2022 Alternative Accommodations Global Trends & Outlook Report
Latest Global trends and outlook
- Gilda Perez-Alvarado
- Kevin Davis
- Zachariah Demuth
- Geraldine Guichardo
- Ophelia Makis
The alternative accommodations sector has undergone a transformational shift over the past decade. What started as a marketplace for individuals to rent out their primary or secondary homes as a means of generating extra income has evolved into a complex, highly matrixed space akin to the traditional lodging industry. The sector's evolution intensified during the Covid-19 pandemic as increasing flexibility to work remotely coupled with a heightened focus on quality of life and experiences, has given rise to transformational changes in the workplace. Professional digital nomads, generation-Z entering the workplace, and millennials, many in management and senior management positions, feel empowered to live, work, stay, and play wherever they wish, albeit these spaces must comfortably accommodate all their needs. This paradigm shift has resulted in the alternative accommodations sector's unprecedented growth over the past two years.
Originally designed to appeal to younger, cash-strapped leisure travelers, the alternative accommodations sector's demand base has expanded significantly due to the pandemic. Now, corporate travelers, bleisure, business groups, and affluent families on vacation make up a greater share of the sector's consumer base. This has resulted in the creation of a multitude of sub-sectors as the space matures from purely short-term rentals to the formation of
Distribution platforms
Branded home property managers
Branded multifamily alternatives
Membership programs
Shared accommodations