The luxury vacation rental market is experiencing a bright light at the end of the long COVID-19 tunnel. The widespread distribution of vaccines, especially in the United States and the United Kingdom, with a population yearning to travel, has created an unprecedented demand for the vacation rental industry. Affluent travelers constrained by the pandemic are determined to fulfil their travel dreams as soon as they possibly can. Also, with many guests deferring dates from 2019 and many others making new bookings, space for the rest of this year and into 2022 will be at an absolute premium.
Exceptional Villas, the world’s most trusted villa rental company, have said they are experiencing a 400% increase in enquiries and bookings over the pre-covid 2019 levels. Alexandra Baradi, Owner and CEO of Exceptional Villas, has said that “many of the key weeks such as Thanksgiving and Festive are already almost full”. It is almost like a Gold Rush for travel with many clients very anxious to get away and book the best villas in the best locations.
A new study by Exceptional Villas, a global leader in Luxury Vacation Rentals, found that the most popular destinations for bookings in the next three months are
- Turks and Caicos
- The Dominican Republic
- St Martin
Low COVID-19 positive numbers and the relaxation of covid protocols are responsible for the increased demand for these particular locations. Vacation rentals are in high demand because it is possible to socially distance. The most demanded properties are the ones close to the beach with large outdoor areas that include swimming pools and barbeque areas. Many larger groups opt for villas with hotel-like facilities such as cinema rooms, spas, fitness rooms and staff.
The most popular destinations for bookings from June 2021 to June 2022 are:
- Turks and Caicos
- The Bahamas
The study also found that 72% of their luxury travel consumers feel optimistic about their prospects of travelling at some point during 2021. Of the 72% who felt positive, 53% have already booked a trip for 2021, and the remainder indicated their intention to book soon. Also, 96% of Exceptional Villas travel consumers were overwhelmingly positive for travel in 2022. Just 4% felt negative and were not planning to travel at all. Luxury Travel advisors were equally upbeat, with 97% saying they anticipated their clients taking trips in the next 12 months.
The results are pleasantly positive and bode well for an industry that was gravely affected by the impact of Covid.