NAICS Code 531311-11 - Vacation Rentals

Marketing Level - NAICS 8-Digit

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NAICS CODE 531311-11
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NAICS Code 531311-11 Description (8-Digit)

The Vacation Rentals industry involves the management and rental of furnished properties, such as apartments, houses, villas, and cabins, to tourists and travelers for short-term stays. These properties are typically owned by individuals or investors who hire property managers to handle the rental process. Vacation rentals can be found in popular tourist destinations, as well as in more remote locations for those seeking a secluded getaway. This industry has experienced significant growth in recent years due to the rise of online booking platforms and the increasing popularity of alternative accommodations over traditional hotels.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 531311 page

Tools

Tools commonly used in the Vacation Rentals industry for day-to-day tasks and operations.

  • Channel manager software
  • Dynamic pricing tools
  • Online booking platforms
  • Property management software
  • Revenue management software
  • Social media management tools
  • Vacation rental website builders
  • Yield management software

Industry Examples of Vacation Rentals

Common products and services typical of NAICS Code 531311-11, illustrating the main business activities and contributions to the market.

  • Beachfront condos
  • Cabin rentals
  • City apartments
  • Country cottages
  • Lake houses
  • Mountain chalets
  • Oceanfront villas
  • Ski lodges
  • Vacation homes
  • Waterfront bungalows

History

A concise historical narrative of NAICS Code 531311-11 covering global milestones and recent developments within the United States.

  • The vacation rental industry has a long history dating back to the early 1800s when wealthy families would rent out their second homes to other wealthy families. However, it wasn't until the 1950s and 1960s that vacation rentals became more popular and accessible to the middle class. This was due to the rise of the automobile and the development of highways, making it easier for families to travel to vacation destinations. In recent years, the vacation rental industry has seen significant growth due to the rise of online platforms such as Airbnb and HomeAway, which have made it easier for property owners to rent out their homes to travelers. In the United States, the vacation rental industry has experienced significant growth in the past decade. According to a report by Skift Research, the vacation rental market in the US was valued at $32.4 billion in 2019, up from $24.3 billion in 2016. This growth can be attributed to several factors, including the rise of online platforms, the increasing popularity of vacation rentals among travelers, and the growing number of property owners who are renting out their homes. Despite challenges such as regulatory issues and competition from hotels, the vacation rental industry in the US is expected to continue to grow in the coming years.