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In an industry that is worth over $24 billion, there is an unprecedented potential for growth and profit, even in a time of economic uncertainty. Recent industry reports show that there is a 7% increase in bookings, and a 9.5% increase in the length of stay. These two items alone have generated a 10% increase in revenue for the vacation rental industry as the Average Daily Rate (ADR) of vacation rentals has remained stable. Current trends also indicate that consumers are more secure with their financial futures as the length between booking and arrival has also increased.
A recent study by PhocusWright, a leading travel research firm, revealed that there are currently around 1.26 million vacation rental properties in the US alone. If that isn't impressive enough, over half (56%) of these properties are represented by Rent-by-Owners (RBO), half of which are casual when it comes to booking their rental properties, usually only renting to friends and family or by word of mouth. The vacation rental industry has proven to be strong in a difficult climate, and today iTrip is presenting you with the opportunity to join one of the most profitable businesses in the industry.
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Today only about 12% ($2.8 billion) of renters book their vacation rental online. When compared to the fact that last year alone the leisure travel industry had over $100 billion in online bookings, it leaves plenty of room for growth for the vacation rental industry. However, the Internet continues to grow at a rapid pace and trends are showing that the vacation rental industry could soon be receiving up to 50% of their bookings online which would put online bookings for the vacation rental industry at over $12 billion.
In the past, property owners have been slow to adjust to the advancements that the Internet has offered. Given today’s difficult economical climate property owners are starting to see the light and are looking for a way to market and manage their vacation rental properties using the help of a proven, cost-friendly, and successful online business. These owners are looking for a company that offers a new internet business model, new technologies, and new services to increase their rental income. What they are seeking are the services of iTrip, and now Itrip is offering you the chance to join them with this once-in-a-lifetime internet based business opportunity.
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With mainstream use of the internet, the vacation rental industry shifted from local mom-and-pop rental management shops to some of the top online businesses known today. The challenge with this shift is that although property owners now had the ability to reach more renters for less money, they now had to take responsibility for managing their own rental properties. Property owners enjoyed the power offered by these internet based business opportunities, but property owners soon found they did not have adequate time to manage their rental properties.
The founders of iTrip were paying attention, seeing the changes within the industry they knew that their company needed a fresher, stronger business model - one that embraced the internet and harnessed the power of online marketing. Thus, out of necessity, iTrip was born. Since our conception, we have perfectly positioned ourselves to capitalize on the $24 billion vacation rental industry as it transitions. We took the best of profitable franchises, operational support and a proven system, and combined it with the best of home based franc, financial flexibility and a work from home lifestyle.
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