Bachcare Welcomes First Measurement of Holiday Homes Value
Holiday home management company Bachcare is delighted that its part of the accommodation sector is finally being valued for its contribution to the economy.
A new experimental study has valued New Zealand’s accommodation sharing economy at $550m in gross revenue for the year to March 2018.
Bachcare Founder Leslie Preston says the holiday home industry has boomed in the past few years and plays an incredibly important role in the New Zealand tourism industry.
‘Holiday houses are now an essential part of the accommodation offering with both domestic and international visitors considendring them as part of the accommodation mix and these new figures support that.”
The report shows revenue roughly doubled from 2016 and tripled from 2013 in the accommodation-sharing activity
Ms Preston says digitisation of the accommodation sector has meant that worldwide, visitors have come to expect that they can quickly and efficiently book quality holiday homes.
“The expectation from both international and domestic visitors has grown exponentially over the last few years. We have had to make significant investment in technology to meet an extraordinary change in the way people expect to book.
Ms Preston says the holiday home market is also helping resolve one of the New Zealand tourism industry’s most pressing issues – trying to spread visitor flows so that all regions benefit from tourism.
‘Many areas have not been able to increase visitors and visitor nights because they don’t have the accommodation infrastructure to host them the growth in holiday homes is now solving that problem for many regions.
The Statistics New Zealand study estimates accommodation-sharing’s proportion of the whole accommodation sector is 8% of total revenue and 18.1% of guest nights for the year to March 2018. That is up from 2013’s 5.9% of total revenue and 8.4% of guest nights.