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Singapore Rental Blog

04 Jan 2017

Private travel accommodation bookings to reach US$106 Billion by 2018

While short-term rental accommodation such as apartments and condo's for rent in Singapore are not permitted the sector remains strong on a global basis.

According to a recent report by Susquehanna International Group (SIG), private accommodation will account for almost a fifth of global hospitality bookings within two years – and the online travel agency giants are tipped to benefit.

In terms of figures, private (alternative) accommodation is expected to hit $106 billion in 2018, some 19% of the overall global room bookings in the market of $555 billion.

The overall share of private accommodation is increasing steadily, but not as dramatically as some might have guessed, with its portion of the market in 2014 at 16% ($69 billion) and 2016 at 18% ($88 billion).

(RENTALS.SG sister company, RENTALSWORLDWIDE.COM consolidates short-term accommodation, long-term accommodation and yacht charters on a global platform).