Booking by Generation: Preferences through the Ages

As people grow and evolve, it naturally happens that their likes, dislikes, and preferences about specific ways of life – whether it is food, travel, hobbies, or other aspects – tend to change. The vacation rental industry is a rapidly changing landscape directly impacted by social, political, and natural climates on a seemingly daily basis. While quality property managers (like our owners and the team at VTrips) have learned enough tricks of the trade to understand that excellent hospitality is the only fundamentally sustainable breadwinner for our sector, it is refreshing to see that even as trends change across industries, vacation rentals remain a key player. Consumer trends have transformed over the course of generations, with older populations having starkly different desires and preferences for their holiday than younger demographics. Regardless, the future of vacation rentals looks bright as society continues to regard STRs as hot commodities.?

No matter where guests choose to stay, whether at a hotel or vacation rental property, the industry is growing so fast with no signs of slowing down as the tide keeps rolling in. One of the reasons for this is that consumer awareness also continues to increase. When my career first began in STRs, focus rates said that only 11% of the US population knew where to go or how to book a vacation rental – mainly because a large part of it was strange and archaic, like customers being propositioned for holidays via mailing catalogs. Then came the platforms like VRBO and Craigslist, but it wasn’t until big-wig corporations such as Expedia, Airbnb, and Booking.com increased their advertising and boosted awareness that the public truly started to understand the world that was, quite literally, at their fingertips.?

Generational Themes and Changing Tides

Even with major names enticing customers to their platforms, category awareness still only sits at around 60% for vacation rentals, which lags far behind hotels that rank in the 80th percentile.? I believe that a large part of older generations not being privy to booking vacation rentals could be due to their misunderstanding of what they are at their core and the various amenities and personalized care they could provide. According to new research, Generation Xers want control over their trip, and Boomers are unbothered by the booking process and simply want a smooth travel experience while connecting with loved ones. On the other hand, Millennials prioritize choices when making a booking and opt for the unique experience of a vacation rental over the cookie-cutter themes and feel of hotel chains.?

Millennials and Gen Z also differ from older groups because of their interest in art, photography, and individualism. This leads them to prefer a separate space that provides a specialized theme or ambiance that doesn’t reek of genericness or, as the kids today say, being “basic.” This modern desire leaves many opportunities for vacation rentals to revamp, rebrand, and lean into their regional highlights and attractions.

Many significant themes remained the same for Millennials and Gen Xers, but the key variables that compose them are different. For example, both generations value freedom and flexibility. Still, Millennial business travelers want a variety of suppliers to choose from, while Gen Xers are mainly concerned about the ease and efficiency of making changes to their travel plans on online platforms. For Boomers, booking was not an important theme, which can relate to the early confusion surrounding STRs.

The Progression of Property Management?

As hotel standards are dropping due to poor practices, subpar amenities, and even creating fraudulent reviews to boost ratings, vacation rentals are becoming increasingly positioned as the top-tier choice for travelers. With high-quality property managers who put people at the center of everything they do, like our team at VTrips, we work diligently to build relationships with our owners and guests with trust and communication as our foundations. Through personalized care and efficient processes, we are paving the way for how younger generations consider and book their travel – and are receiving an increasing amount of positive feedback.?

Even though separate generations hold different values, experiences, and outlooks on our world and communities, it is comforting to know that regardless of age discrepancies or upbringing, people across eras have at least one thing in common. The Traveler Satisfaction: Exploring the Generational Divide in Business Travel report looked at 38 variables surrounding business travel and found that airport security lines are the top annoyance for business travelers. This fact just goes to show that no matter where or when you were born, all of us as humans still sincerely hate waiting in line. I guess patience is a virtue we are yet to master as a species – better luck next generation!?