Author: Buy2Greece

VacayStay Connect (formerly Vacation Storebuilder), a distribution and digital marketing platform provider for the vacation rental industry, has announced the expansion of their partnership with HomeAway, Inc. (NASDAQ: AWAY), the world’s leading online marketplace for vacation rentals, to offer thousands of shared ownership resort properties for rent across the global HomeAway® network of sites, including HomeAway.com® and VRBO.com®.

The companies have been in collaboration since 2011 to provide online storefronts and digital marketing services to property management companies and vacation home owners. The expanded partnership offers a new shared ownership distribution channel to millions of leisure travelers who prefer a more home-like experience to traditional hotel stays while on vacation.

“In partnership with HomeAway (AWAY), our team has developed integrations that now enable travelers to book shared ownership resort accommodations online as easily as they would a hotel room,” said VacayStay Connect president and CEO Sunil Aluvila. “This is a large part of our strategy to help shared ownership resorts and homeowners’ associations with inventory so they may fill their accommodations with families looking to vacation in their resorts.”

VacayStay Connect’s technology platform enables integration with developers’ inventory and content management systems, making open reservation times immediately available for travelers to book accommodations online through the HomeAway network of sites.

“Together with VacayStay Connect, we can help timeshare and shared ownership resort developers reach a largely untapped segment of families and groups looking for a resort-style vacation,” said Jon Gray, senior vice president of HomeAway. “They are a great complement to the existing HomeAway vacation rental homes available to travelers and an excellent new distribution channel for timeshare resorts.”

“We are very excited to partner with VacayStay Connect to distribute our resorts’ inventory through the HomeAway Network, and to bring in new customers and connect them to a wide range of shared ownership resort properties they may not have considered before,” commented Jason Toste, Senior VP of Yield Management at Diamond Resorts.

Source: Press Release 

Nowcast combines industry data, proprietary company transactional data and Google Trends data to predict market trends accurately and in real time, Auction.com said. The report predicts real estate activity based on data modeling developed by Google Chief Economist Hal Varian

A dream of greener pastures overseas is driving 47% of China’s millionaires to move abroad within the next 5 years, says a recent Barclays Wealth report.1 We’ve often cited four key motivators of Chinese overseas property purchasing ­– education, emigration, investment, and lifestyle – none of which are mutually exclusive usually. The Barclays report further supports that sentiment, with 78% of respondents citing superior education and improved employment opportunities for their children as main motivations for migration.1 In such cases, a property purchase is usually not far on the horizon. After all, sending a child abroad is often the first step towards greater investment for most of China’s super-affluent.7

Other lifestyle factors include the demand for greater security and a more preferable economic climate (73%), as well as better healthcare and social services offered overseas (18%).1 These findings follow recent data from a Visas Consulting–Hurun Report, which pointed to education quality, environmental pollution, and food safety as the top 3 reasons for emigration by Chinese consumers. It doesn’t help that populations in Chinese cities continue to become increasingly dense. Beijing’s population of over 21 million2 outnumbers the entire population of small countries like Singapore.3 A more interesting question, however, then becomes where these Chinese HWNIs are looking at.

Based on Juwai.com data, the top 10 favourite destinations for Chinese buyers4 include the following countries: US, Canada, Australia, UK, New Zealand, Portugal, Thailand, Spain, Singapore, and Malaysia. Many of these countries – including the US, Canada, Australia, and New Zealand – are also top emigration destinations5, as well as popular education destinations for Chinese consumers.

While the US remains the #1 choice for university education, Australia and the UK follow closely behind as perennial favourites. Also among the top five is New Zealand, which is fast becoming a popular choice for Chinese students. China is now New Zealand’s largest source of international students, earning the country a whopping $746 million from tuition fees alone in 2012.8 For the latest on Chinese buyers, sign up to receive updates from Juwai News now. Sources: 1. SCMP; 2. SCMP; 3. Department of Statistics Singapore; 4. Forbes; 5. Visas Consulting – Hurun Report “Immigration and the Chinese HNWI 2014” Report; 6. WSJ; 7. Higher Education Advisor; 8. New Zealand Ministry of Education Export Education Levy Annual Report 2012-2013

New Zealand’s tourism industry has made a promising start on achieving its 2025 goal but with strong international competition it can’t afford to be complacent, today’s 2014 TIA Summit has heard.

Tourism Industry Association New Zealand (TIA) Chief Executive Chris Roberts told Summit delegates that the industry needed to stay committed and aligned to achieve the Tourism 2025 goal of almost doubling total tourism revenue to $41 billion a year.

