End-to-end property management platform Hostfully has released its Annual Hospitality Report for 2019, which aims to address the growing challenges and competition in vacation rental hospitality in a series of key takeaways.
By gathering data from 220 vacation rental professionals about the trends and growing complexity facing the industry, the company has compiled a number of essential takeaways in its report.
The data gathered shows that managers need to become more sophisticated in how they solve different problems in their business. This is a result of the degree of competition increasing, the number and types of software solutions increasing, and guest expectations continually rising.
According to the report, it is becoming harder than ever for vacation rental managers to navigate the technology landscape with competition on the rise. For that reason, it is seeking to analyse what the top managers are doing to succeed in the face of such challenges and how technology is helping them to achieve their growth goals.
Hostfully President and Co-Founder, David Jacoby, said:
“This is our third year doing the survey and the sample size gets bigger every year and the data more meaningful. One consistent trend is that property management software still consistently fails on the hospitality side of things.
“PMSs are mostly focused on helping property managers get the reservation but once that reservation is made, property managers want to provide additional services to the guests, and they are unable to through their PMS. This has been a consistent finding throughout all three years of the survey."
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