Summary

India Vacation Rentals Market Research Report Information by Property Type (Individual House, Apartments (incl. Serviced Apartments), Cottages and resorts, Villas, Boutique Hotels, and Others), by Type (Short-term, and Medium-term), By Age Group (Gen Alpha, Gen Z, Millennials, Gen X, and Baby Boomers), by pricing (Economy, Mid-Range, and Premium), by End user (Individual, Group, and Business) Forecast to 2032
Market Overview
The vacation rentals market in India is expected to experience substantial growth during the review period, with a compound annual growth rate (CAGR) of 19.18%. The market is anticipated to attain a value of USD 11,774.99 million by the conclusion of the forecast period (2023-2032), with an estimated value of USD 2,042.38 million in 2022.
In recent years, the vacation rentals market in India has experienced significant growth and transformation, driven by a growing middle class with disposable income, altering travel preferences, and an increasing level of internet penetration. This executive summary offers a thorough examination of the vacation accommodations market in India as it stands at the present time. The vacation rentals market in India has undergone a paradigm shift, as travelers are increasingly choosing alternative accommodation options over traditional hotels. The desire for distinctive and personalized experiences, cost-effectiveness, and the convenience provided by vacation rentals are all contributing factors to this change. The market is distinguished by a wide variety of properties, such as villas, apartments, homestays, and boutique properties. Additionally, the Indian vacation rentals market is dominated by a number of key participants, such as established India platforms and homegrown startups. The pioneers utilize their extensive networks and technology-driven platforms to provide travelers with a wide range of accommodation options. The market is fraught with intense competition, as participants are perpetually striving to improve the user experience and secure a larger portion of the expanding demand. Furthermore, the surge in demand for vacation rentals has been significantly influenced by the burgeoning trend of experiential travel and the emergence of the work-from-anywhere culture. Travelers desire more than merely a place to stay; they aspire to immersive experiences that are indicative of the local culture and lifestyle. Furthermore, the COVID-19 pandemic has expedited the adoption of vacation rentals as a safer and more isolated accommodation option, offering an appealing alternative to densely populated hotels.
Market Segmentation
The market has been segmented into the following categories: Individual Houses, Apartments (including Serviced Apartments), Cottages and Resorts, Villas, Boutique Hotels, and Others.
