We’re halfway through the year and halfway through the summer, and vacationers are cobbling up rentals like leftover 4th of July cherry pie! Coastal shores are preparing for an influx of beach bodies and wild places are ready for those to #wander. Vacation rentals are finally seeing travelers get to steppin, while embracing new branding ventures and leaning into hotel competition.
1. Good Competition
It could be said that there’s nothing like reputable hotel room service and complimentary breakfast, but vacation rentals are experiencing a major moment right now. VR’s are puffing up their chest against hotel service offerings and it’s working.
Clearly, listing sites like Airbnb and Vrbo dominate the rental space in terms of booking convenience and diverse pricing of their listings. But privately owned, vacation rental companies are capitalizing on their competitive advantage. These include lower rates, closer proximity to surrounding areas so you can “feel like a local”, and more living space and privacy. Smaller scale and big-name hotels are taking notice and are upping research on the competition and what they can do to stay relevant. Whether it be monthly rates, free meals, or offering superior “cleanliness”. Read on here.
2. ” To Boldly Go Where No Man Has Gone Before”
A level of vacation rental growth that has never been reached before! Captain Kirk would be proud. The how? That’s easy, owner acquisition. There’s plenty of demand within the industry, what property managers need are more property owners.
We know that vacationers adore the privacy and independence of vacation rentals, so property managers are eager to meet those expectations. With more travelers turning to this method of stay, a search has been initiated to find reputable property owners to maintain the excellence of these locations. It’s almost a little taste of the gig economy as many property owners can use this type of employment as a side hustle, while still working a full-time job. As businesses all around the country are opening up again, there has been a relatively exponential increase in those looking for places to stay, other than a hotel. Here, is how property managers are working to acquire more owners.
Vacation booking vengeance! People are almost charging to the beaches, to make up for last season’s inflatable backyard pool vacays (thanks again, COVID!). So, watch out summer of 2021, the vacationers are coming.
Between PTO, last year’s begotten vacation experiences, and a strife for more work life balance, 52% of Americans will be traveling this summer.
Not everyone takes their PTO, and according to reports last year, and in 2019, folks regret not giving themselves a break, and 2021 is all about the year of new beginnings. Getting a taste of remote work has certainly sparked a reverence for mental health and an awareness of how easy it is now to take a vacation. While wanting something that they couldn’t have for a year, America is pumped to take on the beach, the mountains, the sparkling cities, anything that reunites them with their wanderlust. You can find out if you’re a beach charging vacationer, here.
4. “Wastin Away Again in Margaritaville”
Jimmy Buffet hyping up the newest project between his vacation rental company, Margaritaville and Karisma Hotels and Resorts, St. Somewhere. Sound familiar? “It’s five o’clock somewhere”, Alan Jackson? Anyways, whatever the nomenclature it’s a boutique
While this location is more of a resort and less of a vacation rental property, we thought it would be worth including since Margaritaville is one of the most happy-go-lucky vacation home rental and vacation clubs there is.
St. Somewhere is set to unveil this fall with plenty of saltshakers, and a hefty dose of top-notch luxury. With an expectation of multiple properties, the first to unveil is on the island of Isla Holbox in the Yucatan Peninsula laden with picturesque views and experiences for the whole family.
The collaboration with Karisma and Margaritaville was not built on a whim, and with each of their respective offerings, they have combined to offer a true sense of exquisiteness with a hint of Buffet’s playful branding. Learn more about St. Somewhere, here.
5. Take it as a compliment
So vacation rentals are realizing their competitive advantage, but they still want to copy hotels? Well, hotels must be flattered.
Maybe not copying hotels completely, but vacation rentals to have their eyes on the secret sauce of cleaning standards and branding techniques.
Since the start of the pandemic, virtually every business has been giving their sanitation protocols a preemptive but also quite needed upgrade. Since hotels are often regarded as those that set a formal standard for the hospitality industry, rental companies are modeling after their precautionary measures so that they too can keep their guests as safe as possible.
As far as branding, major hotels such as Hilton and Marriott, have had a long time to perfect their image. To bolster professionalism and savvy business practices, vacation rental companies are studying up on pricing science via hotels and how hotels market to their consumers. If you want to find out more imitation information, you’ll find it here.
As always, have a great weekend, and check in with us in two weeks for the next installment of hospitality meme news.