HSMAI Rising Leaders Council Insight: 5 Things We’ve Learned from the Short-Term Vacation Rental Market

Natalie Fournier, CHDM, CRME, CRME, CHDM, Director of Revenue, Thompson San Antonio, HSMAI Rising Revenue Optimization Leader Council 

The vacation rental market has continued to grow in key markets over the past couple of years. STRs sometimes offer more space, more privacy, and more amenities than a hotel room. Additionally, vacation rentals are often located in more desirable locations than hotels, such as near the beach or in the mountains. What can hoteliers learn from this segment to capitalize on these guests in the future? The HSMAI Rising Revenue Optimization Leader Council met to discuss what we have learned from this expanding market.  

The vacation rental market offers a unique opportunity for hoteliers to capitalize on the growing trend of short-term rentals. Here are five key lessons learned from the vacation rental market: 

  1. Be flexible with booking and cancellation policies.
  2. Offer a variety of amenities and services to appeal to a wide range of guests.
  3. Be transparent with pricing to avoid any surprises.
  4. Offer a seamless and easy-to-use booking experience.
  5. Provide a high level of customer service to ensure a positive rental experience.
Categories: Revenue Management
Insight Type: Articles