VRS376 - Hospitality Trends and what to look for in 2021 with David Jacoby

This episode of the Vacation Rental Success Podcast is sponsored by NoiseAware
Prevent parties, property damage, and loss of rental revenue with one simple solution

The annual Hostfully survey on Hospitality Trends in the Short-Term Rental Industry highlighted a number of areas that owners and managers can take note of and act upon, and in this episode Hostfully co-founder David Jacoby shares his analysis of the results.

There is one clear outcome from 2020, and that is the concept of direct booking is catching on. In a survey of its users, Hostfully said:

“It had seen a notable increase in the past year in its clients prioritizing direct bookings."

Adding that:

" thought it unlikely hosts and managers will abandon this strategy in 2021 and coming years”.

The pandemic impacted many during the cancellation wave of early 2020 and caused hosts and managers to rethink their reliance on listing sites and OTAs.

The way that Airbnb handled cancellations and refunds had a profound effect on many who had previously revered the platform as the only marketing platform of note.

While there was some recovery – some would call it 'backtracking of policy' – the sour taste has lingered on, and more operators have been exploring their book direct options.

In the survey, respondents were asked about their growth strategies, the challenges they faced in 2020, and what they would expect 2021 to look like.

They also gave information on the tech solutions they used, and what were the most useful to their operations.

David shared:

• The range of respondents from sole proprietors to multi-property companies

• The importance of guest satisfaction in a software solution

• What stood out to be the main challenges hosts/managers faced in 2020

• What respondents reported as being more difficult and what they found easier in 2020

• The most valuable tech solutions according to managers

• Types of productivity tools most in use

• What the survey results told us about the take-up of digital guidebooks over hard copy



2020 Hospitality Report