How to scale a vacation rental management agency from 40 > 140+ properties

Background

What happens when two friends, with deep ties to the real estate industry in Marbella, see local property management agencies continue to use archaic business practices?

For the answer, let’s turn to Nicolas Dalli and Lucas Reek. These friends founded Stayhost in 2017 with the aim of using technology to revitalize vacation rental property management on the Costa del Sol.

Stayhost, currently responsible for a portfolio of 144 properties, was born from Nicolas’s experience overseas. Nicolas had spent some time studying in Boston, giving him unique insights into the industry abroad.

I realized that they were much more advanced in the United States than here [in Spain]. The vacation rental industry was much more professional.”

Lucas, whose family has more than 30 years of experience in interior design, was the missing piece of the puzzle. Thanks to Nicolas and Lucas’s combined experience, Stayhost can be proud to offer its clients comprehensive property management services.

Challenge

Nicolas Dalli and Lucas Reek started using Lodgify in 2019, when their portfolio had around 40 properties. They knew they needed to improve their operations if they wanted to scale their business.

At that time we were still using a combination of Google Sheets and Zapier to automate certain tasks, but it became obvious that we were falling short.”

The main problem was that they could not automate guest communications or rate management–two tasks that are essential when you have 40 rentals on your hands and a plan to grow.

What’s more, Lucas and Nicolas wanted to make the leap to dynamic pricing, something that definitely wasn’t going to be possible using spreadsheets.

So, the two friends set out to investigate and, after checking many reviews online, agreed to place their trust in Lodgify’s short-term rental management software.

Solution

Stayhost’s choice of vacation rental software paid off almost immediately: In August of 2019, the company was able to celebrate hosting its thousandth guest!

Why Lodgify?

Lucas and Nicolas didn’t need to create a website, but they did want to be able to accept payments and direct bookings through their existing site. Our booking widget for WordPress was just what they needed: a straightforward yet sophisticated solution to help boost their online presence.

I have a little experience with computers, but implementing Lodgify’s widget is actually within just about anyone’s reach.”

Another essential was that the software be easy to use—not so much for them, but for the property owners they work with. Even if the property owners left most of the work to Lucas and Nicolas, they needed to be able to access the platform without help, which Lodgify allows.

The owner management system was something we absolutely had to have.”

Results

Nicolas tells us that Stayhost has grown at an average annual rate of 50% since they began with 10 properties in 2017. The agency remained strong even during the pandemic and its unfavorable economic conditions.

More specifically, Stayhost has more than tripled the size of its portfolio since starting to use Lodgify, growing from 40 properties in 2019 to 144 in 2024.

I think it’s clear that without a tool like Lodgify, we would not be able to manage a portfolio like this.”

How many direct bookings do they get?

“We get 21% of our reservations through our website,” Nicolas tells us, “most of which are repeat stays.”

Although the majority (85%) of Stayhost’s portfolio consists of apartments, the rest is devoted to luxury chalets and villas. Nicolas also shares that:

The nicer the property, the more direct bookings it gets.”

Considering that third-party booking platforms take a percentage of each reservation, that’s definitely in Nicolas and Lucas’s best interest!

Need help managing your vacation rental? Try Lodgify for free for seven days!