Watch this virtual event where Vrbo's Kevin Locraft shares why now is the time to build and expand your vacation rental portfolio.
Webinar: Why now is the time to invest in your vacation rental portfolio
Top 5 Takeaways
- Following the challenges of the last 15 months, it has been great to see how partners have adapted to the new traveler needs we have seen, in order to be ready to make the most of the rebound for the next 15 months, and beyond. The good news is, travel is rebounding! Search activity across our marketplace has changed over time as vaccine programs began to gain steam and global search volumes continued to grow in Q2, increasing more than 70% quarter-over-quarter.
- Vrbo is seeing markets sell out much earlier than usual. Pent-up demand, vaccinations, and the desire to reunite with loved ones have caused families to book earlier than ever.
- Travelers want to envision their stay. From detailed property descriptions and amenity photos to cancellation and cleanliness policies, savvy travelers require all of the necessary information before booking a place to stay. Travelers want very detailed and up-to-date property information. This includes information about your vacation rentals like amenities, accessibility, and parking details, but it doesn’t stop at the boundary of your property. Location is always important to travelers, not just where your property is located though — it’s also what’s nearby.
- 77% of travelers said accommodations must have key technology amenities if they are to book a stay. Investing in technology that facilitates working from home and highlights tech and family-related amenities in your property listing along with proactively communicating with travelers to build trust and make their stay experience as great as possible.
- Pairing technology with powerful insights, Vrbo tools, and other resources can help you confidently make more informed decisions for your business that grow revenue. Leverage tools such as MarketMaker and the fast start program to elevate your portfolio and maximize the success of your business
As i look to some of our strategic destinations or beach destinations into next summer, the advance bookings that are in those destinations are higher now than they have ever been at this point in prior years and we are seeing these destinations fill up faster than ever.
-Kevin Locraft, VP, Partner Success, Expedia Group
