A little over a year ago I decided to hone my expertise and specialise fully in working with clients in the vacation and short-term rental industry. I haven’t looked back.
Alongside my small team, Abode PR has provided services to businesses in the vacation and short-term rental space including SaaS providers, events, associations, start-ups, marketing platforms and property managers. Our clients have been based all over including Israel, USA, United Kingdom, Canada, Spain, Portugal and Belgium.
In addition, over the last year, I’ve been privileged to speak at 3 international conferences, regularly write for VRM Intel magazine and VRMA Arrival, compile a vacation rental ‘Thought Leader Spotlight’ series and sit on the planning committee for the VRMA European Conference.
In the words of David C. Baker, “There is business in expertise”.
There has always been something very intriguing to me about being a ‘subject matter expert’ over being a generalist. The process of digging deep into a vertical rather than merely gracing the sides of a horizontal, is interesting to me. There is real excitement in detail.
But what I know for sure is that the more you dig, the more you realise what you don’t know.
The vacation and short-term industry is large and dynamic. Projected to be worth $168 billion by next year and set to host a portion of the 1.8 billion international tourists anticipated to travel in 2020. The industry includes an ecosystem of different business types, services and products. From start-ups with brilliant solutions for new and old problems, to established property managers who have been providing hospitality to guests for decades.
Over the last year I’ve had conversations with hundreds of professionals in the industry, including the media who are attracted by the dynamism of short-term rentals, property managers that have been around for generations, entrepreneurs with deep pockets (thanks to funding) to match their big ambitions, owners just starting out, other industry specialists and everyone in between. Everyone has a different challenge. There is no one-size solution that fits all.
Nothing stands still. The problems of yesterday no longer appear so troublesome, and the ‘next big thing’ is different today. Giants in the industry come from seeming no-where, and speculation is always rife with what or who will be the next ‘disrupter’.
Even the term we use to refer to the industry is changing. ‘Short-term rentals’ better reflects the size and scope of an industry where guests’ needs defy logic, and there is an increasing blurring of the lines between leisure and business and traditional versus urban.
Who really knows what the next year will bring? But what we do know for sure is that the rate of demand for short-term rentals isn’t slowing down anytime soon. The industry is still ripe for disruption and change, and there is still room for more players and more creative solutions.
What I know for sure is that this is an exciting (albeit challenging) industry to be in, and no doubt this coming year will unfold with more opportunities for deeper learning.
Bring it on!
Abode PR is currently taking on new clients. If you run a business that sits within the vacation and short-term rental space and would like to have a conversation about how PR and content marketing can help your business grow – do drop me a line.