The selection process is complete and the bubble properties have been selected. Now you can participate in crowning the Luxury Vacation Rental Champion. Check out the bracket below. Your votes will narrow down the top 64 vacation rentals. Don’t waste any time - Round 1 has started! Vote now for your favorite properties. Feel free to share with your friends, family, and colleagues!
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We hear the same comment about once a week “We are looking for an unspoiled getaway. We want the Caribbean and Mexico as it was before the high-rises and all-inclusive resorts dotted the landscape. We want the unique yet with all the luxuries intact.” We suggest a few opportunities “south of the border….of Mexico”.
As the chill sets in and we prepare for Christmas, our neighbors in Central America are offering many opportunities to escape the snow and cold. From a resort in Belize accessible by boat to an estate in Panama to a flat in Costa Rica, we have options from the Caribbean to the Pacific available through the winter season. Even if you missed the booking window for Christmas, it’s going to be a long winter (which by the way officially began on Monday, Dec. 21st) so do not delay because as we enter the ice-box up north, in Central America, it’s just heating up.
Once the domain of tweens and teens, Facebook has become a worldwide phenomenon, just one component of the genre we now call “social media”. Many of our clients may know The Society is on Facebook and we offer options via our Global Bundle to promote via Facebook. Yet, we at The Society are also statisticians and well attired marketing geeks. We ran across the following concerning Facebook and wish to share it with our property manager and vacation homeowner audience.
Younger men and older adults flock to site.
Facebook may have started as a site geared toward the college crowd, but as the most popular social network in the US, it has broadened its user base considerably. The Nielsen Company reported that in June 2009 Facebook had a unique US audience of more than 87 million people, compared with fewer than 63 million who visited MySpace that month.
According to Inside Facebook, the fastest-growing group of users in August 2009 were males ages 13 to 17, whose numbers increased by 14.5%, followed by men ages 45 to 54, rising 12.8%. Among women, the highest growth was in the 45 to 54 and 55 to 65 age ranges, which were up 11.8% and 11%, respectively.
Female Facebook users of all ages outnumber their male counterparts. But new male users flocked to the social network at a faster rate than females in almost every age group, tightening the site’s gender gap somewhat.
Inside Facebook reported that 57% of the site’s users, or about 45.4 million people, were women, compared with some 34.3 million who were men.
The largest block of Facebook users is still ages 18 to 25, followed by 26-to-34-year-olds. Taken together, those groups made up 51% of the user population. But young adults also have the lowest rates of uptake, indicating that the age disparity may continue to close, along with the gender gap.
Considering the baby-boomer and Generation X demographic growth of eyeballs i.e. with the money to spend on vacations with family and friends, now, will you consider Facebook?
Coming off the summer 2009 vacation season, there were glimmers of hope on the horizon. The term “staycation”, popular amid the depths of the economic downturn during the first quarter of 2009 seemed to slowly be eradicated from the popular press. Hotels and resorts lured clients by offering $99/night rates with value-added amenities thrown in (children eat free at Ritz-Carlton). Gas prices stabilized with a national average of $2.49/gallon a 37% decrease when compared to July 2008. Better economic news was the catalyst to spur travelers to consider at minimum a short vacation within their drive-time markets. Those opting for air travel were surprised by higher air-fares (due to reduction in capacity) and an increase in over-sold flights.
The following White Paper recognizes the changing outlook concerning vacation culture.
The acceptance of “last-minute bookings” as the new normal
Reduced rates/REVPAR (Revenue Per Available Room Night) for the foreseeable future
Increase in incentive/corporate travel as businesses exit the recession
The value orientation proposition
Even during the past two quarters of economic uncertainty, the growing popularity of vacation home rentals continues. Although supply has exceeded demand at present, future growth coupled with a diversity of supply worldwide may provide a healthy balance in the marketplace.
There are many options on the web to expose your vacation rental. Many begin by using their social networking connections to expose their rental to family and friends (be forewarned, they will be asking for a stay discounted or gratis). Others may consider sites including Vacation Rental by Owner which due to its ever increasing volume is cluttered and confusing.