The annual target for growth in international visitor revenue was 6% CAGR (compound annual growth rate) but the actual growth was 7.4% last year, Mr Roberts said.

The domestic tourism target was 4% CAGR. However, growth was only 3.2% in the last 12 months.

“In total, we saw a 5% increase. So we’ve made a promising start but there’s a long way to go.”

The industry was undertaking a wide range of activities to bring Tourism 2025 to life, Mr Roberts said. These were being highlighted on the Tourism 2025 In Action blog.

However, there were many more opportunities the industry could exploit, such as growing New Zealand’s air connectivity. A recent International Air Transport Association (IATA) forecast projected that air routes to, from and within the Asia-Pacific would see an extra 1.8 billion annual passengers by 2034. New Zealand needed to ensure it had the infrastructure and tourism products available to get its share of that growth.

Planned convention centres and the cruise sector offered huge opportunities but New Zealand needed to attract more infrastructure investment.

“The China market continues to evolve at a rapid pace. 100 million Chinese will travel overseas this year and that is expected to double to 200 million by 2020. We need to keep thinking about who we are targeting in China and in emerging markets because every other destination is also eyeing these big prizes,” Mr Roberts said.

TIA was leading a project with the aim of ensuring that the tourism industry had the workers it would need to host growing visitor numbers so that visitors would have outstanding experiences.

“Tourism can and should deliver increased economic activity, jobs and business opportunities and add vibrancy to our communities across the country. But dozens of global destinations are targeting the same opportunities as New Zealand.

“But with the right commitment, alignment and policy settings, our industry can reach its 2025 goals and make an even greater contribution to New Zealand’s overall wellbeing.”

MSC Cruises and the LEGO Group have joined forces to create the shipboard LEGO® playrooms and entertainment options for families with children.

Under the agreement, the LEGO Group will design new play areas on MSC Armonia which is being renewed and lengthened under MSC Cruises’ ambitious Renaissance Programme*.

MSC guests will have the opportunity to discover it from November.  The LEGO Group will supply a broad selection of its world-famous construction toys and games, which are certain to capture the creative imagination of the young and young-at-heart, from 0 – 99 years old.

The agreement comes as MSC Cruises seeks to optimize the overall onboard experience for guest and families by partnering with top global brands that are emblems of excellence in their fields.

MSC Cruises has long made the LEGO toys available on all 12 ships in the fleet, but this is an opportunity to bring MSC guests more dedicated products and areas for younger travellers.

Among a raft of enhancements to create unforgettable, fun and stress-free family cruises, the Renaissance ships will have separate clubs and facilities for five age groups, namely Baby (under 3s); Mini (3-6); Junior (7-11);Young (12-14) and Teen (15-17). A video is now available that describes the Lego experience on board.

According to the United Nations World Tourism Organization (UNWTO) tourism remained a strong industry worldwide as international arrivals grew by 5 percent in the first eight months of 2014 amid geopolitical challenges and lingering concerns over the recovery of the global economy.

Global tourists traveling from January to August 2014 reached 781 million—36 million more than that recorded in the same period of 2013, based on the latest UN agency’s World Tourism Barometer.

June, July and August – the three northern hemisphere summer months account for approximately a third of annual tourist arrivals. The global tourism industry remains on track for another record-breaking year, following a rise in international visitor numbers during these key summer months. And this year the world saw a 4% increase in cross-border travel during the summer period, compared to 2013.

Tourist influx rose at the fastest rate in the Americas, where numbers were up by 8% in the first eight months of the year, followed by Asia Pacific (+5%) and Europe (+4%). By sub-region, North America (+9%) and South Asia (+8%) were the star performers, as well as Mediterranean Europe, Northern Europe, Northeast Asia and South America (all +7%).
Southeast Asia’s arrivals growth slowed to just +2%, while Africa and the Middle East both experienced 3% growth, despite their problems. China has reinforced its position as leading visitor source market at 16 percent in 2014.

Among the world’s top 10 source markets outbound travel growth was highest in China (+16%), France (+10%), Italy (+8%), the US (+6%), Brazil (+5%) and Russia (+4%). India also showed remarkable growth, with a 31% rise in outbound numbers the UNWTO stated.
For the full year 2014, global tourist arrivals are expected to increase by 4% to 4.5%, compared to last year’s record total of 1.09bn. The Philippines, on its part, expects tourist arrivals to reach 6 million this year and 10 million by 2016.

