As we closeout Women’s History Month, it is a perfect time to celebrate “HERstory” in the vacation rental industry. We at Stay For Vacay wanted to take a moment to look at the impact women have had in the travel industry and more specifically, the vacation rental industry. The last year has been very difficult for most, and the vacation rental industry is no different. But women across the board have helped to advance the industry.
Of the more than 4 million Airbnb hosts worldwide, 55% are women. And they do it well. In 2019, women Airbnb hosts have earned nearly $15 billion in that year alone. Also, for the last 12 years, the percentage of five-star reviews earned by women has grown to 83% with an average review rating of 4.77 stars.
Reasons Why Women Own Vacation Rentals
The reasons why women enter the vacation rental world runs the gamut. The love of travel is one way women get drawn into owning vacation rentals. They may have identified a favorite vacation destination. Rather than booking a hotel room every year, they decide to purchase a second home in that desired area and rent it out when they are not using it. Also, many women are responsible for making the annual family vacation plans and as a result they learned that they enjoy the vacation rental world. Others are attracted to the potential investment opportunity and operate it purely as an investment, adding several homes to their portfolio. Enjoying meeting people from new places that are staying in your home is another motivation for some women. Many women need new and flexible ways to support their family. It affords them the opportunity to work from home and earn additional income.
For those who choose to do it for additional income, the pandemic has made this even more real. Since March 2020, the start of the pandemic, women Airbnb hosts that just started out and with only one listing have collectively earned $600 million. In a recent Airbnb survey, 35 percent of these women reported that they started hosting to replace lost income from a full-time or part-time job.
Women Making Strides in the Industry
Women are also making strides stepping into leadership roles in the vacation rental industry. This year, Lodgify identified “29 Women Who are Making Waves in the Vacation Rental Industry.” They started this annual list in 2018 and the number of women included has grown. These women represent various areas that make vacation rentals possible. Congratulations to the women identified this year.
And to encourage more women leaders in the vacation rental industry, VRM Intel is working to develop skills with the Vacation Rental Women’s Summit. According to VRM Intel’s website, “Occurring every other year, the Vacation Rental Women’s Summit is designed to celebrate the accomplishments of women in the vacation rental industry, provide targeted motivational and educational sessions, and to build and encourage participants to grow as thought leaders in the fastest-growing and most exciting sector in travel.”
Since March 2020, the start of the pandemic, women Airbnb hosts that just started out, and with only one listing, have collectively earned $600 million.
This is definitely a HERstory making year for women in this industry. We are looking forward to seeing even more growth next year. And when planning your next stay for vacay, you just might run into one of these trail blazers. If you know of a woman in the vacation rental industry that you would like to recognize, comment below to let us know. Don’t forget to follow us at Instagram, Facebook, Pinterest and Twitter.
