Travel Rental Network Reports Growth and Diversification in the Mediterranean Vacation Rental Market

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Reports from the United Nations World Tourism Organization indicate an increase in Mediterranean tourism, which, according to Travel Rental Network, has led to growth in the Mediterranean vacation rental market, as well as to an increased willingness on the part of Mediterranean vacation rental owners to work with travel agents on commission.

According to the United Nations World Tourism Organization (UNWTO), global tourism has increased steadily in the first quarter of 2011, owing mostly to recovery in the global economy. The organization reports a particular increase in visitors to southern Europe and Mediterranean destinations, which is likely a trade-off resulting from decreased tourism in the Middle East and Northern Africa. According to Travel Rental Network, these changes are also evident in the vacation rental market and have affected the way owners in the Mediterranean market their properties.

“Speaking to our owners, we’ve seen major growth in almost all markets, but the Mediterranean destinations – France, Spain and Italy in particular – have seen major growth,” says Brian Schwimmer, CEO of Travel Rental Network. “They’re also reporting more international travelers than ever before, which definitely works well for us, since many international travelers work with travel agents, especially if they don’t speak the language of the country they’re visiting.”    

According to Schwimmer, this factor has also increased the willingness of Mediterranean homeowners to work with travel agents, which means agents can expect even more commissionable rentals in the region than ever before. They should not, however, expect very deep discounts.

“In 2009 and 2010, we saw homeowners really slash their prices, especially in regions that were heavily dependent on UK tourism, like Spain. This year, though, prices are normalizing once again, so people expecting the same discounts they saw last year might be in for a surprise.”

Renewed optimism among Mediterranean vacation rental owners has also increased their willingness to diversify their marketing strategy and begin aggressively promoting their rental once more, which Schwimmer cites as another major reason why Travel Rental Network’s Mediterranean vacation rental listings have expanded so quickly in the past few months.

Founded in 2008, Travel Rental Network provides travelers and travel agents with a searchable database of thousands of beautiful and affordable hand-picked vacation rental properties around the world. One of the fastest growing vacation rental providers, Travel Rental Network’s staff of former travel agents, travel marketing specialists, real estate agents and property management experts pride themselves on industry-leading customer care and expertise.

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Joe Schwimmer

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