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Sycophants Invade Vacation Rentals
By Ron Lee
Published: 04/22/24
Topics: Government, Legal, Lodging Management, People, Regulations, Software, Vacation Rentals
Comments: 0
Author: Ron Lee – Contributor, Vacation Rental Association, Inc.
Blog #: 0989 – 04/22/24Sponsor: VRAI – Providing education, services and support for vacation rental managers and home owners. – VacationRentalAssociation.org
HelpBookMe Implements Version 3.0 or S2D2 Pricing System
By William May
Published: 06/03/20
Topics: Software, Sunspots Vacation Rentals, Vacation Rentals, Vortex VIP
Comments: 0
Although the Vortex Organization first inserted yield management tools into their HelpBookMe lodging management system years ago, today they announced release of version 3.0 of tools referred to as S2D2 for "Seasonal, Strategic, Dynamic and Distributed".
Salman Arshad, chief engineer notes, "Artificial Intelligence pricing is based on the simple idea of Supply and Demand. But predicting supply and demand is a complicated undertaking because variables change frequently and quickly."
Yield Management, sometimes called "Dynamic Rates", increase or decrease based on the general economy, local and regional economic factors, the features and amenities of each property, local events and circumstances, prior day, week, month and quarter pricing, competitor rates and, even, the weather.
S2D2 rates are based on artificial intelligence that queries over 8 billion dollar points every evening, chooses the factors affecting every individual property, and then applies them to our geographic markets right down to the individual vacation rental home or lodging unit.
"Of course our pricing is based on sophisticated and ever changing algorithms, but we still apply manual review, oversight and, sometimes, intervention," said Kate Quinn, account manager at Vortex. "That is why our product name acknowledges all of those important factors."
"Studied" means constant inspection of what competitors are charging for similar and dis-similar properties. "Strategic" rates are set differently depending on time of the year, the season, and in accordance with local events.
"Dynamic" means that rates are adjusted regularly based on occupancy, advance notice and other factors. "Distributed" requires properties be widely advertised on every productive website and through conventional media to ensure that those who might demand the property know it exists.
You cannot have one of those elements without the others, otherwise the science of yield management would be incomplete. After extensive testing, results show that S2D2 version 3.0 can increase both occupancy and rates, resulting in more profit for property owners.
"It is counter-intuitive to recognize that S2D2 does not care what the day of the week is, what the season is or even if there are holidays." explained Arshad. "Instead, with constant calculation, the software foresees trends and adjusts rates to be at the sweet spot that fosters both occupancy and optimal rate."
Another reason yield management works so well is that, surprisingly, travelers have become accustomed to it and, in fact, learn to use variable rates to change their behavior. In other words, demand for lodging ebbs and flows based on rates.
The HelpBookMe technology and especially version 3.0 help charge the highest possible rate on the most popular dates. Modest rates are charged during shoulder seasons. And low rates are set for slow seasons to attract guests who would not otherwise consider booking.
Yield management shines during good economies, but quickly recognizes and reacts to negative events such as economic downturns, regional weather, and any happenings beyond anyone's control.
William May, a Vortex leader admits, ""Every owner loves the idea of high rates, but pride of ownership can be wounded when they look at lower seasonal rates. But once they see the growth in annual income, owners become quick converts to our S2D2 dynamic rates."
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Vortex Managers is a network of trained vacation rental management companies and provides its clients with the resources of giant lodging corporations without the cost or delay. HelpBookMe is a proprietary lodging management software system perfected with thousands of hours by expert engineers. For more information on Vortex, call <206-504-2744 or Email: Info@VortexManagers.com, or Website: www.VortexManagers.com</a www.VortexManagers.com.
Author: William May – Manager, Vortex Managers
Blog #: 0746 – 06/03/20
Vacation Rental Picante Sauce
By Wm. May
Published: 09/01/17
Topics: Lodging Management, Vacation Rentals
Comments: 0
Yet another corporate vacation rental management company has announced gobbling up tens of millions of dollars in investment, in hopes of dominating the vacation rental management industry in America, and perhaps even the world. But they are risky for property owners.
Beginning as far back at 1989, Pace Picante sauce began running television commercials. In one, grizzled cowboys threaten to lynch the camp cook when they learn he has been serving them picante sauce from "New York City?"
The cow pokes become offended because Picante sauce should be made by "places in San Antonio with fresh vegetables and spices by people who know what picante sauce is supposed to taste like."
While the huge vacation rental management companies want to convince property owners that they can manage every home just right, even though they are located hundreds of thousands of miles away, the truth is - they can not.
One of these giant companies even has over 300 negative complaints and reviews online about shoddy housekeeping and lack of response. The average for vacation rental managers is zero, one or two over time. Something is seriously wrong with having 300 unhappy guests, because that means there are far more who don't take the time to post complaints.
For another competitor, their complaints reveal a wolf in sheep's clothing. Although they profess to be managers, they quickly throw owners and managers under the bus whenever there are any complications, as the following complaint answer proves:
COMPLAINT: "2 days before my trip receiving a voice and email telling me that my reservation had been cancelled because of a double booking."
ANSWER: "Booking was canceled within 48 hours prior to her arrival when it became apparent to the Host that there was a conflict with a previous client who'd booked."
And then they accidentally revealed the wrong problem, (our company) "The Host (homeowner) is the party responsible for resolving any conflicts. [Our company] is a marketing and booking service that Hosts use to assist with reservations. . . The rental agreement. You accepted . . . Clearly states that the booking is directly between the Guest and the Host."
And then they reveal the unreliability of their services by saying "Double bookings are an unfortunate side effects of the vacation rental and travel industry as a whole."
Well, duh, no that is not correct. That is excuse making
Although no one is perfect in the lodging industry, double bookings are NOT common and they are certainly not an unfortunate side effect. They are the result of a company pretending to be a lodging manager when they are, in fact, too far away and too powerless.
LOCAL IS BETTER:
Vacation Rental Firms have proven to be a locally branded business. Owners and guests prefer to deal with a local reliable professional firm that is on hand to attend to them. Members of the Vortex Organization have found the best way to do that.
They are independently operated to ensure great houses, hospitality cleaning, happy guests and happy owners. Our first office opened in 1964, but we are the most tech-enabled managers. We are in it for the long haul..
But the network ensures that managers have all the tools such as dynamic pricing, post listings on hundreds of advertising websites, and answer guest inquiries 24/7. In fact, local firms have access to local tourism promotion, websites and contacts the others can not match.
That means our managers produce more bookings as well as more peace of mind.
So if the vacation rental "manager" you are using to book your home is not actually located in the area where you rental home is situated, or even in "New York City", its time to go local.
Call a local professional vacation rental management company to learn about all the comprehensive and reliable services you have been missing.
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And a few more just for fun:
1989 Pace Picante Sauce
1990 Pace Picante Sauce
1993 Pace Picante Sauce
1993 Pace Picante Sauce
1994 Pace Picante Sauce
1995 Pace Picante Sauce
Author: Wm. May, Vortex Managers
Blog #: 0530 – 09/01/17
DETAILS: We work to keep this information up to date, but details do change from time to time based on circumstances, often on short notice, and sometimes beyond our control. To verify any answer or other information you may need, please call or email us anytime. Allow a reasonable amount of time for response. Only legitimate inquiries will be answered.