Short for “Short-Term Vacation Rental Platform,” it refers to online marketplaces like Airbnb and VRBO that connect property owners with travelers seeking short-term accommodations.
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Glossary Term: VRBO
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A growing trend in the travel industry where grandparents travel with their grandchildren, often opting for spacious and family-friendly short-term rentals over traditional hotels.
The practice of optimizing pricing and availability to maximize revenue from short-term rental properties.
Insurance or security deposits that protect hosts from potential financial losses due to accidental or intentional damage caused by guests.
The process of verifying the identity and assessing the risk of potential guests before confirming a booking.
Implementing eco-friendly practices in short-term rental operations, such as energy conservation, waste reduction, and responsible sourcing.
The integration of devices and systems that automate and control various aspects of a short-term rental property, enhancing guest experience and convenience.
A popular travel search engine that allows users to compare prices for flights, hotels, and rental cars, including short-term rentals listed on platforms like Airbnb and VRBO.
A software solution that allows hosts to manage listings, bookings, and calendars across multiple short-term rental platforms from a central dashboard.
The interaction between hosts and guests throughout the booking process and during their stay, encompassing inquiries, confirmations, check-in instructions, and support.
A pricing strategy that adjusts rental rates in real-time based on factors like demand, seasonality, and competitor pricing.
Feedback provided by guests after their stay, reflecting their experience and influencing the perception of a short-term rental property.