The upcoming battlefield puts revenue management technology in the spotlight in the short-term rental space
In the past two years, the short-term rentals (STR) industry has exploded with increased consumer demand and media attention due to Airbnb’s IPO, Expedia and Booking.com’s focus on vacation rentals, and industry-wide consolidation. In addition, high growth and lucrative exits attract significant external investment. The vacation rental industry is arguably the hottest travel sector as many vacation rental companies saw gross revenue grow more than 50% in 2021.
As a result, STR professional management firms are rapidly becoming more advanced, tech-savvy, and efficient as they compete for both homeowner contracts and guests. In the traditional vacation rental industry, older independent operators are considering selling their businesses as investment buyers flock to the sector to gain market share through acquisitions. And the advent of SPACS has allowed companies that haven’t achieved profitability (e.g. Sonder and Vacasa) to turn to the stock market with less control.
Taking the hotel industry as an example, short-term rental management companies have discovered revenue management strategies that help them capitalize on the influx of demand. No longer clinging to static seasonal night and week prices Companies in the industry are quickly switching to dynamic revenue management strategies that mirror other travel industries. However, the proportion of STR companies using tech solutions for revenue management is still small, and tech companies are struggling to meet these emerging industry needs.
In Charleston, SC, nine of these tech companies are entering an arena next week to promote new functionality for STR companies on the Conference on Vacation Rental Data and Revenue Management (DARM) Battlefield sponsored by RevPARTY. Expedia group is keeping an eye on new industry dynamics and seeks to sponsor awards at the conference, which include an Innovation Award 2021 and a People’s Choice DARM Battleground Award. That INTESTINAL battlefield takes place on August 17th and 18th at the Francis Marion Hotel in Charleston. In addition to the battlefield, Expedia Group sponsors the DARM Pioneer Award 2021 and the 2021 Vacation Rental Revenue Manager of the Year.
DARM Battleground Presentations
Below is a preview of what contestants and judges will see during the upcoming DARM Battleground, which will be presented by. is sponsored RevPARTY.
Art, Rented’s automated rate tool with Andrew McConnell
Rented offers technology, tools and services to help vacation rental professionals optimize their property portfolios. art, Rented’s automated rate tool, is the only dynamic pricing software designed for and by professional managers for short term rental income. With Art, your internal specialists can set the right price for each property with intelligent price recommendations and simple individual adjustments. For companies that need practical support, our revenue management service offers a dedicated revenue manager who specializes in every detail: set prices, monitor performance and make individual adjustments.
DemandIQ according to key figures with Melanie Brown
DemandIQ by Key Data is the first product in the accommodation industry to collect real, future-oriented data on travel demand in real time. So far, we’ve all relied on booking dates to reflect traveler demand. While this shows the picture of the demand you captured, it doesn’t show the full story of the demand you didn’t capture or the market-level demand that never found its way. With this new product, we will be able to offer clear insights into the overall demand picture.
AirDNA’s MarketMinder with Scott Shatford
AirDNA presents MarketMinder, its flagship platform for short-term rental data and analysis. In addition to the market intelligence tools, this battleground session will focus on two aspects of MarketMinder: My characteristics, a tool that vacation rental hosts and managers can use to take on board accommodations, create custom comp sets, and compare themselves to the competition; and Intelligent tariffs, a new tool to apply automated pricing to your offers.
Portfolio Analytics from PriceLabs with Oliver Marczynski
Portfolio analysis from PriceLabs offers a convenient way to visualize internal booking data and helps to identify opportunities to increase sales. Intuitive charts make it easy to see portfolio and group performance at a glance without losing track of individual listings that may require additional attention. Combine Portfolio Analytics with our market dashboards to compare your booking trends with similar offers in the market and automate price adjustments to respond to booking patterns with our dynamic pricing tool for a complete revenue management solution. Connect via our 50+ PMS partners or an internal API and activate actionable booking trends within minutes.
RevMax with Desiree Garcia and Maureen Shilling
RevMax works with data professionals to provide market and business intelligence to help with pricing strategies. RevMax offers channel management, nightly minimum management and automated incremental revenue generation. In addition to all of the tools to build an effective pricing strategy, the seasoned RevMax team also provides consulting services for companies that need help using the tools. RevMax is now open to non-streamline customers as well, so it’s the perfect time to speak to the team to see how they can help increase the bottom line.
NAVIS shopping cart abandonment with Amir Rashid
That NAVIS shopping cart cancellation tool (SCA) works behind the scenes, capturing location and contact details entered by guests as they search and explore options on your booking engine. As soon as a guest enters their email address, all previously entered stay and contact details are sent to the lead form, even if the reservation is not made. With up to 80% of guests leaving their shopping carts, SCA brings the lead data back to the vacation rental company and enables them to convert up to 30% of their abandoned web traffic from captured data using highly personalized outbound emails and calls.
Track property management software with Michelle Marquis
Effective revenue management is about more than just unit prices. PMs not only have the ability to flexibly set and configure unit prices and integrate with third-party providers for dynamic pricing, TRACK offers tools for fee optimization―The second largest revenue driver for most PMs. TRACK’s fee configurability gives PMs the ability to overcome the threats of competitive commission rates by keeping homeowners optimally bundling fees to work within the confines of each channel and facing one of the biggest drawbacks in our industry isolate, namely “pay to death” after choosing a home. rent alone. Once the charges are created in Track, PMs create business rules for their automatic bulk application by unit type, location, reservation type, channel, etc., eliminating much of the manual labor that is typically required to optimize this important revenue stream.
LMPM’s Trip Manager with Sean Raftree
LMPM is next generation property management software for vacation rentals. The powerful trip manager from LMPM can improve your revenue management strategy so that you measure RevPOR, not just RevPAR. Complement your rate strategy by including additional services and experiences to generate additional pre-stay and during-stay income, monetize owner stays, and provide merchandising benefits on the channels.
Wheelhouse Pro with Andrew Kitchell
Wheelhouse will showcase some of the features of its newest platform, Wheelhouse Pro. Wheelhouse’s goal is to make the pricing systems in the accommodation sector transparent and verifiable. Their latest toolset will demonstrate that ambition and illustrate the power and control that revenue managers can have with greater visibility into how a pricing engine works.