The North American RV rental fleet will expand again in 2018, according to a new survey by the RV Rental Association (RVRA). A total of 43 percent of RV dealers and rental agencies surveyed said they planned to expand their fleets, while only 11 percent said they will reduce their rental offerings. Another 44 percent said their rental fleets will be the same size in 2018 as they were in 2017, and three percent said they will either expand their fleets or keep them the same size.
“This segment of the market continues to be a winner for the RV industry,” said Scott Krenek, RVRA Chairman and owner of Krenek RV Super Center in Coloma, MI. “The RV rental market is healthy and growing.
Revenue Fuels Growth
Fueling the growth in RV rental fleets was a rise in rental revenue last year. Nearly three-fourths of those responding to the survey (72 percent) said their rental revenue was higher in 2017 than it was in 2016, with 18 percent saying it was up more than 50 percent. Another 47 percent said their rental revenue increased between six and 30 percent in 2017, when compared with 2016.
For the 2018 rental season, 60 percent of the operators completing the survey are expecting higher revenue again this year, while another 21 percent said their rental revenue will be the same as last year.
Larger RVs — as measured by the number of sleeping areas — are the most popular rental units, according to survey respondents. Forty (40) percent of dealers said units with at least four sleeping areas are the most popular, while 27 percent said at least six sleeping areas was the most popular floor plan. Another 24 percent said at least two sleeping areas was the most popular.
SOURCE: News release from RVRA.