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2012 Cape & Islands Vacation Rental Booking Season Sets Strong Pace

FOR IMMEDIATE RELEASE
Contact: Elizabeth Weedon
Phone: (888) 281-8660
E-mail: elizabeth@weneedavacation.com

February 8, 2012 – During the first full month of the 2012 vacation rental season, weekly bookings on Cape Cod, Martha’s Vineyard and Nantucket listed with WeNeedaVacation.com have measured a significant 16.3% gain over the early 2011 season. The greatest increase has occurred on the Vineyard, whose bookings rose by nearly 26%, followed by the Cape’s 15%, and Nantucket’s 8%.

And last season was certainly not a soft one: 2011 numbers were, in turn, up 21% over 2010 bookings during the same period. For a further historical perspective, early bookings this year have surpassed the difficult 2009 season by as much as 53%, and they have even posted gains of over 13% above the more robust, pre-recession, 2008 season.

Lower priced homes across the region are faring better than higher-end ones. Homes priced at $2,000/week and below are enjoying a 21% increase in bookings over this time last year, those priced between $2,000 and $3,000/week are up 14%, and those over $4,000/week are up only 3%.

Not surprisingly, the continued strength in booking numbers is reflected by more aggressive pricing so far this season. On Cape Cod, prices are up a fairly strong 2.9% or $76 per home, vs. $58 per home last year and only $51 the year before. On Martha’s Vineyard, homeowners appear to be even more confident, raising prices 3% or $95 vs. nearly half that last year: $48. On Nantucket, we see the biggest jump in pricing of all. While prices actually decreased there between 2009 and 2010 by $107 (2.4%) and rose marginally last year $29 (.7%), they jumped up this year by a significant $122 or 2.8%. The average rental price on the Vineyard this year is 18% higher than the average on the Cape, and Nantucket is 65% higher than the Cape.

In terms of vacationer traffic, the website has received 115,000 unique visitors so far this year, up 11% over 2011 for the same time period. This is yet another indication that, despite continuing economic concerns, folks are determined to take a Cape or Islands vacation this year.

WeNeedaVacation.com Conclusions: Despite the positive early indications in both booking and pricing numbers on the website, the company’s outlook remains cautious, knowing that it’s still far too early in the season to draw any definite conclusions. Despite last year’s early booking success, for example, the 2011 summer season closed with a more modest 5.1% increase over the previous rental year. Depending on how this season continues to evolve, the progressively stronger, early booking numbers of the past few years may merely reflect a trend towards vacationers choosing to book earlier in the year, rather than in stronger numbers. WeNeedaVacation.com will continue to track all indicators and report throughout the remainder of the 2012 rental season.

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About WeNeedaVacation.com: Since 1997, WeNeedaVacation.com has been providing an efficient and inexpensive way of matching vacationers and vacation rental homeowners. The website lists more than 4,000 properties on Cape Cod, Martha's Vineyard, and Nantucket. The WeNeedaVacation.com Vacation Planner also offers extensive information to the 175,000+ vacationers who use our site yearly, including information about beaches, events, dining, activities, and shopping. Our amazing staff collectively has over 100 years of experience as Cape & Islands vacation rental homeowners. We love the Cape and Islands, work hard to promote this special place, and proudly belong to 17 local Chambers of Commerce.

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Email: info@weneedavacation.com

Phone: (888) 281-8660