A 50-year roadmap for the future of adventure travel and responsible tourism will be explored during World Travel Market, the leading global event for the travel industry.

Issues, policies and trends in the adventure travel sector will be debated across two days, rounded off by a networking event for operators, agents, destinations, tourism boards, equipment brands and the media.

Chris Doyle, Executive Director – Europe, Adventure Travel Trade Association (ATTA), will lead the first session, entitled ‘Pioneering the Next 50 Years, Today’.

Organised by ATTA, the debate will consider a new 50-year path for responsible tourism and ways to tackle the problems faced today.

Doyle said: “We must acknowledge today’s existing barriers and challenge faulty institutional models and systems.

“It is time to explore a new course of action, designed to help our entire leisure tourism industry…to reconsider, re-frame and re-invent how it views development and capacity.

“We will take a deeper look at how purposeful shifts in policy and development can contribute to an economically prosperous future for the entire tourism supply chain.”

The session will take place from 1pm to 2pm on Wednesday 5 November in Platinum Suite 3 and 4.

Doyle will also take part in the three-part adventure travel programme on Thursday 6 November.

The first session is called ‘Condensed Adventure Travel Trends for the Travel Professional’, and will feature Doyle, along with Lyn Hughes, Publisher and Editor-in-Chief at Wanderlust Magazine, and Ulrika Larsson, ATTA Member Advocate Europe for AdventureConnect.

Taking place from 10am to 11am, it will offer delegates the chance to hear about adventure travel trends and research.

Doyle commented: “Hot topics include market shifts, digital marketing, traveller lifestyle and motivation, youth markets and mobile booking.

“We’ll make sure delegates receive valuable insights on how to frame these issues within their businesses.”

The second session, from 11am to noon, will see Doyle leading a forum debating the issues in his earlier presentation, ‘Pioneering the Next 50 Years, Today’.

The third and final element of Thursday’s programme, from noon to 1pm, is part of the ‘AdventureConnect’ calendar of networking events organised by ATTA.

It will feature nibbles and drinks, and the chance for those in the industry to network.

All the events on 6 November will be in South Gallery 19-20.

World Travel Market Senior Director Simon Press said: “As we are marking the 35th WTM this year, we have been looking at the next 35 years in travel and discussing what the future might hold.

“It’s great that the adventure travel sector is also taking a long-term view and is debating sustainable policies that could shape the industry for the next 50 years.

“The Adventure Travel Trade Association serves more than 900 members in 80 countries, and so it is the ideal partner for us.

“The sessions being run by ATTA will certainly help delegates to achieve their goals in business, while supporting the wider industry on the road to a responsible and profitable future.”

International tourist arrivals worldwide grew by 5% during the first eight months of 2014 according to the latest UNWTO World Tourism Barometer. Despite geopolitical challenges and a lingering economic recovery, tourism demand was strong during the northern hemisphere high season of June to August.

International tourists (overnight visitors) travelling the world between January and August 2014 reached 781 million, 36 million more than in the same period of 2013. With a 5% increase, international tourism continued to grow well above the long-term trend projected by UNWTO for the period 2010-2020 (+3.8%). The peak months of June, July and August, which account for about one third of the total of the year, saw an increase of 4% compared to the same months of 2013.

By region, the strongest growth was registered in the Americas (+8%), followed by Asia and the Pacific (+5%) and Europe (+4%). By subregion, North America (+9%) and South Asia (+8%) were the star performers, as well as Southern and Mediterranean Europe, Northern Europe, North-East Asia and South America (all +7%).

“International tourism continues to grow above expectations despite rising global challenges”, said UNWTO Secretary-General, Taleb Rifai. “Yet, increasing geopolitical uncertainties and the fact that the global economy shows signs of weaker and uneven growth require our attention”, he added.

Commenting on the possible impact of the Ebola outbreak in West Africa on tourism, Mr. Rifai said “Although it is too premature to assess the full impact of the outbreak on the tourism sector, at this point we do not expect a major effect on the sector globally.”

“International tourism in countries where there is widespread transmission (Liberia, Guinea and Sierra Leone) represents less than 1% of all international arrivals to African destinations. Yet we have to be aware that misperception about the outbreak is affecting the whole of Africa. On the upside, and according to information gathered from our African Member States and key tour operators and associations in major source markets, there are no significant cancellations to report, despite a certain slowdown in bookings”.

Mr. Rifai recalled that the 3rd meeting of the International Health Regulations Emergency Committee regarding the 2014 Ebola outbreak in West Africa convened by the World Health Organization (WHO) on 23 October 2014 “reiterated its recommendation that there should be no general ban on international travel or trade.”

