Why vacation rentals are growing in popularity in the US




, Last Updated: 11:08 AM ET

Vacation rentals are becoming increasingly popular as an alternative to traditional hotels, with the latest survey out of TripAdvisor showing that more than half of travellers intend to book a private home in 2014.

After polling about 1,100 respondents in the US, the world's largest travel site found that 52% of travellers said they plan on booking a vacation rental this year -- that's up 8% from last year.

More living space, lower rates and better amenities were cited as the top three reasons for renting private homes over a hotel. Not surprisingly, rental homes were most popular among families and large groups travelling together.

"Travellers love vacation rentals for the at-home experience and amenities that make them ideal for family and group trips, not to mention the potential savings when compared to hotels," said TripAdvisor spokeswoman Brooke Ferencsik.

According to the respondents in the survey, 45% of travellers planned to spend between $100 and $200 a night on their vacation rental, while 22% ticked off the $200-to-$300 price bracket.

For those travelling outside the US, the most popular destinations for booking a short-term rental are Europe (53%), followed by the Caribbean (30%) and Mexico (13%).

The most popular settings, meanwhile, include beach or ocean-front properties (65%), followed by city breaks and mountains.

And while wifi, washers and dryers and private pools were among the most popular amenities for vacation rental guests, the most sought-after 'luxury' amenities include a room with a view and a private beach.

Following the success of sites like Airbnb, Flipkey and VRBO, TripAdvisor added a vacation rental category, while Expedia.com struck a partnership with HomeAway.com and expects to launch private vacation rental listings this year.