In 2018, Maui saw almost 3 billion visitors and over 5 billion in tourism-generated revenue, and those numbers keep getting bigger.
This year, Maui tourists have increased their spending to an average daily of 15M, and the year isn’t over yet. The best part? Many of these island-bound consumers are looking for alternative accommodation options just like yours.
It’s The End Of An Era, And The Start Of A New One
Once upon a time, timeshares and hotels dominated the market but that trend seems to be whittling. In 2016, 15% of travelers reported that they would not have chosen Hawaii as their destination had there not been a suitable alternative accommodation option. Between 2013 and 2017, Hawaii’s inventory of vacation rentals saw a growth of 82%, compared to a 2% increase in hotel rooms. Vacation Rental visitors have been increasing some 12.3% YOY while hotel growth remains stagnant.
Experts are predicting the global vacation rental industry will have a total market value of $200 billion within the next three years, up from 2016’s $138 billion.
Download our Maui Vacation Rental Report to learn more about the vacation rental trends you can be leveraging to refine your business and marketing strategies.
As Always, RedAwning Has You Covered
RedAwning has been successfully navigating the Vacation Rental market for more than seven years now, and continues to offer the industry’s leading, comprehensive suite of digital marketing and website solutions for managers and owners looking for local brand support with corporate global reach.
What does all of that mean for you? Our full-service, consultative, end-to-end approach is getting impressive results for our Maui-based vacation rental partners. Let’s put it this way. RedAwning property managers in Maui are experiencing a 25% growth rate in unique unit bookings each quarter, and those volumes continue to rise.
That’s not all. To drive the booking and revenue success for property manager partners in Maui, we now have a regionally-based Market Manager on Maui dedicated to serving property managers directly to ensure faster, more strategic planning and support, and the best results in the industry.
Want to learn more about what working with us can do for you?
Contact us and let’s talk!