We created the Today in Vacay series to keep readers up-to-date on the rapidly changing trends and updates impacting the vacation rental management space.
We’d all like to peer into the future to see what’s next on the horizon for our industry. We could go to a gypsy to get a palm reading, or maybe pull out the Ouija Board. Shy of that, the best thing to do is go to the experts and get their seasoned, reasoned opinions. So, here’s the latest from around the industry. May it bring us all excellent luck and continued success!
The hotelification of vacation rental management
A website called “The Future of Everything” recently published an article that should have something for everyone. It includes the top predictions from some of the top people in our industry. What does the future hold? Well, according to at least two of the experts, the vacation rental industry will look more and more like the hotel industry as hotel players continue to enter our market in unique, branded ways. That means that the most successful vacation rental property companies, big and small, will have recognizable brands with consistently excellent service. How can you develop your company brand and position yourself for future wins? Kigo vacation rental websites can make your brand shine and stand out from the others, consistently bringing in bookings and guests.
It’s how you use your tech that counts
At the end of August, 200 tech professionals in the VRM industry came together to discuss the future of “tech-enabled” businesses. They agreed that the technology needed to modernize business had indeed arrived. The big issue was, “What do you do with it?” For many vacation rental management companies, new technology just means digitizing their records and processes. That’s not going to be the winning strategy in years to come. Your business needs a clear understanding of how technology can serve your dreams, goals and day-to-day operations. Otherwise, the technology runs your business, and not the other way around. The article from VRMintel is a great read. While you’re pondering the role of technology in your company, consider the techspertise you’ll get from the experts at Kigo. We’re all about the application of technology to meet your needs today and tomorrow.
Using data to make your next investment decision
You love where you properties are located. But when you’re thinking of buying new properties, do you only look in the same areas? There are markets out there poised for growth, and one of them might be just right for your next move. So, which ones? The answer might be from a data-driven analysis of the best cities to buy vacation rental properties, courtesy of the enterprising thinkers at AirDNA. They collect and analyze the data for every rental property listed on Airbnb worldwide, then turn it into forecasts and recommendations. It’s worth a look. Who knows, you might be putting a pin on the map to mark your next properties!
Stay tuned for more vacation rental news updates from Today in Vacay!