RealPage’s Kigo® and a leader in providing vacation rental booking and channel management platform has recently announced the launch of KigoHospitality. This offering, which comes after other successful pilot and Beta programs with existing RealPage clients, is to provide apartment owners and operators with a better platform to efficiently manage short-term rentals. KigoHospitality is for properties that want to allocate between 5 and 30 units to short-term rentals that can’t afford on-site staff to manage the hospitality experience.
KigoHospitality has been deployed at 45 apartment units in a JPI property, known as the RealPage Suites, located near RealPage headquarters in Richardson, Texas. Clients interested in evaluating KigoHospitality will be attending a series of KigoHospitality Workshops that begin by experiencing KigoHospitality in the RealPage Suites.
Steve Winn, Chairman and CEO of RealPage
“Apartment owners with only a few units available for short-term rentals do not have the infrastructure to support a great guest experience and the systems to efficiently handle guest screening, insurance, agreements, taxes, regulations, cleaning services, access control and 24-hour contact center services. KigoHospitality provides a cost-effective way for apartment owners with a limited number of short-term rental units to capitalize on the significant shift in consumer behavior away from hotel accommodations to short-term apartment rentals.”
Matthew Hoffman, Senior Vice President of Kigo
“According to the Phocuswright study, the U.S. short-term rental market, which is estimated to reach $40 billion by 2019, is currently facing supply shortage challenges resulting from rising traveler demand. While apartment owners, and managers across the country have vacant apartments that can easily meet the pent-up and growing demand, they are faced with unique challenges that make entering the short-term rental market too risky. Now, thanks to the launch of KigoHospitality, we are enabling apartment owners and operators to easily create and manage short-term rentals with hotel-like quality and consistency while adding a new revenue stream.”
Keith Dunkin, Senior Vice President of Asset Optimization at RealPage
“KigoHospitality provides a real opportunity to optimize supply and demand through the secondary revenue stream that short-term rentals can deliver. Just as important, pushing inventory out of the long-term rental pool helps constrain supply, which YieldStar and LRO monetize for owners in the form of higher rents.”
Edited by V. Haviland
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