Posts Tagged ‘vacation property management’

Eastern VRMA Update #1

Tuesday, March 31st, 2009
Vacation Rental Managers Association

Vacation Rental Managers Association

First I want to say to everyone, flying is pretty good. As much as everyone complains (which by the way is not a good way to promote vacations), I had 3 flight to make it from Boise to Charlotte and all flights were on time. The only hiccup was the Delta employee who suggested that I should pay $175 for my over-sized suitcases. Really? I don’t think so. He caved like bad souffle.

The show. It was an active evening reception in the vendor showcase. More traffic than expected and more positive conversations than folk complaining about the economy. I have found a positive effect of the economy on many vacation managers. It has forced the issue of improving their operations and their marketing/selling.

We will come out of this recession stronger and in a better position to fight for market-share from the hotels. The activities I see vacation managers making to enhance their websites, their online marketing, the analysis of their prospects & guests, and the improvements in their operations are all very positive.

Overall the mood is very positive and anticipating a great recovery for our industry.

More to come tomorrow after some of the sessions.

LiveRez

VRMA (Vacation Rental Managers Assoc.) & Discover Vacation Homes to Promote Vacation Homes

Friday, March 20th, 2009

I am excited.  Very excited.  VRMA, the Vacation Rental Manager’s Association, is reinventing itself and bringing together our industry like never before.  VRMA has launched a new website at www.vrma.com – check it out.  It is a great source of info about the industry.

VRMA has also launched Discover Vacation Homes as a national public awareness initiative for our industry and to make vacation homes a primary vacation option for travelers. 

Be a part of it!  Vacation Managers have the opportunity to become a part of VRMA – check it our at www.vrma.com.  In addition, Discover Vacation Homes offers vacation managers a position at the leading edge of marketing and positioning the vacation home rental industry.  Don’t sit on the sideline, be a part of the goings on. Check it out:


WATCH Video For More Details
Create more business for YOUR company, YOUR owners, and YOUR destination.  Don’t miss out on the many benefits of this national campaign!

 

 

      Join the Cause!


LiveRez.com

As a Guest, Some Advice I Have to Vacation Resort

Monday, March 2nd, 2009

Last weekend I had the wonderful opportunity to take my wife and kids to LA for a little beach and Disneyland.  With shame, I have to admit that we stayed at a Timeshare Resort.  Many years ago I bought an Annual Timeshare at the Maui Marriott.  So this year we traded the Maui Vacation Club for a week in LA.  Something we learned is that just as some vacation rentals are great and others are not, some timeshares are great and some not.

Even though this LA timeshare was far (like vintage 1984 for the LA Olympics) below the standard of the Marriott Maui, it did not have to be as much of a disappointment as it was.  I spent some time with the general manager of the resort discussing what I thought he could do to improve the experience.  Here is part of our conversation:

Set expectations – be very clear about what it is, and what it is not.  Trying to make it sound and look more than it is will only lead to disappointment.  This is especially true about the information provided after the booking is made.  I understand that a certain amount of ‘marketing/positioning’ needs to happen to get the booking.  But once the booking is made, start setting the expectations and preparing guest for exactly what they will find.  (’a retaining wall 4 feet from your balcony and bedroom window, but you only have to cross the street and you are on the beach, so enjoy the beach live, not through the window’)

Little things – budgets are tight, you cannot replace the carpet in every room every year (although 2 decades next to beach is probably the limit).  Update some pictures, some decorations, the plates/silverware, the outlets that wiggle in the wall and do not hold plugs in them b/c they are so worn, maybe a shower-head, ………you get the idea.  Details make the experience.

Preparedness – we had a planned outage as a transformer was replaced in front of the resort one morning.  Unfortunately the resort staff did not alert any guests about this and most of the emergency lighting and the flashlights (which are ‘plugged’ into the wiggly outlets) did not work.  I understand you cannot control the utility, but you can control your response.  Their response showed me very little respect for myself and other guests.

Welcome Gift – again it is the little things, but this just shows that “we are happy you are here, we are here to serve you, we are here to make your stay great, we appreciate you choosing us over all your other options”.  This can be something inexpensive & small, but it should be thoughtful.  It can make all the difference in creating a collaborative feeling between guests and the host.

