The vacation rental market has made a few twists and turns along its journey over the last two decades. The industry has grown exponentially, with independent hosts, small property management companies, large property management agencies, vendors, and service providers all carving out a defined role within the ecosystem. This blog post will compare how physical space, guest expectations, marketing, amenities, and property care programs have evolved over the past twenty years. What was once a second-home-side-gig has evolved into a booming segment that dominates the travel space.
The key to optimizing a vacation rental property’s performance? It’s all about understanding the Big Three: Occupancy, Average Daily Rate, and Revenue Per Available Rental Night.
Identifying trends in these three key performance indicators – and their relationship to each other – can help you maximize revenue throughout the year.
In Part I of this series we looked at detailed ways you can enhance your vacation or short-term rental properties to appeal to guests year-round.
In today’s highly competitive online marketing environment for any type of travel accommodations, and especially in our area of the Cape Fear with more traditional vacation rentals, it’s exactly the details and extras that turn an okay rental performer into an all-star with solid, repeatable business in all seasons.
While things like flexible booking options, special seasonal offers, and a fully stocked and well thought out kitchen can get you consistent 4 and 5 star reviews, consider the new “must haves” and even the “great to haves” as you plan out your amenity list and offerings that can truly put your property at the top of any list.
If you have a home at the beach, it’s usually pretty easy to attract guests to your property during the summer months, but are you maximizing your home’s potential for guests year-round?
It’s been shown that when times are volatile, and investors feel uneasy about the current and near-term future stability of a market, they flock to safer investments. Gold, silver, cash, and Bitcoin have been beneficiaries of these volatile markets, but the big winner, especially in our region of the country has been real estate.
Surf City, North Carolina – Carolina Retreats, a specialty lodging and vacation rental management company based in Surf City, North Carolina, has announced the recent purchase of The Tranquil House Inn, a boutique 25-room inn and event space located in historic downtown Manteo on the famed Outer Banks of North Carolina. The inn will become part of Carolina Retreats’ family of brands, which also include Carolina Retreats Vacation Rentals, Topsail Realty Vacations, the Loggerhead Inn on Topsail Island, and The Beach House @ Oak Island, a 22 unit ocean view vacation rental motel property on Oak Island, NC.
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