The market has been categorized into short-term and medium-term segments based on type.
The market has been segmented into Gen Alpha, Gen Z, Millennials, Gen X, and Baby Boomers based on age.
The market has been segmented into two categories: men and women.
The market has been segmented into individual, group, and business segments based on the end consumer.
It is classified as economy, mid-range, and premium based on its pricing.
This segment is classified as either online or offline, contingent upon the mode of booking.
The India vacation accommodations market is divided into four regions: North, South, East, and West.
Major Players
The vacation rentals market in India is dominated by Airbnb Inc., as well as MakeMyTrip Limited, Booking Holdings, Oravel Stays Limited, Yatra Online, Inc., Expedia Group, Inc., Tripadvisor LLC, StayVista, Homestay.Com, SaffronStays, Zostel, GuestHouser, Nivalink, Holidify Travels Pvt Ltd., Treebo.com, and MyIndianStay.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 22
1.1 INDIA VACATION RENTALS MARKET, BY PROPERTY TYPE 23
1.2 INDIA VACATION RENTALS MARKET, BY TYPE 24
1.3 INDIA VACATION RENTALS MARKET, BY AGE GROUP 25
1.4 INDIA VACATION RENTALS MARKET, BY GENDER 26
1.5 INDIA VACATION RENTALS MARKET, BY END USER 27
1.6 INDIA VACATION RENTALS MARKET, BY PRICING 28
1.7 INDIA VACATION RENTALS MARKET, BY BOOKING MODE 29
1.8 INDIA VACATION RENTALS MARKET, BY REGION 30
2 MARKET INTRODUCTION 32
2.1 DEFINITION 32
2.2 SCOPE OF THE STUDY 32
2.3 RESEARCH OBJECTIVE 32
2.4 MARKET STRUCTURE 33
3 RESEARCH METHODOLOGY 34
3.1 OVERVIEW 34
3.2 DATA FLOW 36
3.2.1 DATA MINING PROCESS 36
3.3 PURCHASED DATABASE: 37
3.4 SECONDARY SOURCES: 38
3.4.1 SECONDARY RESEARCH DATA FLOW: 39
3.5 PRIMARY RESEARCH: 40
3.5.1 PRIMARY RESEARCH DATA FLOW: 41
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED 42
3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE 42
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: 43
3.6.1 CONSUMPTION & NET TRADE APPROACH 43
3.6.2 REVENUE ANALYSIS APPROACH 43
3.7 DATA FORECASTING 44
3.7.1 DATA FORECASTING TECHNIQUE 44
 
3.8 DATA MODELING 45
3.8.1 MICROECONOMIC FACTOR ANALYSIS: 45
3.8.2 DATA MODELING: 46
3.9 TEAMS AND ANALYST CONTRIBUTION 48
4 MARKET DYNAMICS 49
4.1 INTRODUCTION 50
4.2 DRIVERS 51
4.2.1 GROWING INDIAN TOURISM INDUSTRY 51
4.2.2 INCREASING TREND OF TRANSFORMATIONAL TRAVEL 53
4.2.3 INCREASING AVAILABILITY OF VACATION RENTALS 54
4.3 RESTRAINTS 56
4.3.1 GOVERNMENT REGULATIONS AND POLICIES 56
4.3.2 CHANGING CONSUMER BEHAVIOR AND PREFERENCES 57
4.4 OPPORTUNITY 58
4.4.1 ADOPTION OF EFFECTIVE PROMOTIONAL STRATEGIES 58
4.4.2 USE OF SOCIAL MEDIA PLATFORMS FOR TRAVEL BOOKINGS 59
4.5 CHALLENGES 61
