BLOG TOPICS
August 13, 2021
Recently, we conducted a survey of the general traveling public as well as managers and owners of vacation rental properties to inform our Trends Report. While you can view the entire report here, these were the 3 things that are top of mind as we move into the second half of the year.
The results from our survey are clear—dynamic pricing has moved from a “nice-to-have” in the short-term rental industry to a “need-to-have.” Dynamic pricing takes the guesswork out of pricing and it’s widely recognized as a core technology for the industry.
For example, 75% of property owners cite dynamic pricing as very important in their decision for selecting who will manage their property.
Dynamic pricing is a key enabler of the short-term rental industry and it’s a critical part of the equation to being successful with a property. Property owners that leverage a management company for their rentals are looking for agencies that know what dynamic pricing is and how to harness it to price their property competitively.
Not pricing a property effectively was in the top three concerns that keep managers and owners up at night (unexpected property issues and damage to the property being the other two).
Additionally, 70% of owners and managers appreciate that dynamic pricing enables them to be in control and equips them with the ability to be proactive, rather than reactive, when they can capture and capitalize on market changes. Furthermore, dynamic pricing helps level the playing field between short-term rentals and hotels—34% of owners and managers citing this as the best result of using it to price property.
While Airbnb is the primary listing website for short-term rentals, with 94% of owners and managers listing on the platform, it isn’t considered the one and only magic bullet for listing and renting out properties.
In fact, 38% use their own website or booking engine, which demonstrates how they’re engaged with their property on pricing, using industry data, and incorporating technology.
Additionally, the 38% of owners and managers who use their own website or booking engine might want more autonomy with their properties, not really caring to share their profits with OTAs or follow their rules.
This increase in self-management of online listings can also be partially attributed to Airbnb’s decision to not hold guests accountable for cancellation fees during the pandemic and subsequent shutdowns of 2020.
That decision resulted in managers and owners bearing the brunt of the revenue losses, a decision that still rankles in the community and resulted in some hosts leaving the platform altogether.
The top four booking websites for listing short-term rentals are Airbnb (94%), Vrbo (62%), Booking.com (28%), and TripAdvisor (20%).
While the vaccine rollout, lifting restrictions and decreasing COVID-19 infection rates have been welcome news for travelers, safety is still top of mind and they are looking for lodging options that reflect it.
As travelers venture out, nearly half of all respondents find short-term rentals to be a safe option for their lodging.
The top 3 factors that will highly influence upcoming travel:
Remaining top of mind for travelers is the possibility of lockdowns returning. 47% of respondents consider this an influencing factor in their next travel opportunity. This helps explain the trends we’ve seen lately that booking lead times remain shorter than historical data.
Mi tincidunt elit, id quisque ligula ac diam, amet. Vel etiam suspendisse morbi eleifend faucibus eget vestibulum felis. Dictum quis montes, sit sit. Tellus aliquam enim urna, etiam. Mauris posuere vulputate arcu amet, vitae nisi, tellus tincidunt. At feugiat sapien varius id.
Eget quis mi enim, leo lacinia pharetra, semper. Eget in volutpat mollis at volutpat lectus velit, sed auctor. Porttitor fames arcu quis fusce augue enim. Quis at habitant diam at. Suscipit tristique risus, at donec. In turpis vel et quam imperdiet. Ipsum molestie aliquet sodales id est ac volutpat.
Elit nisi in eleifend sed nisi. Pulvinar at orci, proin imperdiet commodo consectetur convallis risus. Sed condimentum enim dignissim adipiscing faucibus consequat, urna. Viverra purus et erat auctor aliquam. Risus, volutpat vulputate posuere purus sit congue convallis aliquet. Arcu id augue ut feugiat donec porttitor neque. Mauris, neque ultricies eu vestibulum, bibendum quam lorem id. Dolor lacus, eget nunc lectus in tellus, pharetra, porttitor.
"Ipsum sit mattis nulla quam nulla. Gravida id gravida ac enim mauris id. Non pellentesque congue eget consectetur turpis. Sapien, dictum molestie sem tempor. Diam elit, orci, tincidunt aenean tempus."
Tristique odio senectus nam posuere ornare leo metus, ultricies. Blandit duis ultricies vulputate morbi feugiat cras placerat elit. Aliquam tellus lorem sed ac. Montes, sed mattis pellentesque suscipit accumsan. Cursus viverra aenean magna risus elementum faucibus molestie pellentesque. Arcu ultricies sed mauris vestibulum.
Senectus nam posuere ornare leo metus, ultricies. Blandit duis ultricies vulputate morbi feugiat cras placerat elit. Aliquam tellus lorem sed ac. Montes, sed mattis pellentesque suscipit accumsan. Cursus viverra aenean magna risus elementum faucibus molestie pellentesque. Arcu ultricies sed mauris vestibulum.
Montes, sed mattis pellentesque suscipit accumsan. Cursus viverra aenean magna risus elementum faucibus molestie pellentesque. Arcu ultricies sed mauris vestibulum. Montes, sed mattis pellentesque suscipit accumsan. Cursus viverra aenean magna risus elementum faucibus molestie pellentesque. Arcu ultricies sed mauris vestibulum.
Nunc sed faucibus bibendum feugiat sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
Morbi sed imperdiet in ipsum, adipiscing elit dui lectus. Tellus id scelerisque est ultricies ultricies. Duis est sit sed leo nisl, blandit elit sagittis. Quisque tristique consequat quam sed. Nisl at scelerisque amet nulla purus habitasse.
Nunc sed faucibus bibendum feugiat sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
Morbi sed imperdiet in ipsum, adipiscing elit dui lectus. Tellus id scelerisque est ultricies ultricies. Duis est sit sed leo nisl, blandit elit sagittis. Quisque tristique consequat quam sed. Nisl at scelerisque amet nulla purus habitasse.
Nunc sed faucibus bibendum feugiat sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
Morbi sed imperdiet in ipsum, adipiscing elit dui lectus. Tellus id scelerisque est ultricies ultricies. Duis est sit sed leo nisl, blandit elit sagittis. Quisque tristique consequat quam sed. Nisl at scelerisque amet nulla purus habitasse.
Nunc sed faucibus bibendum feugiat sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
Odio felis sagittis, morbi feugiat tortor vitae feugiat fusce aliquet. Nam elementum urna nisi aliquet erat dolor enim. Ornare id morbi eget ipsum. Aliquam senectus neque ut id eget consectetur dictum. Donec posuere pharetra odio consequat scelerisque et, nunc tortor.
Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
.jpg)
.png)
.png){kind=small}
.png){kind=small}
