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Paris
& San Diego, CA – May 2021 / Newsmaker Alert /
Key
Takeaways
-
Vacation
Rentals are among the top choice above all other forms of accommodation
for 78% of travelers, continuing even beyond the pandemic with 86% indicating
they would book one in the next 18 months.
-
Consumers
are excited to travel again with 80% of those surveyed planning to travel
in the next 18 months, with approximately half of the travelers surveyed
(49%) planning to travel domestically.
-
Respondents
indicated travel is a good motivator to take a COVID-19 vaccine with 21%
of Europeans who were undecided about taking one indicating that it being
a mandatory part of travel would push them to get vaccinated.
-
Vacation
rentals are largely booked for leisure but there is an interest from a
quarter (22%) of travelers who indicated they would book for work related
reasons (9% for business travel and 13% for an extended stay for work /
digital nomad / flexcation)
-
Travel
Insurance uptake is expected to increase with 70% of Europeans & 54%
of Americans indicating they would be more likely to purchase travel insurance
in the wake of the pandemic as health risks that can impact their trip,
like cancellation in the event of COVID Infection or confinement, become
a top of coverage for 43% of travelers surveyed.
Europ
Assistance (“EA”) & Generali
Global Assistance (“GGA”) announces the international findings of its
first Vacation Rental Barometer. EA & GGA surveyed 8,700 travelers
across eight countries in the US & Europe from February 28th to April
1st, 2021. These survey respondents, who indicated they would be traveling
in the next 18 months and planned to book a vacation rental, were surveyed
on their booking preferences, travel habits, and changing adoption and
utilization of vacation rentals.
Francine
Abgrall, Group Head of Travel at Europ Assistance: “Throughout the pandemic,
vacation rental has been one travel sector that has been less negatively
impacted than others. As the overall travel industry prepares for travel
to pick up, we wanted to know the sentiments of travellers about their
upcoming travel plans and in particular whether the favourable trend towards
vacation rental would persist. We felt it was important to gauge the sentiment
of the average traveler to provide ourselves and our partners, leaders
in the Vacation Rental booking industry, with valuable insights. Overall
the travelers we surveyed are excited to travel again, while Europeans
indicated they would prefer to travel abroad Americans opted to stay closer
to home. When deciding what type of accommodation they would like on their
next trip, 71 percent indicated they would book a vacation rental.”
Chris
Carnicelli, CEO of Generali Global Assistance: “Given the pent-up demand
for travel it’s not surprising that approximately 80 percent of respondents
indicated that they planned to travel in the next 18 months. Based on the
findings of our Vacation Rental Barometer and current industry trends,
we anticipate that travelers will flock to vacation rentals as they look
to have a relaxing socially distanced getaway.”
Upcoming
Travel Plans
-
71% of
travelers indicated they would book a vacation rental in the next 18 months
-
47% of
Europeans are planning a summer trip (from July – September) compared to
35% of Americans with summer being the most popular travel season among
all respondents (45%).
-
23% of
Americans indicated they planned to travel this spring (from April – June)
compared to 13% of Europeans.
-
21% of
American travelers indicated they planned to travel this fall, while Europeans
were more likely to wait until 2022 & beyond to plan their trip when
compared to Americans (20% vs 17%).
Destination
Preferences
-
49% of
all travelers surveyed indicated they planned to take their next trip domestically
with Americans (71%) the most likely to travel close to home.
-
55% of
European travelers on the other hand indicated that they plan to travel
abroad.
-
Travelers
in Spain (57%), Italy (54%) and Portugal (51%) opted to take their next
trip domestically while more travelers in Belgium (29%), Germany (39%),
the UK (40%) and France (45%) had plans to travel abroad.
Accommodation
Preferences
-
78% of
travelers are more likely to book a vacation rental above all other types
of accommodations in the next 18 months and 86% said they would be more
likely to continue booking them after the pandemic.
-
While
it’s not surprising that 77% of travelers indicated they would choose a
Vacation Rental for leisure instead business (9%), there was a significant
minority (13%) of Digital Nomads who indicated they would be extended stays
while working remotely.
-
Top Three
Motivations for choosing a Vacation Rental: 1) Comfort, 2) Tranquility,
3) Privacy
New
Travel Habits
-
Top Three
Criteria when picking a destination as a result of COVID: 1) Destination
has clear cleaning protocols, 2) How crowded the location gets, 3) Who
they travel with
-
Vaccine
availability was most likely to impact travel plans for both Europeans
(83%) and Americans (82%).
-
66% of
Europeans and 64% of Americans indicated that making COVID vaccinations
mandatory to board a flight wouldn’t impact them as they already planned
to take the vaccine.
-
21% of
European travelers who were undecided about taking the vaccine indicated
they would consider it if it was mandatory to take a flight.
Travel
Insurance Preferences
-
70% of
Europeans and 64% of Americans indicated they would be more likely to purchase
travel insurance as a result of the pandemic.
-
44% of
Europeans compared to 33% had purchased travel insurance when booking a
vacation rental in the past.
-
The top
three coverages that reassured travelers looking to book vacation rentals
are: 1) cancellation in the event of COVID Infection or confinement (43%),
2) Medical Assistance & Repatriation (22%), 3) Reimbursement of unused
travel days in case their stay is interrupted (20%)
-
23% of
Americans favored coverage for reimbursement for unused days compared to
20% of Europeans.
-
While
Europeans (23%) found more peace of mind from Medical Assistance &
Repatriation coverage compared to Americans (17%).
Survey
Methodology
From
February 28th to April 1st, 2021 through survey provider Phonic, Europ
Assistance surveyed 8,700 online respondents who are planning to take a
trip and are planning on booking a vacation rental in the next 18 months.
The study consisted of fifteen questions and was sampled within the United
States, Spain, France, Portugal, Belgium, Germany, Italy, and the Untied
Kingdom.
About
Europ Assistance Group
Founded
in 1963, Europ Assistance,
the inventor of assistance, supports customers in over 200 countries and
territories thanks to our network of 750,000 approved providers and 41
assistance centres. Our mission is to bring people or corporates from distress
to relief – anytime, anywhere. We provide roadside assistance, travel assistance
and insurance, as well as personal assistance services such as the protection
of the elderly, the protection of digital identity, telemedicine and the
Conciergerie. The vision of our 8,000 employees is to be the most reliable
care company in the world. Europ Assistance is part of the Generali Group,
one of the world’s leading insurers.
About
Generali Global Assistance
Generali
Global Assistance (GGA) is a leading brand comprised of Travel Insurance
& Assistance, Medical Risk & Home Care Management, Identity &
Cyber Protection, as well as other care services. GGA is part of the Generali
Group, which for over 190 years has provided peace of mind to its clients
and their customers and is now supported by more than 72,000 employees
worldwide. Our success has been built on establishing trust by putting
the customer at the core of everything we do, offering assistance and protection
during our customer’s most difficult and stressful situations.
To
learn more, please visit: us.generaliglobalassistance.com
Media
Relations:
Jean-Xavier
Franco
Head
of External Communications
T
+ 33.6.78.55.43.71
Kevin
McGrath
M
Group Strategic Communications
for
Generali Global Assistance North America
646-859-5955 |