2020 Hindsight of 2020 - Lodging Newsletter December 31, 2020
By Wm, May
Published: 12/31/20 Topics: Covid-19 Virus, Do It Yourself Rentals, Lodging Newsletter, Vacation Rental Management, Vacation Rentals, Venture Capital, Yield Management Comments: 0
Did you think 2020 would never end? Did it feel like it would last more than the usual 12 months? Or was it so wonderful for you, that you really wanted to extend the year longer?
Nah, let's admit surely no one can feel that way. But we can all agree that 2021 will be the first year in history that looking back will truly allow for 2020 hindsight.
For two decades, everything in Vacation Rentals and specialty lodging has grown and changed constantly and at an ever-increasing pace. Then Covid sped up changes even faster. Even owner income went up almost everywhere.
I am proud as punch to give credit to all our wonderful team members who rose to the occasion last year and are charging forward in this one. There are more people here than meet the eye.
Many work onsite cleaning and maintaining houses, providing guest and owner services. The onsite management partners and others all outpaced the competition.
Behind the scenes, accountants, software engineers, the reservation team, graphic artists and photographers, client representatives and even our board members - every person has pulled double duty this year. So, hugs and kisses.
And now, attached are our predictions for the new year.
They say that predictions are a fool's errand. But, for our lodging industry at least, we are going to foolishly take a stab at what to expect.
Vacation Rentals - We predict that the industry, which has grown steadily for decades, will continue to generate healthy returns for second home owners, especially for those who use our services. Nothing has slowed it down, including 9-11, the 2008 recession and not even Covid.
Covid - We predict that even more families will discover that vacation rentals offer a great respite to work-at-home, study-at-home and be-together-at-home. They can socially distance at the beach, in the mountains, at the lake, and on the ski slopes.
Drive To - We predict that even more guests will realize they can easily to drive to our locations, without jumping on a tiny narrow aluminum tube - also called an airplane. This year, folks may start flying more, but drive-to destinations will continue to prosper.
Rent By Owner - We predict that even more do-it-yourself rental owners will hire us when their amateur cleaners mess up or fail to show up, and when piddling maintenance needs require long drives, or when they realize they are making half as much money at twice as much work compared to what we can do for them.
Complexes - We predict that Condo Associations, Inns and Resorts will join us as they see how our marketing and sales services can make running their properties easier and more profitable.
Dynamic Rates - We predict that the science of Yield Management will continue to become so intricate that property owners will continue flock us, as they realize how much their technology-challenged managers are losing for them.
Venture Capital - We predict that investors in those over-leveraged, corporate vacation rental management companies will stop dumping money into their unprofitable business. Wise property owners will jump ship and into our program for stability and income.
Corporate Downfall - We predict that the corporate, out-of-town vacation rental companies will stop their come-on practice of promising profits to owners that they have failed to deliver.
Regulations - We predict that xenophobic governments officials, who were determined to kill the Golden Goose of tourism, will admit that vacation rentals are the cleanest, safest, quietest industry their cities and counties could ever hope for and can offset the devastating effects that Covid has wrought.
Partnerships - We predict that only service companies made up of partners, like ours, will continue to the kind of commitment to quality that every home needs and deserves
Rock Stars - We predict that Penny, Jackie, Salman, Trina, Evelyn, Brandon, Ozair, Kate, Barbara, Kylee, Fahim, Samael, Stephen, Jerry, Hisham, Simon, Jan, Chris, Nichole, Nichole and Nichol and all our team members will continue the commitment, dedication and expertise that make us so proud.
Invitation - We predict that property owners, who want maximum income with minimum fuss, will jump ship and join us soon. 2020 hindsight shows them that now is the time.
Author: Wm, May, Vortex Managers
Blog #: 0807 – 12/31/20
Sponsor: Vortex Organization – We train quality people to help run unique Inns, Resorts and Vacation Rental Management companies, in an industry that has been a webby net of technology combined with good old fashioned property, guest and owner services. – VortexManagers.com
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