Our Rise and Shine: The Vacation Breakfast Series finished up its stops in Asheville, NC and Pigeon Forge, TN this week! Catch up on what you may have missed with these key takeaways from the presentations.
Smoky Mountain Market Trends
Our experts unpacked travel and booking data for the Asheville and Pigeon Forge markets in 2024, showcasing areas of potential for these Smoky Mountain vacation rental managers. We covered the drivers for overall market performance, booking window trends, length of stay, and trends for 2025.
We found that for Western NC:
- 52% of property managers saw an increase in occupancy compared to 2023
- 38% of property managers saw an increase in ADR from 2023
- 41% of property managers saw an increase in revenue/unit from 2023
For Eastern TN:
- 68% of property managers saw an increase in occupancy compared to 2023
- 41% of property managers saw an increase in ADR from 2023
- 55% of property managers saw an increase in revenue/unit from 2023
For those looking to capitalize on market trends in 2025, focus on revenue management, homeowner acquisition, and guest experience. These will be key areas of growth in 2025.
Hurricane Helene’s Impact
Hurricane Helene wreaked havoc on these regions last summer. Western NC was hit the hardest by the storm, causing massive loss of life, property, and infrastructure.
The vacation rental industry suffered serious loss as well. In places such as Asheville, adjusted paid occupancy rates hit historic lows, decreasing from 40% in the summer to just 10% in October 2024 following Helene.
Best Strategies for Homeowner Acquisition in Property Management
Attracting new homeowners is just as crucial as marketing to potential guests.
We shared tried-and-true strategies for building a strong portfolio of homeowners, covering the entire acquisition journey—from identifying valuable leads and increasing exposure to successfully converting and closing deals. Each phase included six highly effective tactics to move leads further down the pipeline.
Proven Methods to Increase and Manage Bookings
For vacation rental managers focused on growth, more bookings are always the goal. We explored how rental insurance can enhance your service offerings, giving travelers the confidence to book while also generating an additional revenue stream for your business.
Additionally, we broke down the essentials of channel management, outlining the most effective ways to boost property visibility across key OTAs.
Maximizing Profitability in Property Management
More revenue doesn’t have to mean more complexity. We shared simple yet powerful strategies to increase profits with minimal effort, including:
- High-ticket offerings
- Upsells like travel insurance
- Add-ons such as early check-ins and late check-outs
- Website enhancements
- Smart automations
We also emphasized the importance of accurate trust accounting, data-driven revenue management, and the best tools to optimize these processes.
AI’s Impact on the Vacation Rental Industry
With research suggesting that generative AI could automate up to 70% of business activities, understanding its role in vacation rentals is more important than ever.
Key takeaways:
- AI streamlines operations, reduces costs, and improves decision-making
- AI-powered tools can enhance owner acquisition, pricing strategies, and bookings
- Automated guest support is on the rise, offering increased efficiency and reliability
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