Domestic Recreational Vehicle Rentals Compensating for Drop in Overseas Visitors

The RV market in the US looks like it may have found a new client base during the pandemic. As reported by the New York Times, companies like Cruise America, the largest RV rental company in the US, typically count on overseas visitors for about 40% of their bookings. The majority of these visitors usually come from Europe and with borders closing, rentals fell steeply. Foot traffic to rental locations was down over 40% in April compared to the previous year.

RVs in US - Traffic and Percentage Change YoY

With US residents now facing a summer of travel restrictions, the RV sector is seeing a rebound. In June foot traffic to locations renting RVs was only 13% lower than last year, and climbing - a good proxy for overall rentals. The majority of this recovery has almost certainly been due to increased interest from Americans, looking to make the most of their staycations and explore their country in a socially distant and safe manner.

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About Advan

Advan is the leader in the financial and real estate industries, enabling participants to analyze foot traffic data across multiple sectors, including retail, hospitality, consumer services, energy, technology, healthcare, REITS, financials and others. Advan derives its datasets using multi parameter models that analyze cellphone location data crossed with curated geofenced areas.

Top tier institutional investors spanning from quantitative hedge funds to fundamental asset managers have been the main consumers of Advan’s products.