HomeAway Launches MarketMaker™ to Radically Improve Vacation Rental Performance

MarketMaker™ provides data-driven insights for property managers.

HomeAway had a surprise at this year’s Rezfest, its premier event for property managers held in Las Vegas last week. It unveiled MarketMaker, the industry’s first revenue management tool to tap into real-time data powered by traveler behavior. MarketMaker is also the first revenue management tool to provide a view of a market’s overall demand and occupancy.

By analyzing billions of data points, MarketMaker provides a holistic view of major factors that affect a property’s potential and puts data into the hands of property managers so they can make their own informed business decisions. The benefits of the tool allow users to:

  • Set revenue and occupancy strategies at the property level
  • Identify opportunities for higher revenue and occupancy
  • Easily identify and track competition in the same market
  • Save time by viewing data and opportunities for many properties in a single dashboard
  • Find out which local events and holidays could affect demand in a specific area

“Historically, vacation rental managers had to rely on static, incomplete data sets and tools that make pricing recommendations without considering traveler behavior or managers’ unique goals,” said Cliff Vars, general manager of HomeAway Software. “MarketMaker is unlike any other revenue management solution available because we don’t have to guess what’s happening in the market; we don’t have to make recommendations; we help property managers make better decisions by providing them the data they need, which is unavailable anywhere else.”

In addition, the activity feed in HomeAway’s dashboard complements MarketMaker by providing a comparison of factors other than pricing that influence a traveler’s booking decisions, such as photos, amenities and reviews. This side-by-side view allows property managers to analyze patterns to learn why they have secured a booking or lost it to a competing property.

The company is currently beta-testing a version of this product for property owners and managers. Property managers that attended Rezfest were able to sign up to pre-order MarketMaker.

“To make the best decisions when it comes to managing my vacation rentals, I…

Read the full article from the Source…

Leave a Reply

Your email address will not be published. Required fields are marked *