Walk ’n Talk Podcast: EP3 - Myths vs. Reality: What It Really Takes to Succeed in Vacation Rentals
Summary
This podcast episode from OwnerRez discusses the evolution of the vacation rental market, highlighting the shift from a side gig to a professional industry. Hosts should focus on genuine hospitality, well-run operations, and a long-term mindset to succeed.
Key Insights
- •The vacation rental industry has shifted from a hobbyist side gig into a competitive, professionalized market.
- •Standing out in the vacation rental market requires true hospitality, well-run operations, and a long-term mindset.
Action Items
- ✓Consider adopting a genuine interest in hospitality to improve your guest experience.Effort: lowImpact: medium
- ✓Ensure your operations are well-run to provide a professional guest experience.Effort: mediumImpact: medium
Tools & Resources
- →Walk 'n Talk podcast: Listen to the Walk 'n Talk podcast on Apple Podcasts, Spotify, or YouTube.
More from Getting Started
This article from GreekReporter.com reports that Greece is climbing the European short-term rental rankings. While specific details on the rise are not provided in this short article, this suggests a growing opportunity for hosts. It implies increased demand in the Greek market, which presents a dynamic opportunity for STR investors.
Ennismore plans to expand its hotel presence in India, with its first hotel under the Morgans Originals brand, Roswyn, already soft-opened in Mumbai. Following the Mumbai debut, the company plans to open a Hoxton hotel in Bengaluru and is actively exploring further expansion opportunities, recognizing the market's readiness for a luxury lifestyle product.
The short-term rental market's growth is slowing, according to eKathimerini.com. This shift may affect occupancy rates and revenue for hosts. Understanding market trends is crucial for adapting pricing and marketing strategies, ensuring continued profitability.
Curated by Learn STR by GoStudioM