Vacation Rental Pie. How Big A Piece Do You Want?
We all know the big players in the vacation rental market. Airbnb, VRBO, Booking.com, and FlipKey. What about local management companies in areas such as Mammoth Lakes. How much direct traffic does NomadnessRentals drive to rental properties in Mammoth Lakes compared to the global OTA’s like HomeAway, Airbnb, Booking.com, Expedia, and VRBO?
Let’s start with how each of the global OTA’s compare to each other in performance for North America. The chart below identifies as HomeAway having the lions share of booking compared to the other online travel agencies. This chart does not include destination-specific management companies.
These same global OT’A’s booking performance for destination specific property managers with upto 250 properties. Now there appears to emerge 3 OTA’s that are neck in neck to deliver bookings ( HomeAway 26.3%, Airbnb 23.7% and Booking.com 22.7%)
This chart includes booking from OTA’s and destination specific management companies and the contribution of booking by each. Clearly, DSMC’s (destination-specific management companies) deliver more direct booking than any one of the OTA’s included in this information.
Specifically, how does NomadnessRental compare to the global OTA’s when it comes to direct booking? NomadnessRentals dominates direct booking reservations (33.62%) compared to the next closest competitor which is HomeAway (29.92%).
What does all this mean if you are a property owner? It means that your property should be presented by a destination specific management company such as NomadnessRental’s that has a strong internet presence, social media, and excellent reviews. Destination-specific management companies (DSMC’s) such as NomadnessRentals will drive the majority of your reservations for your property. However, it is also clear that the OTA’s present your property to the global platform and drive the remainder of bookings for your property. The combination of NomadnessRentals and the OTA’s will represent 77.78% of the majority of bookings for your vacation rental.
NomadnessRentals has a direct integration with OTA’s through the use of NomadRez Software. Linking all these platforms together to create a seamless, automated and real-time reservation platform that is easy, transparent and accountable. NomadRez Software uses the state of the art programming and marketing to drive reservations and revenue for property owners with the least expense.
Interested in knowing more about NomadnessRentals? Click here to read about our management program options or call 888- 472-5777