Connection & Community: Keys to Success

Although #leaders across industries may have different ideas of what it means to be successful, there is one element of #innovation that is undeniable – you cannot elevate your enterprise to new heights without the exchange of ideas and business models. While it is possible to independently gain professional experience and come to your own conclusions when it comes to current trends and methods in your sector, nothing quite compares to brainstorming ideas and observing a variety of perspectives of people from all walks of life.?

Working in #vacationrentals is choosing to live a life of #hospitality, providing this to your shareholders, guests, and communities where you operate. In order to obtain company goals and expand your business, it is crucial to network with other leading professionals and take the time to listen to the plans and aspirations of colleagues and competitors alike to better evaluate the industry around you. Through newfound insight and understanding, you can improve your operations to reach new customers and provide a better quality experience.

Most #propertymanagers will agree that in order to expand your business, retain guests, and leave clients consistently satisfied with positive memories of their stay, placing people at the center of every operation is key. #Community and trust are two centerpieces in the short-term vacation rental industry, and any established leader will admit that placing any element of the company over guest experience is the equivalent of putting one foot in the grave for your corporation.?

If you ask our team at VTrips what type of company we are, they would say without hesitation that we are a hospitality company focused on the customer experience. Meanwhile, organizations like #Vacasa essentially label themselves as a technology company and focus on the supply side of the business instead of generating guest demand. To operate alongside STR leaders who work tirelessly to make a positive impact on the people and neighborhoods around them, companies like Vacasa are seen as completely oblivious to the true nature and benefit of the vacation rental industry.?

By branding themselves as a separate industry and leaving a bad taste in the mouths of guests and property managers due to poor strategies and low-quality standards, Vacasa and other rental agencies have further isolated themselves from the professional and personal connections that are the lifeblood of this sector. Maybe with more industry guidance Vacasa’s operations would have thrived across the urban and mostly non-exclusive contracts throughout European markets,?

I enjoy networking events to stay updated with #global news and better understand different cultures and nuances to asses how to best navigate our industry, no matter the property's location or headquarters. Unfortunately, I have never had the chance to ask Vacasa staff face-to-face about their now-public business model and stock performance. Specifically, I am interested in knowing (after spending hours analyzing their public filings and listening to podcasts with members of their C-Team) how, based on their math, they will organically generate 12,950 new owner contracts in 2022 to hit their goal? – which I hope to one day have the chance to do.?

Overall, it is crucial to keep an eye on the industry to adapt and evolve in the trajectory of success. Creating genuine connections and being open to learning about new concepts and reworking your vision to mirror the needs of the present day are how to build a #sustainable and impactful business.?