It’s not just the weather that’s heating up! The race is on, and leading software solutions and travel platforms are pulling out all the stops to stay ahead in this dynamic landscape. This month, we’ve seen cutting-edge tools, brand-new features, and innovative platforms all vying for attention to offer an unparalleled experience to property managers, hosts, and guests alike.
Let’s check out what’s hot off the press this July so you can stay in the loop—and ahead of the competition!
Airbnb have shone a spotlight on their most hospitable hosts who go above and beyond throughout the United States. They’ve unveiled an intriguing interactive map that celebrates the epitome of hospitality in each state.
They established certain criteria to discover the most welcoming hosts in the United States for 2023. The chosen hosts had to exhibit exceptional performance, earning 100% five-star ratings in the key categories of Cleanliness, Check-in, and Communication. To ensure an even higher standard, they required a minimum of 100 reviews for each host.
What can I do to become ‘more hospitable’?
Interestingly, 80% of these hosts can be found in rural regions, while 70% reside onsite. This could be an indication that hosts have a greater chance of receiving five-star reviews if the rental is based away from big cities. Additionally, it could imply that guests appreciate the faster response times to communication and on-site issues provided by hosts who live on the property.
If you’re an on-site, rural host, emphasize the positives of the situation in your listing, assuring potential guests of peaceful privacy, but that you’re always on hand if necessary. If you’re rental is in an urban area, focus on streamlining your check-in and communications, and make sure cleanliness is a high priority.
Unveiling Skift’s highly anticipated State of Travel 2023 report
Can’t get enough of industry reports? Well, here’s another to add to your collection! Skift’s State of Travel 2023 report is an all-encompassing analysis that delves into the ever-evolving landscape of the travel industry. With over 250 insightful revelations, it paints a vivid picture of the present and forecasts the trends that will shape the future of travel.
Skift have crunched the numbers to reveal the short-term rental market has increased its share to an estimated $67 billion in the United States alone. That’s a massive 18.6% slice of the global vacation rental market. Curiously, they also reveal that traditional hotels generally perform better in terms of customer service when compared to vacation rentals.
How should I react to this data?
Well, much like Lodgify’s summer industry report, Skift’s data shows the supply of short-term rentals is out-growing the level of demand, despite the overall increase in market share. Therefore, to help your property maintain a high occupancy rate, try to think outside the box when it comes to your business strategy and marketing.
Remember, your vacation rental isn’t just another accommodation option; it’s a unique opportunity for your guests to make wonderful memories. Craft a personalized experience for each guest, ensuring that it’s tailor-made for their needs and preferences.
Furthermore, this will make it more likely for you to receive positive reviews, with happy guests being more likely to share their amazing experiences with others through glowing reviews and enthusiastic word-of-mouth. Keep in mind that traditional hotels are well-established when it comes to customer service, so vacation rental hosts may have to get creative to earn the same ratings.
You can read the full report here.
Lodgify earns high praise from Software Advice
In an impressive feat of excellence, Lodgify has once again emerged victorious in the highly competitive industry by receiving not one but two prestigious badges from Software Advice for the year 2023.
The first badge, “Most Recommended,” serves as a resounding testament to the exceptional quality of service and customer satisfaction. This accolade is a reflection of the trust and confidence the vacation rental community places in Lodgify to elevate their businesses to new heights.
As if that wasn’t enough, the second badge, “Best Customer Support,” showcases the company’s commitment to going above and beyond in ensuring our users receive unparalleled assistance. The Lodgify team’s dedication to promptly addressing queries, providing proactive solutions, and delivering a seamless user experience has undoubtedly set a benchmark for exceptional customer service in the industry.
Proposed $250 fee for STRs sparks debate in Phoenix
In a bold move, the city of Phoenix plans to introduce a fee of $250 for short-term rental permits and renewals. But fear not, this isn’t just a simple levy; the authorities see it as an investment in the city’s future.
With the supply of short-term rentals soaring to new heights, the need for effective management and regulation has never been greater. That’s where this fee comes into play. By levying it, the city hopes it will cover essential administrative costs that come with managing and regulating this rapidly expanding industry while ensuring that everyone benefits.
Around 3,600 short-term rentals are currently registered with the city, creating a dynamic hospitality landscape. If the City Council gives the fee the green light, they’re looking at potential revenue of $900,000, which could help the city’s ability to enforce regulations, monitor compliance, and mitigate any issues arising from short-term rentals.
As the trend of short-term rentals skyrockets, vibrant cities like Phoenix find themselves at a crossroads, searching for that elusive sweet spot where economic prosperity and community harmony intertwine.
If these measures are introduced, neighborhoods may be able to breathe easier, knowing that the impact of short-term rentals will be thoughtfully managed and the interests of every stakeholder will be genuinely heard. All eyes turn to the City Council, who hold the key to shaping Phoenix’s short-term rental destiny in the coming months.
You can find the official proposal here.
Beyond launches new tool
Gone are the days of second-guessing your pricing strategies as Lodgify partner Beyond has released its new tool: Market Insights.
Users can now deep-dive into their local market dynamics, unlocking detailed data insights, including ideal booking platforms and the amenities guests crave.
Users can also uncover key metrics like the average length of stay, booking windows, and revenue per available night. With this newfound knowledge, you can strategize like never before, optimizing your offerings and maximizing your earnings.
If you’re a Lodgify customer, check out our integration with Beyond and see how you can take full advantage of their latest upgrade.
AirDNA acquires Arrivalist
Renowned short-term rental data company AirDNA has made a significant move by acquiring Arrivalist, a cutting-edge location intelligence platform. Through this partnership, the dynamic duo promises to enhance data-driven decisions for property managers thanks to their extensive industry knowledge, transforming mere data points into actionable intelligence.
“By welcoming Arrivalist to AirDNA, we’re accelerating our growth trajectory and reinforcing our commitment to delivering industry-leading insights to our customers. The union of our powerful data platforms will provide businesses with unrivaled intelligence, empowering them to strategize with increased precision,” said Demi Horvat, AirDNA’s CEO.
You can read more about the acquisition here.
Until next time!
As the vacation rental industry continues to grow, we’ve discovered the power of unity and collaboration, where a global community of hosts and guests come together to create unforgettable experiences. With each accolade, every piece of expert advice, and every strategic acquisition, we’re witnessing the undeniable evolution of the vacation rental industry.
We’ve seen how passion, dedication, and innovation have paved the way for an unparalleled guest experience, leaving travelers in awe and coming back for more. And in this ever-changing landscape, we’ve learned that knowledge is the ultimate currency, with hosts embracing valuable insights to elevate their businesses.
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