A note from Todd Brooks at Island Getaway

The upcoming rental season is showing very positive signs, as advance bookings are up over 20% versus this time last year.    We saw nice stabilization of  the market in 2010 and less deviation from the published rates.  People always have, and always will want some type of “deal”; but as the rental market strengthens, the pendulum begins to swing in our direction.  I believe we saw the bottom of the market in 2009.  A good barometer for the overall market is Internet reservations.  Our online bookings are up substantially for the upcoming season, which is a positive indication.  This shows willingness for consumers to spend money in advance and at the published rates, which we have not seen in volume since the pre-recession years.

Book Your Vacation Now for Hilton Head!

Another major factor in determining the health of the rental market is the motivation behind the decision to book a property.  In a soft year, price primarily dictates everything and reservations are made far less in advance.  As the markets firms up, rentals are based on a combination of price, location, and condition. Guests will tend to pull the trigger if they find a property they like and it suits their needs, as opposed to waiting around to get a better deal.  We are witnessing more and more of this mentality on our 2011 bookings.  As the occupancy levels rise it creates a sense of urgency to make your vacation plans now, to avoid the risk having to book an inferior property. Potential renters will pay a premium (or not ask for a discount) for the peace of mind of having set plans for their summer vacation.

Higher Occupancies for 2011

Rentals rates have not really seen an increase over the last two years, although overall numbers will show marked improvement during that period.  The trend for 2011 is showing higher occupancy levels and less discounting of the published rates, which is a very bullish sign.  We are certainly headed in the right direction.

For more information about Vacation Rentals

Please feel free to contact Todd Brooks, the owner of Island Getaways by phone (843)842-4664 or via email at Todd@islandgetaway.com.