Leisure trips and travel on the rise, demand for lodging at a high, and hotel rates going up.
2015 looks like it will be a great year for the travel industry, especially for vacation rentals. US travelers plan to take an average of 4.25 leisure trips this year, up from 3.97 last year, according to TripAdvisor. Data from that same release shows that 25 percent of travelers plan to stay in a vacation rental sometime this winter.
By the end of 2015, “demand for lodging accommodations will have increased 25.8 percent since the depths of the recession in 2009,” according to a recent report by PKF Hospitality Research.
Vacationers are also planning to spend more money on their travels in 2015. One-third plan to increase their spending and take more time for leisure travel compared to 2014. If travelers are spending more, they’ll likely be more interested in protecting their trip costs by purchasing travel insurance. Partnering with CSA Travel Protection can make that easy for you and your guests.
Hotel room rates in the US are forecast to rise 4.5 percent in 2015, according to the 2015 Global Travel Price Outlook. Vacation rentals only become more attractive as the cost of staying at a hotel continues to rise.
Vacation rentals are a huge sector of the lodging industry and continue to take more market share. One of the main points of EY’s Global Hospitality Insights 2014 report on the hotel industry is the growing competition from vacation rentals:
“Alternative lodging accommodations no longer cater solely to the cash-strapped traveler. Today, they have gained industry recognition as an alternative preferred by guests seeking greater flexibility, convenience and social interaction than is commonly found in a traditional hotel setting.”
CSA Travel Protection can help boost the convenience factor by offering your guests Vacation Rental Damage Protection, an easy option for avoiding a security deposit, and our travel insurance can help smooth out many unexpected inconveniences your guests could experience on vacation, such as travel delay, trip interruption, lost baggage, medical emergencies and more (see description of coverage for full details).
Contact us at clientservices@csatravelprotection.com or (800) 989-8684 to find out how we can build a valuable and profitable travel insurance program for you and your guests.
Learn more about partnering with CSA
This plan provides insurance that applies only during the covered trip. Your customers may have coverage from other sources that provides them with similar benefits but may be subject to different restrictions depending upon their other coverages. Customers may wish to compare the terms of this policy with their existing life, health, home and automobile policies. The purchase of this plan is not required in order to purchase any other travel product or service offered by you by your travel retailers.
Plans are available to residents of the United States. Benefits and services are described on a general basis. Certain terms and conditions may apply. Your travel retailer may not be licensed to sell insurance, and cannot answer technical questions about the benefits, exclusions, and conditions of this insurance and cannot evaluate the adequacy of your existing insurance. For questions or complete information on policy benefits, limits and exclusions, please contact CSA at (800) 348-9505 or http://www.csatravelprotection.com/certpolicy.do for a sample Description of Coverage or Insurance Policy for this plan.
These plans are administered by CSA Travel Protection and Insurance Services. Services are provided through CSA’s designated providers. Travel Insurance is Underwritten by: Generali U.S. Branch, New York, New York; NAIC # 11231 (all states except as otherwise noted) under Policy/Certificate Form series T001. California is Underwritten by Generali Assicurazioni Generali S.P.A. (U.S. Branch), Colorado is Underwritten by Assicurazioni Generali – U.S. Branch, Oregon is Underwritten by Generali U.S. Branch DBA The General Insurance Company of Trieste & Venice, and Virginia is Underwritten by The General Insurance Company of Trieste and Venice – U.S. Branch.