“Most importantly, we need to urgently step up international efforts to support affected countries to contain the outbreak, ensure that WHO recommendations are implemented and provide, at all moments, transparent and timely information to fight misperception and fear, and minimize the spillover effects to the whole region”, he added.

There is no doubt that vacation rentals are much in demand, but it does not mean that if you are one of those long established into this business you can be successful without really marketing yourself. Remember markets are efficient; if there is good demand, we will eventually see competition coming in, which is likely to be making more efforts than existing players so as to be heard louder and clearer than others. Hence it is important to see your brand is sustained and continually endorsed by customers. And to make this happen in a competitive world, you should blow your trumpet as loud as you can.

To be successful, delivering the right product is not sufficient alone; it is also essential that the product is marketed well. Fine execution skill backed by a sound marketing strategy is the key to success when it comes to being profitable in the vacation rental business. Some of the essential elements of a marketing plan / strategy have been discussed below.

Defining the Target Audience

Identifying the right target audience is an essential part of a well designed marketing strategy. This should allow you to optimize your return on the marketing spend that you make, as the success rate of any targeted marketing effort would be much better than a marketing plan that is not selectively targeted.

The attributes that would define the target market include age, location, marital status, income group, etc. To understand and decide on the target audience for you own holiday property do an internal benchmarking against competition and also review the past history to understand the profile of customers who have stayed with you. The key things that you can look to benchmark against competition are your location, pricing, amenities offered and the quality of your furnishings and construction. Once this is done, you would be in a comfortable position to know who your target audience should be.

Build Awareness about your brand and product

There are several ways you can build you awareness among target customers and quite a few and important among these include:

a) Using Social Media -Utilizing social media for marketing has gained significant traction these days. Whether it is large corporate or small business, leveraging social media to communicate with potential customers has become an important element of the marketing plan. Twitter, Linkedin, YouTube and the most popular of all Facebook have become an intrinsic part of a corporate communication today. The multiplier effect of a Facebook ‘Like’ or Linkedin ‘Share’ and its impact on the reach is unparalleled as compared to any other form of promotion.

So don’t forget to have a page of your vacation rental on Facebook or Linkedin. You may even upload videos of your properties on YouTube so as to enhance your visibility.

However, you cannot solely rely on social media as a marketing tool. It is essential that you integrate it with other marketing channels. Remember that the role of social media in your marketing plan is to use it as a communication vehicle – It should make your rental reachable to those interested in staying in it and noticeable to those who are not aware of it.

b) Having a website so that you are reachable and searchable – A lot of people, who intend to stay at holiday houses, do a scan on the internet to find out the right place for them. Hence it is crucial that you should have a well designed website that communicates really well about the quality and services that customers can expect if they opt to stay with you. The webpage should carry images and videos that bring forth the most beautiful aspects that define and distinguish your vacation homes. Testimonials / reviews from existing customer posted on your website would be helpful, as this would shape up the confidence of a potential customer looking for a stay in rental property.

To add to the visibility of your website, make sure that your website is listed at the relevant portals so that customers don’t miss to consider you while they are planning for their vacation rental stay.

Recall Value

Besides generating awareness amongst the target audience about your product, the other important thing that is crucial for success is that whenever people are looking for holiday homes, the first name that they should recall is yours.

For a good recall value, it is important that you continually reach out to your target audience. A good way to reach out to them could be Newsletters – You can have a newsletter published weekly or fortnightly. The newsletter can contain topics of interest of potential travelers or customers. You can talk about the new developments in places where you might be owning a vacation rental or just provide them valuable insight into various aspects of travel planning. The newsletter can also carry images of your property or house.

Leveraging Existing Customer Network

It is always much easier and cheaper to retain a customer than get a new one. In the business of vacation rental, it is essential that existing customers are satisfied and happy with your services. A referral from a satisfied customer who has stayed with you is the most effective form of advertisement than any other. You can also reward your customers who provide you a referral. The reward could be anything, a small gift or a gift voucher. Another way to incentivize your existing customers is provide them a discount on subsequent stays at your accommodation. You can also extend the discount scheme to relatives of your existing customers, which will help you broaden your reach and visibility. You should also plan to remain in touch with your existing customers. One special way to stay in touch is to send them e cards on holidays or their special days such as birthdays and anniversary.

So if you are in the mood of turning your gorgeous vacation home into a profitable business do keep these marketing strategies in mind and devise a marketing plan that best meets your specific business requirement.