We had a great stay.  The pool was awesome, the location next to beach perfect, and the distance to town convenient.  Unfortunately this was overshadowed by some shortcomings, that if addressed proactively would have been overlooked.

Week-to-Week Vacation Home Rental Only? More power to you if you can pull that off.

Tuesday, February 10th, 2009

Recently I had a conversation with a vacation manager about her strategy of week-to-week rentals.  We agreed that although that was a good strategy in the past, it might not be what she wants to do for 2009.  As a matter of fact, she already changed her business model to adapt to the changing traveler booking habits.

Here are some noteworthy stats – based on 2007/2008 bookings:

  • For 1 Week 25% 
  • For 6 days 20%
  • For 3/4/5 days 15%

My expectation, and what i am observing across our many vacation managers is that the % of 7 day rentals is decreasing and travelers are looking for more flexibility.  While not being able to afford the full 1 week vacation, they do not want to forgo the vacation completely and a few days is much better than no vacation home at all.

So my advice is, put the old ‘week-to-week’ rental only strategy on the shelf while the economy and travelers are in recovery mode.

Ralf
www.LiveRez.com

Fly-to or Drive-to….Be In-Tune with the Vacation Homes Rental Traveler

Thursday, January 8th, 2009

A trend that I have seen in recent weeks is that travelers are picking locations that are closer to home.  For example, although Big Bear ski area is not seeing as many out-of-state skiers at this time, they are seeing an increased number of skiers from the local southern California market.

I suggest that you pay closer attention than ever before to where your website visitors and your guests are coming from.  There may be a shift occuring in the markets where your guests are coming from.  Which translates into a shift into your marketign efforts, resources, and funding.  Missing this shift can cost you.

Now, if you are a fly-to destination, do not think you are (1) immune to this trend, or (2) just taking it in the shorts.  You also have options.  This trend will affect you, the fly-in guests will choose drive-to destinations.  So think about new target markets, new promotions, or new types of guests.  In the gas price crisis of the summer, drive-to destinations were offering ‘gas credits’.  Maybe you can offer help with the travel expense to fly-in customers?  One of our LiveRez vacation managers in Mexico has record bookings so far this season.

The point is  no matter which one you are, fly-to or drive-to, you must be in tune with your market more than ever.

All the best.

Ralf
www.LiveRez.com

Know the Travelers to Your Vacation Rental Destination

Friday, December 19th, 2008

How much do you know about the visitors to your destination?  Not just your guests, but the general travelers to your destination area.  This information should play a vital part in your marketing efforts as it will tell you about your target market and what you should emphasize. Here is some information that I had the opportunity to review with a vacation manager from Florida.  These are 2007 numbers for Central Florida and Kissimmee. Among overnight visitors to Kissimmee (defined as Osceola County) in 2007:61% had been to Central Florida before
57% had been to Kissimmee before  Among those who had been to Central Florida before, this is the breakdown on number of past visits toKissimmee:
1 Visit              24%
2-3 Visits          23%
4-6 Visits          16%
7+ Visits           30%Â
For an additional 7%, it was the first time to Kissimmee, even though they had been to Central Florida before. Among those who had been to Central Florida before, the time since last visit was:
Less than 6 months     Â
14%7 months to 1 year      Â
10%1-2 years                     Â
18%2-3 years                     Â
21%3-5 years                     Â
19%6-10 years                   Â
7%More than 10 years         So why is this so interesting?  It tells you some important information about the frequency of repeat visitors to Kissimmee.  It tells you in what time increments they are likely to return.  The better you can understand your target market, the better you will be able to tailor your marketing campaigns, message, and special offers. I encourage you to work with your local organizations to track and document such important information to everyone whose business relies on travelers to your destination.

More Investment $$ Flowing into the Vacation Industry

Thursday, December 18th, 2008

I am a big fan of positive news.  I am a glass half-full kind of guy.  I thrive on positive energy.  So here is some more positive news to all you out there in the vacation rental industry who are also thirsting for positive news in what has become a competition on who can be the darkest doomsday newscaster.

