Sustainability and Quality
The New Barriers to Entry in Vacation Rental Management
T
he vacation rental (VR) industry is undergoing a renaissance as the COVID-19 pandemic transitions out of its position of global dominance. Our industry has received an enormous amount of press in the past few years—some good and some bad—all of it culminating in increased awareness of what our industry offers. The term “renaissance” is used deliberately here. Some refer to our industry as “new” or “young,” but the reality is that this industry has been well-established for decades in resort communities around the world. Perhaps this perspective of our industry results from the new tools and technology available that have breathed new life into VR companies. The studious application of research and technology to our industry has given rise to possibilities that did not seem likley even 10 years ago, creating a situation reminis76
VRM Intel Magazine | Fall 2021
By Jed Stevens cent of the scientific and creative awakening that we associate with the Renaissance in Europe roughly 500 years ago. Now, as then, the question is this: how will these advances change the landscape, and how will our companies need to adapt to survive and remain relevant? Recall the attention that was brought to the VR industry during the coronavirus pandemic; the new awareness brought new customers who carried their travel dollars with them. As with any boom, it didn’t take long before enterprising individuals showed up to facilitate the spending of those dollars. Now, with this influx of traveler dollars into the vacation rental market, new opportunities are popping up. Industry visionaries have been spotting trends in the changing landscape for several years, including the following:
