As the year comes to an end, we’re looking forward to 2015 with predictions of the Top Ten things that we think are going to change for vacation rentals in 2015.
The key points from 2014, going into 2015 for vacation rentals are:
- More Growth Is Yet To Come – 2014 was another record year for the vacation rental industry and we think even more is set to come next year. With more than $85 billion of transactions being processed this year alone, 2015 is going to be the best time to take your business to the next level.
- Big Brands Will Emerge – As the industry grows, big brands as well as famous portals are going to materialise. One or two brands are likely to start standing out as global by-words for vacation rentals. They will the largest companies that innovate and provide the best, most consistent service to their guests.
- Hotel Brands Will Start Offering Vacation Rentals – An industry this big cannot be ignored and hotel brands are keen to become involved. Offering the same space, privacy and facilities under the umbrella of their recognisable brand name will be a great way for big name brands to enter the market.
- Personalisation Using Smart Phones and Online Data – Using technology to learn and store information using apps and social media will become more prevalent. Owners will be able to learn every guests’ preference and tailor the experience to match every time. Guests will be able to choose every variable for staying in vacation rentals.
- Addition of Services to Existing Vacation Rentals – And just as hotels wish to compete with the space and price of vacation rentals, many businesses are looking to add hotel style services and products to their sites. Concierge services, receptions and delivery services will become part of this.
- Smartphone and Tablet Booking Will Rise – Handheld convenience seems to be an unstoppable force. Mobiles and tablets already account for more than 50% of travel bookings so having an optimised site is going to be essential next year.
- Regulation Will Become Standardised and Regulated – Cities and states are slowly imposing regulations. A city here, a state there. Standards are slowly being established. This is good news for well run businesses, the public are soon going to be assured a certain standard across all vacation rentals.
- Social Media Will Remain Important For Advertising and Customer Interaction -Facebook and Twitter are still web giants and still a force for advertising. Having well maintained profiles is still a great force for interacting and reaching customers, new and existing.
- The Expectations For Listing Quality and Images Will Rise – Studies have shown that listings with more than 2000 words, and more than 20 pictures get the most bookings. Full, detailed listings and high resolution pictures, if not video, will be expected for all listings.
- Hotels Will Fight Back – Not just by competing in the field but pushing for regulation and control of vacation rentals in an attempt to stifle their growth. As a powerful civic and tax force in cities they will attempt to lobby to put vacation rentals under the same level of safety and quality regulations that they face.
These are just 10 of the things we think are set to change or grow in 2015. What do you think we should add, and which is most important for your business?