Technavio forecasts that the Europe vacation rental market will grow by USD 185.1 billion at a CAGR of 25.79% between 2023 and 2028. The market’s impressive growth is largely attributed to an increasing number of tourists seeking alternative accommodations beyond hotels. This shift is driven by effective promotional strategies from vacation rental platforms and property managers who leverage travel technology to simplify the discovery and booking process for unique and affordable lodging options. However, one key challenge remains: the inconsistency in maintaining high standards for vacation rental properties. To build and sustain a positive reputation, maintaining cleanliness, reliable maintenance, and excellent customer service is essential. Additionally, incorporating advanced technology such as smart homes and offering contactless check-ins are becoming necessary to meet modern travelers' expectations. The market holds vast growth potential, but the delivery of consistent, high-quality experiences will be critical for continued success.

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