Top 5 Travel Product Trends – Vacation Rentals Claim #1 Seat

June 15, 2020

As we look at emerging trends in the travel industry experts have selected the top 5 products that will see a surge in the coming months and years. Vacation rentals have claimed the #1 seat and hopes remain high that destinations across the US will not only survive the economic blow from Covid-19 but will rise to a stronger position in the rebirth of the travel industry.


Vacation Rentals

Private accommodations steadily rise in popularity for travelers as owners and managers enhance safety measures and publish improvements like keyless entry, contactless check-in, new technology and spaced out rental periods. For example, InsuranceMyTrip has already seen a 6% increase in vacation rentals in comparison to 2019, as well as a drop in hotel bookings. Hotels and resorts have seen a large decrease in bookings due to social distancing. Travelers perceive high guest turn over and limited time between guests for cleaning as a less safe option.


Car Rentals

There are 3 main reasons we will see an increase in car rentals.

  • Travelers prefer to travel by car to have more control over their environment. Standard flight fears of terrorism, mechanical failure, and overly crowded areas aside most modern public aircraft use a 50/50 blend of recycled air and fresh air to circulate in the cabin during the flight. Roughly 85% use a HEPA filter which is designed to remove 63% of airborne pathogens. There are currently no standards or regulations that enforce filtration.
  • Vacationers are choosing destinations within a few hours of home.
  • As public ground transportation and rideshares run the risk of limited time between patrons for disinfection travelers require private rental transportation while in the vacation destination.

Flexible Bookings

Last-minute cancellation and other major policies are being updated and marketed now to encourage people to book trips. Stronger demand is expected for the winter season, with reservations for Thanksgiving, Christmas, and New Year being up by 38%, 40%, and 23%, compared to 2019. Travel companies will need to keep higher cash reserves to accommodate cancellation refunds moving forward.


Travel Insurance

With rising health and safety concerns, the importance of travel insurance has increased. Up to 30% of tourists are projected to buy travel insurance before hitting the road this travel season. Some companies have made new additions to their insurance policies to include “cancel for any reason” and medical evacuation options.


Travel Advisors

Trip cancelations and reimbursement difficulties during the pandemic left a lot of travelers with buyer’s remorse. Travelers are now turning to the services of travel agents. Not only are agents able to help vacationers plan a trip and better navigate policies and procedures, but they also help with evaluating finances and build travel that is right for every guest. It will be important moving forward to make sure travel agents in markets your guests are driving from know who you are and what you can offer.

No one can know for sure what the new face of travel will look like, but as new data comes in and trends are developed, we will find it easier to navigate and predict for our futures in the new space.