Sweeping changes have transformed traditional vacation rentals into one of online travel’s hottest and best-funded segments. A new Phocuswright report, A Market Transformed: Private Accommodation in the U.S., offers a detailed look at how this dynamic segment has evolved and where it’s headed. Amid the rise of HomeAway and Airbnb, rental growth has surged in the past few years. Those gains will slow in 2017 and 2018, when the total private accommodations market will reach US$36.6 billion.