4.5.1 RISK ASSOCIATED WITH FRAUDULENT VACATION RENTAL HOUSES & APARTMENTS 61
4.6 STRATEGIC INSIGHTS 62
4.6.1 TECHNOLOGY UPDATE 62
4.6.2 REGIONAL MARKETS TO LOOKOUT FOR INDIAN VACATION RENTALS MARKET 62
4.7 REGULATORY UPDATE 63
4.8 MARKET PERFORMANCE OF THE INDIA VACATION RENTALS COMPANIES IN THE
LAST 10 YEARS 63
4.9 MARKET TRENDS 64
4.9.1 FUTURE PROJECTIONS IN INDIA VACATION RENTALS MARKET 64
4.10 QUALITATIVE ANALYSIS OF KEY MARKET INDICATORS IN THE INDIAN VACATION
RENTALS MARKET 65
4.11 BIGGEST BUSINESS OPPORTUNITIES (QUALITATIVE) 66
4.12 IMPACT ANALYSIS OF COVID-19 66
4.12.1 IMPACT ON THE OVERALL TOURISM INDUSTRY 66
4.12.1.1 ECONOMIC IMPACT 67
4.12.2 IMPACT ON THE INDIA VACATION RENTALS MARKET 67
4.12.3 IMPACT ON MARKET DEMAND OF VACATION RENTALS MARKET 68
4.12.3.1 IMPACT DUE TO RESTRICTIONS/LOCKDOWN 68
4.12.3.2 CONSUMER SENTIMENTS 68
4.12.4 IMPACT ON PRICING OF VACATION RENTALS 69
4.12.5 CONSUMER BEHAVIOR ANALYSIS 69
5 MARKET FACTOR ANALYSIS 70
5.1 VALUE CHAIN ANALYSIS 70
5.1.1 PROPERTY ACQUISITION AND LISTING 70
5.1.2 BOOKING & RESERVATION MANAGEMENT 71
5.1.3 GUEST SERVICES & PROPERTY MAINTENANCE 72
5.2 PORTER’S FIVE FORCES MODEL 73
5.2.1 THREAT OF NEW ENTRANTS 73
5.2.2 BARGAINING POWER OF SUPPLIERS 74
5.2.3 THREAT OF SUBSTITUTES 74
5.2.4 BARGAINING POWER OF BUYERS 75
5.2.5 INTENSITY OF RIVALRY 75
5.3 COMPARATIVE ANALYSIS OF THE INDIAN VACATION RENTALS MARKET WITH GLOBAL
VACATION RENTAL MARKET 76
5.4 LIST OF 20 MARKET GEOGRAPHIES OF THE TOP FIVE COMPANIES OPERATING IN INDIA
VACATION RENTALS MARKET 76
5.5 QUALITATIVE ANALYSIS OF THE PRICING MODEL OF THE TOP FIVE COMPANIES
OPERATING IN THE INDIA VACATION RENTALS MARKET 77
5.6 QUALITATIVE ANALYSIS OF CUSTOMER SERVICE & CUSTOMER SATISFACTION OF
TOP THREE COMPANIES IN THE INDIA VACATION RENTALS MARKET 78
5.7 SERVICE FEE (%) CHARGED BY THE TOP THREE COMPANIES IN THE INDIA VACATION
RENTALS MARKET 79
5.8 CONSUMER FEEDBACK OF TOP FIVE PLAYERS – OVERVIEW (QUALITATIVELY) 80
5.9 OVERVIEW OF CONTRACTS WITH INSURANCE PROVIDERS (QUALITATIVELY) 82
6 INDIA VACATION RENTALS MARKET, BY PROPERTY TYPE 84
6.1 INTRODUCTION 84
6.2 INDIVIDUAL HOUSE 85
6.3 APARTMENTS (INCL. SERVICED APARTMENTS) 86
6.4 COTTAGES & RESORTS 87
6.5 VILLAS 88
6.6 BOUTIQUE HOTELS 88
6.7 OTHERS 89
 
7 INDIA VACATION RENTALS MARKET, BY TYPE 90
7.1 INTRODUCTION 90
7.2 SHORT-TERM 91
7.3 MEDIUM-TERM 92
8 INDIA VACATION RENTALS MARKET, BY GENDER 93
8.1 INTRODUCTION 93
8.2 MEN 94
8.3 WOMEN 95
9 INDIA VACATION RENTALS MARKET, BY PRICING 96
9.1 INTRODUCTION 96
9.2 ECONOMY 97
9.3 MID-RANGE 98
9.4 PREMIUM 99
10 INDIA VACATION RENTALS MARKET, BY AGE GROUP 100
10.1 INTRODUCTION 100
10.2 GEN ALPHA 101
10.3 GEN Z 102
10.4 MILLENNIALS 103
10.5 GEN X 103
10.6 BABY BOOMERS 104
11 INDIA VACATION RENTALS MARKET, BY END USER 105
