Recap: What you missed at the 2017 VRMA National Conference
The VRMA National Conference did a lot of changing this year, and we’re not just talking about the location. From Scottsdale, AZ, to Orlando, FL, there was a 20% growth in attendance at the show, and the energy was strong within the vacation rental community.
In 2017 we saw an upgraded expo hall, and not only more sessions, but content that left the attendees yearning for more! It was certainly an exciting year to be a part of the VRMA National conference.
Below you’ll find TripAdvisor Rentals’ recap on what you missed at this year’s conference and why you should definitely plan to join us when they head to MGM Grand in 2018.
Top Sessions from 2017 VRMA Conference
Preparing for Dynamic Pricing
Seasonal rates are a thing of the past: it’s time to step up your pricing game. As the hotel and vacation rental industries converge under the accommodations umbrella, it’s important for managers to start getting smarter about how they handle pricing on their listings.
Check out these top tips for crushing your dynamic pricing strategy:
Create Urgency – Use variable rates to encourage guests to book… now!
Update Your Site – Take a key component from the hotel/flights industry: rather than displaying static rates, showcase them within your calendars. This will help travelers see where they’re getting the best deal. Not only that: they might even stay longer!
Get Integrated – Gone are the days of manually entering your rates. Work with your channel manager to get real time rates and availability displayed onto your distribution partners.
Convince Your Owners – Get a handful of owners onboard with you owning their pricing structure. Demonstrate a few successes and share this with the rest of your owners – they’ll join the pack once they can see the rewards.
Be the Master of Your Market
As you prepare for the next peak booking season, take a breath and look back at the past year. There is no better place to sit back and reflect than in your own data. Look at the characteristics of your different properties and identify which have booked better in previous years. Use those traits and attributes to inform your owners and improve the quality of your listings.
Eat the proverbial dog food and book one of your own properties on your own site, as well as on one of your distribution partners. After you take a peek under the hood, start scanning around the neighborhood. Look at your competitors and check out not only how but where their properties are located.
The Great Change: How to Leverage Technology
With the incredible advances in technology, people now have the power of connectivity at their fingertips. Cell phones allow people to send instant messages to friends, skip the lines by ordering online, and chatting with family and friends across the globe. These technological developments enhance the growth of other industries, including vacation rentals.
The ever-increasing abilities of cell phones and tablets are enabling owners and managers to take their business on the go, 24/7. Getting in touch with travelers and managing listings has never been easier! Below are some takeaways from VRMA about how to leverage technology to boost your business.
The Vacation Rental Managers Association really stepped it up at the 2017 conference, and the TripAdvisor team was thrilled to be there. Roll on 2018!
If you were at the show and didn’t have time to chat with your account manager, reach out to them at firstname.lastname@example.org
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