Friday, January 6, 2012

Selling Vacation Rental Stays becomes Big Business

In a move that benefits Vacation Rental Management companies, and also has implications for Owner-Managed short term rental homes, the selling of vacation rental stays will be automated using the same technologies that are used by more traditional high-volume travel industry companies.

A "vacation rental switch" is being designed for VRs.  The switch could be described as a databases and software that collects vacation rental inventory and manages the process of selling it to consumers.  The switch provides a unified interface that a wide variety of companies involved in the VR industry can work with.

The hotel industry has been using a similar "switch" for years, and this is why you can do things like book a flight and a hotel at the same time on Expedia.

Here's a taste of whats to come....

Pegasus Solutions and the Vacation Rental Managers Association (VRMA) have partnered to launch a groundbreaking Vacation Rental Switch (VRS) in the next 150 days. The new interface will improve online vacation rental shopping, while also enabling vacation rental managers to more easily merchandise their properties.
The VRS will first launch with VRMA’s, its official public resource on vacation rental travel. With the VRS, the site will be capable of allowing travelers to find and book professionally managed vacation rental properties from hundreds of the world’s most reputable companies in real-time.

“For travelers seeking and booking vacation rentals online, the millions of diverse choices can certainly seem overwhelming,” explained Steve Trover, President of the VRMA. “Working together with Pegasus, we’re developing a solution that improves the shopping experience by setting new, consistent standards for how vacation rentals are presented and sold online. This also streamlines the process for vacation rental managers themselves, who will be able to automate the distribution of their properties through a single platform for the first time.”

Owner/managers who don't currently think in terms of their homes as "inventory" that needs to be "merchandised" should take note.  

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