VISTA VOGUE
Kyle Munzert
Dear Kyle,
As we move further into summer, I want to share some key insights from July and exciting updates regarding our distribution and guest services.
Evolving Booking Trends
July continued to see booking windows shrink. 65% of our bookings were less than 5 days out and 34% of our bookings were 6-14 days out. We expect some of this is because travelers know they can get the best deals at the last minute and also partially due to people not booking trips when there was more economic fear earlier in the year but ultimately taking them anyway. While these last minute bookings can cause logistical challenges for our team we are the only company that allows same day bookings as late as we do. We are grateful that this extra effort has resulted in increased revenue for all of our partners.
Important Policy Changes from Airbnb
Airbnb is rolling out a "book now, pay later" option, which will also impact cancellation policies across the board. Moving forward, all Airbnb bookings will have a 72-hour cancellation window. While this offers flexibility for guests, it could introduce additional cancellation risk, particularly for aspirational trips booked during high season. To mitigate this, we're actively expanding our distribution channels to ensure your properties reach a wider audience.
Expanding Our Reach: New Distribution Channels
We're thrilled to announce that guests can now use Bonvoy or Capital One points to book stays at Elysian properties! This significantly broadens our appeal to a vast network of travelers. Additionally, a select number of our properties are now live and bookable directly on the Winter Park Resort website, providing another valuable avenue for bookings
Unreasonable Hospitality in Action
Our commitment to "Unreasonable Hospitality" continues to set us apart. A prime example occurred on the 4th of July when a guest experienced a flat tire over Berthoud Pass. I personally dropped everything to pick them up, drove them back to the home they rented and helped them arrange local roadside assistance. This is just one instance of how our dedicated team routinely goes above and beyond to ensure our guests have a seamless and positive experience, no matter the challenge
Strong Performance in Future Bookings
Looking ahead, we're proud to report that we're outpacing future bookings for the upcoming high season. Our strong performance is evident in our average daily rate (ADR) of $1369, significantly higher than the market average of $891. We've also received a number of bookings averaging over $2,000 per night. Furthermore, our 10% occupancy rate for the high season surpasses the market's 8%. This continued strong performance is a testament to our collective efforts and the quality of your properties
We're constantly working to optimize your property's performance and enhance the guest experience. As always, thank you for your continued partnership.
Sincerely,
Paul & The Elysian Team
Listing Performance
Please note we implemented new tracking software on 7/23.
How to Read Reports:
1st-page impressions: Search impressions are the number of distinct people who saw your listings on the first page of search results
Clickthrough: A click-through” happens when a user goes from seeing the listing on the search results page and then clicks to go to your listing.
Conversion Rate: conversion rate is the average daily number of distinct visitors who viewed your listing in search and then booked.
Listing Views: Number of visitors to your listing page.
Wishlist: Wishlist additions is the average number of times your listings are added to guest wishlists.
Green Upward Arrows: Areas where the listing is overperforming.
Red Downward Arrows: Areas where the listing is underperforming and improvement is needed.
We use this information to identify the stages where optimization for your property is needed.
