The shift in consumer spending towards experiences and memories rather than material possessions, heavily influencing the short-term rental market.
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Glossary Term: VRBO
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Platforms like Airbnb and VRBO that allow guests to leave public reviews and ratings based on their stay experience.
The fluctuation in demand and pricing for vacation rentals based on time of year, holidays, and local events.
Online marketplaces like Airbnb and VRBO that connect hosts with potential guests seeking short-term accommodations.
Researching and understanding the trends, competition, and pricing within a specific short-term rental market.
Listing a rental property on multiple platforms, such as Airbnb, VRBO, and Booking.com, to broaden reach and potentially increase bookings.
Collaborations between short-term rental hosts and local businesses, such as restaurants, tour operators, and transportation services, to enhance guest experience and generate mutual benefits.
An online marketplace that connects vacation rental property owners or managers with potential guests seeking short-term accommodations.
The proactive upkeep and repair of short-term rental properties, utilizing technology and preventative measures to ensure guest satisfaction and minimize potential issues.
The utilization of digital platforms and tools to facilitate seamless communication with guests, manage inquiries, provide information, and address concerns efficiently.
Specialized software solutions designed to help short-term rental hosts optimize pricing, manage bookings, track expenses, and analyze financial performance.
The proactive monitoring, analysis, and response to guest reviews across various platforms to improve reputation, build trust, and attract future bookings.