11.1 INTRODUCTION 105
11.2 INDIVIDUAL 106
11.3 GROUP 107
11.4 BUSINESS 108
12 INDIA VACATION RENTALS MARKET, BY BOOKING MODE 109
12.1 INTRODUCTION 109
12.2 OFFLINE 110
12.3 ONLINE 111
12.3.1 DIRECT 111
12.3.2 TRAVEL AGENCIES 112
 
13 INDIA VACATION RENTALS MARKET, BY REGION 113
13.1 OVERVIEW 113
13.2 INDIA 114
13.2.1 NORTH 119
13.2.2 SOUTH 121
13.2.3 EAST 123
13.2.4 WEST 125
14 COMPETITIVE ANALYSIS 127
14.1 INTRODUCTION 128
14.2 COMPETITION DASHBOARD 129
14.2.1 PRODUCT PORTFOLIO 130
14.2.2 REGIONAL PRESENCE 130
14.2.3 STRATEGIC ALLIANCES 130
14.2.4 INDUSTRY EXPERIENCES 130
14.3 MARKET SHARE ANALYSIS, 2022 130
14.4 WHO ARE THE MAJOR DISRUPTORS & INNOVATORS 131
14.5 WHAT STRATEGIES ARE BEING ADOPTED BY MARKET LEADERS 131
14.6 LIST OF KEY PLAYERS/BRANDS, BY REGION 132
14.7 KEY DEVELOPMENTS & GROWTH STRATEGIES 132
14.7.1 SERVICE LAUNCH 132
14.7.2 PARTNERSHIP 133
14.7.3 COLLABORATION 133
14.7.4 REBRANDING 133
14.7.5 BRAND CAMPAIGN 133
15 COMPANY PROFILES 134
15.1 AIRBNB INC. 134
15.1.1 COMPANY OVERVIEW 134
15.1.2 FINANCIAL OVERVIEW 135
15.1.3 SERVICES OFFERED 136
15.1.4 KEY DEVELOPMENTS 136
15.1.5 SWOT ANALYSIS 136
15.1.6 KEY STRATEGY 137
 
15.2 MAKEMYTRIP PVT. LTD. 138
15.2.1 COMPANY OVERVIEW 138
15.2.2 FINANCIAL OVERVIEW 139
15.2.3 SERVICES OFFERED 140
15.2.4 KEY DEVELOPMENTS 140
15.2.5 SWOT ANALYSIS 140
15.2.6 KEY STRATEGY 141
15.3 BOOKING HOLDINGS 142
15.3.1 COMPANY OVERVIEW 142
15.3.2 FINANCIAL OVERVIEW 143
15.3.3 SERVICES OFFERED 144
15.3.4 KEY DEVELOPMENTS 144
15.3.5 SWOT ANALYSIS 144
15.3.6 KEY STRATEGY 145
15.4 ORAVEL STAYS LIMITED 146
15.4.1 COMPANY OVERVIEW 146
15.4.2 FINANCIAL OVERVIEW 147
15.4.3 SERVICES OFFERED 147
15.4.4 KEY DEVELOPMENTS 147
15.4.5 SWOT ANALYSIS 147
15.4.6 KEY STRATEGY 148
15.5 YATRA ONLINE, INC. 149
15.5.1 COMPANY OVERVIEW 149
15.5.2 FINANCIAL OVERVIEW 150
15.5.3 SERVICES OFFERED 150
15.5.4 KEY DEVELOPMENTS 150
15.5.5 SWOT ANALYSIS 151
15.5.6 KEY STRATEGY 151
15.6 EXPEDIA GROUP, INC. 152
15.6.1 COMPANY OVERVIEW 152
15.6.2 FINANCIAL OVERVIEW 153
15.6.3 SERVICES OFFERED 154
15.6.4 KEY DEVELOPMENTS 154
15.6.5 KEY STRATEGY 154
 
15.7 TRIPADVISOR LLC 155
15.7.1 COMPANY OVERVIEW 155
15.7.2 FINANCIAL OVERVIEW 156
15.7.3 SERVICES OFFERED 157
15.7.4 KEY DEVELOPMENTS 157
15.7.5 KEY STRATEGY 157
15.8 STAYVISTA 158
15.8.1 COMPANY OVERVIEW 158
15.8.2 FINANCIAL OVERVIEW 159
15.8.3 SERVICES OFFERED 159
15.8.4 KEY DEVELOPMENTS 159
15.8.5 KEY STRATEGY 159
15.9 HOMESTAY.COM 161
15.9.1 COMPANY OVERVIEW 161
15.9.2 FINANCIAL OVERVIEW 162
15.9.3 SERVICES OFFERED 162
15.9.4 KEY DEVELOPMENTS 162
15.9.5 KEY STRATEGY 162
15.10 SAFFRONSTAYS 163
15.10.1 COMPANY OVERVIEW 163
15.10.2 FINANCIAL OVERVIEW 164
15.10.3 SERVICES OFFERED 164
15.10.4 KEY DEVELOPMENTS 164
15.10.5 KEY STRATEGY 165
16 DATA CITATIONS 166