Though it can be an extremely complicated arena, the short-term rental industry really boils down to a pair of critical metrics: exposure and revenue.
Property managers can’t simply open their doors and expect bookings to flood their calendars. Rentals need to be listed on travel sites, of course, and those listings need to be tended to carefully. Things get even more complicated when properties are listed across multiple online travel sites, an approach sometimes referred to as “multi-channel distribution.”
Multi-channel distribution is a lot like a juggling act: it can go awry in a multitude of ways, but when it’s executed properly, it’s a dynamic strategy for boosting both exposure and revenue.
The short-term vacation rental industry is vast. That’s good for business, but it also means property managers have to be creative in order to run a profitable rental business—especially considering the sheer number of online channels.
Travel sites such as Vrbo, Airbnb, Expedia, and Booking.com headline the crowded marketplace, and each one has its own collection of offshoots. For example, the Booking.com roster features popular names like Agoda, Priceline, and Kayak.
Property managers who opt-in to single travel sites have an opportunity to book plenty of travelers—no doubt about that. Still, though, what happens if those same PMs branch out and list rentals on multiple different channels?
Data shows that property managers who list vacation rentals on multiple sites (typically, four or more) can increase revenue by 50% or more. So it isn’t a very perplexing formula: maximizing exposure is the key to maximizing rental income and getting more bookings.
Any property manager who has listed their rentals on multiple travel sites can attest: it’s a strategy that demands time, attention, and industry knowledge. Here are just a few details that need to be considered with multi-channel distribution:
Listing properties on a single travel site can be a headache; listing properties on multiple sites is basically a full-time job.
That’s why many property managers choose to partner with a full-service distribution company: it not only smoothes out the process, but it gives those PMs their time back. For instance, the vacation rental experts at VacayHome Connect handle every step of the process, from placing listings on all the top online travel sites to constantly optimizing each one for peak performance.
True full-circle performance optimization like that means rentals are capable of reaching maximum exposure, and with it, maximum revenue. It also means that property managers can quite literally kick back and collect, because all the work is being done for them.