Millennials Looking for Hidden Getaways on Vacation

19 Nov Millennials Looking for Hidden Getaways on Vacation

Posted at 16:53h in Blog Posts by Kelly Burton

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London, Kentucky is known for its beautiful outdoor recreational activities in the Daniel Boone National Forest. Recreation activities like Kayaking, Hiking, and ATV Riding does not stop there as visitors are planning their next adventure! Tourists, especially Millennials, are now seeking accommodations off the grid with Hidden Getaways in Vacation Rental Market.

According to Mashvisor.com, Millennials enjoy immersing themselves in other cultures and behaving as locals. The vast majority of millennials polled in the US say that:

It’s important that their accommodations offer opportunities to experience the local culture
They’re looking for more adventures when they travel
It’s more important for them to discover hidden local places than to visit major tourist attractions

Tips for Vacation Home Rental Real Estate Investors

According to HomeAway, millennials are ditching their solo backpacker mindset and are beginning to travel in larger and larger groups of friends, as well as bringing their new young families on vacation with them. Millennials and Generation Z alike are said to be 35% more likely to travel in large groups now as opposed to alone. It was also found the only 20% of both generations have NOT stayed in a vacation home or condo.

This market is projected to grow leaps and bounds in the year 2020. If you are currently in the Vaction Rental Home business or thinking about investing in this industry, make sure you are paying all the appropriate taxes, this includes state and county transit tax. Each community is different in how taxes are collected. Contact your local CVB or Tourism Commission to learn more about the vacation rental home industry.