in their markets. Here are some highlights from that conversation.
“We are seeing strong pent-up demand to get out of the house and down to the beach for short 3-to-4-night trips. As for the longer-term outlook, we never lost our June and July bookings, so we are right on pace with last year.”
— Randy Hall, owner of Liquid Life Vacation Rentals, Orange Beach, AL
“We’re seeing a huge trend later in July and August, and in the fall bookings are pouring in. All of these trips are shorter stays. Our bell curve is usually in the summer months, but due to the impact of Covid-19, we expect to see bookings extend until October and November.”
— Miller Hawkins, owner of Booe Realty, Myrtle Beach, SC
Watch the full recording of the “Get Prepared for Travelers Looking to Book” webinar on demand to hear more insights from Randy and Miller, as well as data and insights from Vrbo.
