Congratulations are in order to the industry as a whole for a solid summer season. According to an article by RIS Media, the average rental per week rose 19% over the same time last year. In this numbers thick report, the stats are in and it was another banner year! While we are always happy to see your success, we can't help but feel a bit of deja vu. To add some juice, here are a few of our favorite numbers.
"Vacation rental occupancy rates (77%) outpaced hotels (70%) for the summer season" is a personal favorite. The implications here are simply that all of your hard work to create a better experience for the customer is paying off. Not only that, it means you (property managers) have been very successful in effectively managing your clients properties.
"95% of vacation rental owners said they did not lower their rental rates from last year" is a pretty profound stat. At first glance it sounds like a stat for the homeowner but when you take a step back and read into the meaning of it, this stat shows that the professional property managers out there are having success at renting properties out for homeowner asking price. This relates to higher client satisfaction and a smoother overall experience.
"Vacation home buyers are getting younger" means a fresh new client base. With this comes some amazing opportunity for all you professional managers out there. That opportunity is change! With a younger client base coming through, new tools in tech, social media, and marketing will be an absolute must. Consider this your "heads up" to prepare for a new wave of clients with a new mentality.
There is much more in the original article that can be read here but the moral is, if #vacationrentals was on twitter, it would be trending!