BC market outlook strong for "homes away-from-home"

Self-contained suites, condos and cabins are the fastest-growing accommodation choice for visitors to B.C.

A study of short-term rentals by BCStats shows that the so-called 'vacation rentals' tripled in value from 1995 to 2007, more than twice the increase for hotels, motels and other accommodation.

"Unlike hotels and motels, vacation rentals are typically furnished residences that include kitchen facilities and other amenities that provide a 'home away from home,'" the BCStats study said.

"These properties are often located in a non-urban setting and may provide access to private beaches, fishing and skiing opportunities.

"Condominiums, cottages and cabins are common types of vacation rentals."

Tourism Vancouver spokesman Walt Judas speculated the increase is due in part to two factors -- the coming 2010 Winter Olympics and the large number of feature films now shot in B.C.

"If you look at VANOC, they'll be here for two years, then they'll be off to the next Olympic city," said Judas. "They're often referred to as gypsies.

"Then you look at the film crews. Except for the A-list actors, they typically can't afford hotel accommodations."

Judas said that vacation rentals are prevalent in ski resorts such as Whistler, where most of the accommodation is privately-owned rental chalets. "In Whistler, most of the inventory is owned by individuals," he said.

"When you're renting, you may be renting from someone who has a quarter-share in a property."

The BCStats study found that the Kootenay region showed the largest increase in revenues from 1995 to 2007 -- 362 per cent -- while the Vancouver Island-Coast region has nearly one-third of all the vacation rentals in the province, centred largely in resort areas such as the Gulf Islands, Tofino and Ucluelet.

The market outlook is strong for such non-traditional accommodation, the study said.

"Since 1995, vacation rentals have increased their share of total room revenues in most regions of the province," it said.

"Strong demand for this type of non-standard accommodation, coupled with the revenue potential for the owners of these properties, will likely encourage the continued expansion of B.C.'s vacation rental market."

(prepared by Ian Austin/Vancouver Province)