From 2019 to 2020, residential domestic travel demand in the United States fell by over 53%. Non-resident travel demand also decreased steeply by 82.4%. Overall, the U.S. travel and tourism economic output dropped from $1.96 trillion in 2019 to $978.4 billion in 2020.
Things began to change when vaccines became available, triggering the lift of travel bans. By 2021, revenge travel became a thing, and for many, Kalispell, MT, was a prime destination.
So, what exactly is revenge travel, and why should you care? Keep reading to find out.
What Is Revenge Travel?
Revenge travel is a media buzzword coined in 2021 when many places worldwide started opening their doors to travelers again. The lifting of travel bans prompted many folks to make up for lost time after staying put for months and following stay-at-home orders. Part of that was to go on post-pandemic travel, heading to what they believed were the best vacation destinations.
It was like saying life is short, YOLO (you only live once), and there might be no better time than now to spend more time with loved ones, book that trip, and explore the world.
And so they did. Many started going on holidays soon after travel restrictions went away.
However, 2023 saw the highest surge in U.S. household vacations: 32.8% went on a holiday between May and August 2023, compared to 28.5% in August 2022. That was also a record high compared to previous years as far back as 2015.
Why Care About Revenge Travel
Even if you're not the one going on holiday, you can still benefit from revenge travel by renting your Kalispell home to travelers. You can offer your property to vacationers as a short-term rental and generate extra income. Then, during vacancy periods, you can use it for personal purposes.
Kalispell, Montana, is an excellent place to host vacationers since it's a gateway to Glacier National Park. Indeed, of the 1.9 million folks who visited this beautiful city, over eight in ten spent time in this park. Non-resident stays averaged over five days, with many exploring nearby Yellowstone Park or all the other State Parks.
Making the Most of Revenge Travel
To up your vacation hosting ante, conduct a thorough rental valuation of your property first. That will let you determine how much other hosts charge for similar properties in the same area. You can then use your findings as a guide to set your off-peak and peak-season pricing points.
Next, market your property via social media and popular vacation platforms. Ensure you create engaging listings highlighting your property's best features.
Include travel planning advice in your descriptions to further pique interest. For example, you can provide adventure travel guides for your area. That can make guests imagine themselves in Kalispell, encouraging them to book that trip and your home.
Make Revenge Travel Work For You
Revenge travel has taken the world by storm as more folks realize the importance of going on holidays. So, why not make the most of it by renting your home to vacationers?
At PMI Realty Management NW, we can help you benefit from revenge travel. We provide full-service solutions to help property owners like you access more profitable real estate asset management services. We're also a proud affiliate with PMI, a global property management franchise managing over $5 billion of assets.
So, call us today and get your free rental analysis!