SellMyTimeshareNOW.com has raised $8.5M in venture capital funds.

Why am I so excited about this?  Because there are some pretty smart people at Edison Capaital and they see the vacation industry as a place to make some bets.  (Edison’s successes include Best Software, Dendrite, E-Transport, Gain Capital, Liberty Tax, VirtualEdge, Visual Networks, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion.)

Staying Positive in a cold Boise!

Ralf
www.LiveRez.com

Some Stats on Online Travel and Online Vacation Home Rental

Wednesday, December 17th, 2008

All I hear about is what a bummer the economy is.  Enough already.  All our futures are at stake here.  Yes?  Well, I suggest we all focus on what we can do tomorrow when we get up in the morning and make it a better day, a better economy, and a better country.

Do not misinterpret me for someone who does not care.  Quite the contrary, I care a lot.  That is why I want us to focus on the positive.  So I looked at some online stats at www.compete.com. 

What does this tell us?  Traffic has dropped off significantly, but that is an annual cycle.  Look at the year-to-year, it is down but not massively.  Among these three travel sites there were almost 30million people in Nov that were shopping for travel.  30 million is about 4X the population of my native Austria.

Now below is the traffic for VRBO and Homeaway.  Again look not only at the seasonal trend, look at the year-to-year traffic.  It is actually up for both these site. 

So before you stick another pin into that Ben Bernacki voodoo doll, take a closer look at the stats and think about what you can affect, what you can change, how you can drive your business further.

Full of hope.

Ralf
www.LiveRez.com

Use Survey’s to help your Online Vacation Rental Presence

Monday, December 15th, 2008

Ever watch Family Feud?  Survey says, “………….”  People, in general, like to know what others are thinking, doing, or have an opinion on.  That is where collecting survey information can help you attract more travelers to your site – create some material that is interesting to them, news that they want to read……Top 10 List, Why Travelers……great hooks to get people to your site and fantastic SEO content.

That is one part of the equation.  The other part of the equation is that you can learn tremendous information by analyzing the responses you collect from guests, prospective guests, and ‘just looking’ browsers.

One part I like about surveys is that there are some great tools out there that you can use on your website and through email marketing.  I have recommended Zoomerang and Survey Monkey before.  Today I ran across a new one Surveygizmo. 

Surveygizmo allows you to engage visitors and find out how they feel about your site experience by asking them directly. SurveyGizmo does just that. You can structure your surveys in many ways, including polls, quizzes, landing pages and even mobile marketing campaigns. Extensive analytics and reporting features are included.

A basic account was available at no cost. This is an actual working account (not just a test account) that allows you to gather 250 responses per month on an ongoing basis. Pricing for larger surveys is available at the site.

Another tool and strategy to look into to enhance your vacation rental business.  It is FREE and can provide you excellent data, as well as new guests.

Ralf
LiveRez

Social Media/Network is Popular with Online Shoppers (& Vacation Rental Bookers)

Wednesday, December 10th, 2008

I thought maybe it was just my wife and kids (I have been watching then get more active on www.Facebook.com and my wife has developed quite a following on her blog www.wenderful.com), but I have come to realize that we seem to be at an inflection point in the utilization of online social networking.  Here is the most scientific  evidence I have for this – my mother-in-law has a Facebook profile.  Now it is mainstream for sure!!

 

If that is not scientific enough for you, here is some more data from a recent study by Universal McCann International Social Media Research.  Check out this study for some amazing detail and info.

  • Watched a video  82.9%

  • Read a blog 72.8%

  • Visit a photo sharing site  63.2%

  • Manage a profile on a social network  57.3%

  • Leave a comment on a blog  54.8%

  • Leave a comment on a news site  44.8%

  • Subscribe to an RSS feed  33.7%

What this means to you?  Here is my opinion. 

  • First, you get familiar with these sites, tools, networks.  Understand them, do not rely on anyone else to define them for you.  If you do not consider yourself technical, do not let than be a roadblock, the point of these social sites and networks is that they are for humans – not techie guys. 

  • Second, match your target audience and target message to the appropriate online social channel.

Hope this helps in your vacation home rentals.

 

Ralf

www.LiveRez.com