Orlando Vacation Homes Rentals

posted by orlandovacationhome on Apr 1

Orlando Vacation Homes Go Mainstream – A Force to be Reckoned With?

Hotels in Orlando have gone into shock. In February 2009, hotel revenues were reportedly down dramatically (1).

Orlando vacation homes, although affected by the economic downturn, have some very powerful factors now in their favor.

1. Of the 200 +/- hotels in Orlando, there are as few as 400+/- full time sales managers at the property level promoting their product.
2. With 30,000 +/- vacation homes in the Orlando market, each owner becomes their properties’ best sales manager. You could argue there is an army of 30,000+/- part time sales managers/owners promoting Orlando vacation homes all over the globe on a daily basis.
3. Tour operators are now selling Orlando vacation home product with as much fervor as they do hotels. Such premium accommodations as Emerald Island Resort and Windsor Hills Resort are well know for their quality amenities.
4. In Orlando, there are hundreds of vacation home management companies aggressively promoting vacation home rentals for owners. The databases of management companies also include thousands of satisfied consumers who refer potential renters.
5. Orlando vacation home rentals have become very competitive in rate, and can often offer a better value proposition than a traditional hotel. Hence, their popularity with travelers.
6. Once the domain of Europeans, the domestic American consumer is becoming very educated on vacation homes and the benefits they offer including the ease with which the homes can be booked.

Orlando vacation home marketing has become organically powerful and has so much “hidden” muscle that a significant gain in market share against the hotel industry looks inevitable. The Orlando vacation home idustry segment is  now a force to be reckoned with.

Orlando Vacation Homes

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posted by orlandovacationhome on Dec 25

Business conditions in Orlando will eventually improve, but a few opinions are in order for maintaining viability for vacation rentals during these difficult times:

1. Know Your Customer – These times demand changing tactics. As we have indicated on another blog post, international travel may make up a smaller percentage of your overall occupancy than they did in 2008. However, as we write this, the tourism and travel market is very dynamic and always stay attuned to your customers. Always segment your customer base to better understand their tastes and preferences.
2. Emphasize Family Values – Don’t stray from the competitive advantages that vacation homes have over other traditional means of lodging. These include, but are not limited to privacy, value, and quality. A sacrifice in any of these core values will impact your core business significantly. Moreover, referral marketing based on past rental experience is a low cost way to generate value as well.
3. Flexible Pricing Strategies – As we have indicated on other posts(1), the general travel market is quite uncertain moving into 2009. Price cuts may need to be on the table for a temporary promotion to boost the bottom line. However, clearly establishing and communicating a strong value proposition for your rental home should always be the primary and first driver of any strategy.
4. Maintain Marketing Spending – Although difficult to do, it is not advisable to cut marketing spending during a business downturn. It is also not the time to pull support from vacation home management companies who may be able to garner high visibility on the internet which is often the lifeline for Orlando vacation home rentals.

There is possibly no better time for prospective vacationers to visit Orlando than in the coming year. Promotions for area theme parks and attractions abound. As we have established on several other posts(2), there is also no better value for Orlando lodging than renting area vacation homes. As always, do your own due diligence using the appropriate independent professionals when making a decision of any kind.

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