Short-term stays boost sharing economy, finds report

Curiosity and a sense of adventure among wanderlust-bitten Chinese travelers are imparting an exciting touch to the business of holidays, encouraging people to go beyond conventional hotel stays and soak in new experiences through vacation rentals, a report has found.

Released by the State Information Center, the report said China's short-term lodging sector, which includes the segment of homestays, is booming, thanks to its relatively lower costs, conveniences and novel experiences on offer.

Transaction volume of the sector rose 37.5 percent year-on-year to 16.5 billion yuan ($2.4 billion) in 2018, the report stated.