Did you know there are only 17,000 hotel rooms in the greater Coachella Valley?
In a region that relies heavily on tourism, that number is extremely low... So where are all the visitors staying?
The Answer: Short-term Vacation Rentals.
Short-term vacation rentals are single-family properties or condos that are rented out to visitors on a limited time frame and are an incredibly important part of the local tourism industry in the Coachella Valley.
Why Tourism in the Coachella Valley is Booming
Southern California has long been a highly-desired destination, especially for tourists. The climate alone draws throngs of visitors, as well as easy access to mountains, ocean, desert, and everything in between. Aside from the geographical reasons to visit, the Coachella valley boasts activities for all people of all backgrounds and lifestyles, such as music festivals, beautiful hiking trails, and the world-famous Living Desert Zoo and Gardens. For vacationers who want a relaxing place to escape and do a little R&R, the Coachella Valley offers renowned spas, resorts, and golf courses.
While the Coachella Valley has always been a tourist destination, 2022 saw a resurgence in tourism that surpassed pre-covid numbers and continues to trend upward.
Benefits of Short-Term Vacation Rentals
In a tourist-centric economy, one of the most important assets is short-term housing. Tourists need somewhere to stay and with only about 17,000 hotel rooms in the entire Coachella Valley, short-term rentals are essential for the tourism industry. But that's not all! They provide many benefits, such as:
Economic Contribution Vacation rentals contribute $657 million to the local economy and generate $126 million in state and local taxes.
Local Economy Stimulation Visitors spend roughly $7.5 billion on local businesses and services, which supports 53,000 jobs in the area.
Comfort and Flexibility Short-term rentals come in lots of shapes and sizes, allowing for a wider demographic to be reached and for tourists to select the best place for their preferences and needs. While a hotel room may not be able to accommodate a family of six in their budget, a short-term rental might. From a tourist perspective, it can also be a huge draw when they can visit a place and get an authentic "local" experience - something not always available in a hotel room.
*Data source: Visit Greater Palm Springs
Economic Impact of Short-Term Rentals on Local Businesses
As mentioned above, the tourism industry greatly stimulates the local economy by providing customers for local businesses. Did you know that vacation rentals help provide even more jobs and boost the local economy even more?
Increased Demand for Local Services Since the rise of short-term rentals, there has come a demand for property management services. This means more local jobs in higher demand, especially for cleaning and maintenance services.
Increased Traffic to Local Businesses When staying in a vacation rental instead of a hotel, visitors are more likely to visit local shops, restaurants, and attractions, which means more money infused into the local economy.
Job Creation With all of the increased foot traffic and general demand, the need for workers goes up. Local shops, restaurants, and service businesses open more opportunities as the demand grows.
The Future of Short-Term Vacation Rentals in the Coachella Valley
It is clear that short-term vacation rentals are here to stay in the Coachella Valley, and it is an industry that will continue to grow. They stimulate the local economy and give a vacation experience in ways that a hotel just can't match.
When planning your next trip to the Coachella Valley, consider a vacation rental (see a list of available short-term rental properties here) to stimulate the local economy and experience the Coachella Valley in a brand new, authentic way!
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