At TheSociety.com we have been most proactive concerning marketing via the Internet. Our newest product, The Global Bundle has received tremendous response. The Bundle offers vacation homeowners the option to target specific audiences from deluxe and luxury vacationers to those residing in feeder markets to your destination. With exposure options including LuxuryRealEstate.com, WSJ Online, HomeAway.com, LuxuryTravelMagazine.com and other sites, you can opt for the full Bundle or consider an a’la carte package. No matter what options are chosen, we guarantee excellent exposure and all requests are routed to you directly for you to screen, review and respond to.
“Before the Global Bundle I had my beach house in the Hamptons listed by local brokers advising they had the lock on the market for vacation rentals. After a dismal season, I opted for the Global Bundle. Within 48 hours, I had received multiple rental requests and the first booking paid for the Global Bundle+”. East Hampton, New York
TheSociety.com is well respected for their “white papers” concerning the many challenges in today’s marketplace concerning the marketing, promotion and recognition of luxury vacation rental homes and resorts. While many entities have embraced the “discounting mantra”, we do not agree with this.
According to Michael McFadden, Co-Founder of TheSociety.com: “The pie {supply} has gotten bigger yet demand remains stagnant i.e. vacationers are on a diet. Once an entity embraces the discounting manta, two issues arise, a potential loss of prestige and the inability to raise rates when demand returns.”
Our newest White Paper “Do Not Let Your Winter Bookings Hibernate” offers an overview of the present marketplace, future forecasts and most importantly 12 marketing ideas to increase your REVPAR and procure a loyal clientele.
Please e-mail us with your contact information at info@thesociety.com if you would like to be notified when the white paper is released. Please place “white paper” in RE line.
Last week, The Society Co-Founder Michael McFadden and Account Executive Therese Lewis attended the 14th Annual Luxury Real Estate Fall Conference held at the exclusive Ritz-Carlton Bachelor Gulch in the Vail Valley of Colorado.
Attendees of the conference, while concerned about the present challenges of the luxury real estate market, continued to express enthusiasm as luxury real estate is always in demand no matter the market conditions. For many, luxury is an aspiration, for those who have become accustomed to the deluxe lifestyle, downgrading is not an option.
While recent media reports may suggest the luxury market has “fallen off a cliff”, attendees suggested the media hype may be due to select high-profile properties not selling due to their inflated price based on conditions of the bull-market circa 2007. Properties from primary residences to vacation homes are selling when priced correctly for today’s market conditions.
Rental of luxury homes and estates continues to increase. For prospective buyers, the opportunity to “try before you buy” as become an attractive alternative to the hyper-inflated market of multiple contracts above asking price just a few years back. Buyers are able to take their time to assess their purchases in a pressure-free environment and in many instances, usually with a vacation home, to “rent before they purchase”.
For sellers, while the market has become more challenging, the luxury buyers are out there and are ready, willing and able. Many prospective buyers are sitting on the sidelines or using the present economic conditions to pick and choose the most appropriate luxury property for their needs and desires, both immediate and for the future. Sellers in the luxury arena while concerned about news reports also are aware the luxury buyer can be a “cash-buyer” and not beholden to the whims of mortgage brokers, suppliers and appraisers.
From the prospective of The Society, we see the overall luxury marketplace moving towards equilibrium. Markets which gain 20% on annum over 5 years is not a sustainable market. Corrections happen and lead to new opportunities for capital investment and appreciation. Many luxury homeowners are considering “vacation rental” as an option to provide cash-flow for their under-utilized vacation residences. Many of our newest Global Bundle affiliates are such owners. As one broker attendee mentioned in passing “Even Sir Richard Branson makes his Necker Island property available for vacation rental”.
Aspen has a plethora of events coming up in August. Take a look below. If you need any help finding a vacation rental or resort home check out our luxury rentals in Aspen.
While a $99 rate may seem attractive, when comparing “apples to apples” the vacation home rental is usually the true value proposition when considering the following:
Many are intrigued with the $99/night rooms being offered by many hotels and resorts. Trust us, we at The Society have noticed the advertisements and we are intrigued as well. We know $99/night is a bargain for many to have access to a small hotel room, double occupancy with an over-priced mini-bar.
