Ever since Walt Disney decided to build Disney World in Orlando, Florida, tourism has been at the center of the city’s economy. Today, Orlando has more entertainment attractions and theme parks than any other city in the world. With such a buzzing tourism industry and so many places to see and things to do, there are a large number of vacation homes in the city. There are hundreds of vacation home rentals just minutes from the major attractions.
The figures
Although these figures are representative of the hotel industry, we can still recognise general tourism trends that are likely to impact the vacation home industry. Hotel Horizons magazine published a variety of predictions for the 2012 year. These figures and estimate are courtesy of PKF Consulting USA, a real estate firm and advisory that specializes in the hospitality industry.
- All markets will exceed the previous peak level of demand in 2012.
- Demand for vacation accommodation will rise an estimated 3.1%, with a 0.7% increase in room inventory. This shows that although new accommodations are still being developed, the demand for them is rising by a much higher margin.
- Occupancy in hotels in America is expected to rise to 61.2% in 2012, as the demand for growth surpasses that supply.
These figures indicate that the amount of tourist is growing much quicker than the amount of room space available. This means that there is scope for a more extensive hospitality industry in Orlando, including that of vacation homes.
In the midst of a recession, the rental of vacation homes in Orlando may become even more popular as people shy away from expensive hotels and expensive meals and choose self-catering options.
The benefits of renting a vacation home
- Many have amenities such as pools, spas, and more so you don’t miss out on hotel facilities.
- Cooking your own meals means saving money.
- Orlando Vacation rentals are often cheaper over a longer stay.
- Parking is usually free and accessible.
- You have your own private space.
In these times of real estate crash, one could even consider buying a rental home in Orlando, as real estate prices are far less than they were three or more years ago.
Considering all these benefits, the outlook of the vacation rental industry in Orlando is a positive one, as people continue to seek some Disney magic in an economic downturn.