Multiple Rooms: A three (3) bedroom vacation rental will sleep 6-8 persons in expansive comfort usually including 2-4 bathrooms. In hotel terms, this would translate to 3-4 rooms.
Living Room/Dining Room/Game-Entertainment Rooms: Hey, we love hotel and resort public spaces, especially having to get fully dressed to enjoy a cup of coffee or an evening night cap. Even better, dressing for breakfast or waiting in-line for the privilege to dine at the on-site restaurant. Sometimes dining al fresco in your polo shirt and shorts in your private deck is a vacation in itself.
Kitchen Facilities: Even a small kitchen provides access to groceries and snacks anytime. Breakfast in the morning, afternoon snacks, popcorn for the home theater? All available from your private kitchen? No room service, no gratuities, it all adds to cost-savings.
Private Space: From the private hot tub to the lounge chairs on the beach, it is your space. No sharing or reserving chairs by the pool. No opening and closing hours on the amenities, they are yours to use as you wish.
Concierge Service: While hotels may have a concierge on staff, the vast majority of our management partners provide concierge services based on years of experience and relationship building. Grocery delivery, private guides, dinner reservations, concert tickets, spa services, your wishes will be facilitated.
So, is the $99/rate still the value proposition? You decide and call us if you have any questions. Travel Agents, please note, we are here to assist you and your clients as well.
The Society.com has commissioned several reports and articles to assist our property management firms, vacation homes owners, estate representatives and vacation rental partners to navigate through the challenges facing those in the hospitality, tourism and vacation home rental industries. The first of several publications is entitled “Salvage the Summer Rental Season and Beyond” and written by Joseph Sobin, CTC/CTIE.
INTRODUCTION
As we enter the prime vacation season of the year, all of us in the transient lodging industry are concerned about present and future bookings. The downturn in bookings and subsequent decrease in RevPAR (revenue per available room) has not been seen since the immediate months following the attacks of September 11, 2001. While the attacks of 9/11 sent a chill into the hospitality industry, the rebound was spectacular as business and leisure travel increased in line with the expanding economy. Hotels and resorts were generating record revenues. The sale of 95% of Four Seasons Hotels Inc, a management firm for $3.8 Billion to Bill Gates and Saudi Prince Prince Al-Waleed bin Talal was the symbolic crescendo of the marketplace.
The first signs of trouble for the hospitality industry started during the summer of 2008 with record high prices for commodities across the board from oil (fueling cars and planes) to corn (increasing the cost of basic food staples). Followed by the collapse of Lehman Brothers and the questionable fiscal health of large money-center banks, the world entered a deep recession, the worst since the worldwide depression of the 1930’s.
Yet, all hope is not lost. Hotels and resorts have been cutting room rates to attract business (both leisure and corporate). With commodity prices stabilizing and the belief the worst of the economic downturn is behind us, there is a glimmer of hope on the horizon. The following article looks at the changing zeitgeist of the vacation culture. A movement towards “last-minute bookings”, a renewed interest in travel to relax and enrich, the desire for quality time with family and friends, a shift in attitude from materialistic boasting to value orientation. Of particular interest, the growing popularity of vacation home rentals.
To download the entire 9 page report including 16 tips to salvage your summer rentals, submit your information below. Once you’ve submitted your information the page will refresh and a link to the pdf will appear where the form was.
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We hear the same comment about once a week “We are looking for an unspoiled getaway. We want the Caribbean and Mexico as it was before the high-rises and all-inclusive resorts dotted the landscape. We want the unique yet with all the luxuries intact.” We suggest a few opportunities “south of the border….of Mexico”.
Once the domain of tweens and teens, 
As we enter the prime vacation season of the year, all of us in the transient lodging industry are concerned about present and future bookings. The downturn in bookings and subsequent decrease in RevPAR (revenue per available room) has not been seen since the immediate months following the attacks of September 11, 2001. While the attacks of 9/11 sent a chill into the hospitality industry, the rebound was spectacular as business and leisure travel increased in line with the expanding economy. Hotels and resorts were generating record revenues. The sale of 95% of Four Seasons Hotels Inc, a management firm for $3.8 Billion to Bill Gates and Saudi Prince Prince Al-Waleed bin Talal was the symbolic crescendo of the marketplace.