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    Slick Talk: The Hospitality Podcast

    Rethinking the Approach of Direct Bookings & Loyalty

    Wed Jun 14 2023
    Short-term rentalsUnique staysDirect bookingsGuest data ownershipUser experienceTrust

    Description

    This episode explores the world of short-term rentals and unique stays. It delves into the desires of travelers who seek incredible homes, the experiences of hosts in the vacation rental space, and the challenges and opportunities in connecting travelers with unique stays. The episode also discusses the importance of direct bookings, guest data ownership, and improving user experience and trust in the industry. The guest shares their personal journey and future plans, while listeners are encouraged to connect with them and subscribe to the podcast.

    Insights

    Shift towards Boutique Experiences

    There is a growing demand for boutique memorable experiences over big box names in the travel industry. Boutique operators are becoming popular among millennial travelers who seek unique and memorable stays.

    Connecting Travelers with Unique Stays

    There is a need for tools that help hosts meet demand when cancellations occur. Creating a social network where travelers can follow incredible homes and get notified when they become available can be a solution. Hosts could potentially offer meaningful discounts on available stays by accessing more data about travelers.

    Challenges and Opportunities in Direct Bookings

    Booking direct requires work, such as creating a website, PMS, and marketing strategies. However, slowly building a brand and taking small steps towards direct bookings can be more effective than aiming for immediate success.

    Improving User Experience and Trust

    The user experience and design of OTAs need improvement to compete with Airbnb. Trust is crucial when dealing with money and travel, and prioritizing simplicity and good design should be an industry focus.

    Chapters

    1. Introduction
    2. Exploring Short-Term Rentals
    3. Shift Towards Boutique Experiences
    4. Connecting Travelers with Unique Stays
    5. Meeting Demand for Unique Stays
    6. Direct Bookings and Guest Data Ownership
    7. Challenges and Opportunities in Direct Bookings
    8. Improving User Experience and Trust
    9. Guest's Journey and Conclusion
    Summary
    Transcript

    Introduction

    00:00 - 06:39

    • Travelers who like to stay in nice places and have flexibility with work are interested in following incredible homes around the world.
    • They want to be notified when these homes become available and receive meaningful discounts if they book within a certain timeframe.
    • Nathan from Minute discusses the biggest misunderstanding about their noise feature, which is that it does more than just notify guests of noise.
    • With their Pro account, Minute can import guest data and automate communication with guests regarding noise events.
    • Sending automated messages to guests about noise often resolves the issue without any input from the host.
    • Zach Buzakruz, host of Behind the Stays podcast, shares his journey into short-term rentals and hospitality during COVID-19.
    • He and his wife lived exclusively on Airbnb for 15 months, meeting remarkable hosts along the way.
    • Zach realized there was something special about the vacation rental space and wanted to learn more about it.

    Exploring Short-Term Rentals

    06:26 - 12:42

    • Curiosity has been a driving force in Zach's life, leading him to explore various interests.
    • Zach was always interested in media and storytelling, wanting to use stories to influence people and broaden their horizons.
    • Zach and the podcast host share a curiosity about people and their stories.
    • Through over a hundred interviews on his show, Zach has learned that some short-term rental operators prefer not to be referred to as Airbnb hosts.
    • The term 'vacation rental' is not commonly used by consumers, who are more familiar with the term Airbnb.
    • Airbnb has a wider reach than other terms related to vacation rentals when it comes to online searches.
    • Boutique operators are becoming popular among millennial travelers who seek unique and memorable experiences rather than staying at big chain hotels.

    Shift Towards Boutique Experiences

    12:12 - 18:34

    • There is a shift towards desiring boutique memorable experiences over big box names in the travel industry.
    • Operators have an emotional connection to their work and travelers find these unique places special.
    • Owning a hotel or restaurant has become easier with lower barriers to entry.
    • The podcast host discusses last minute deals and SEO strategies for finding accommodations.
    • The creation of the Sponstanias newsletter was inspired by finding remarkable deals on Airbnb.
    • Sponstanias started as a simple newsletter sharing beautiful and discounted Airbnb listings.
    • Sponstanias now has multiple newsletters covering different regions around the world.

    Connecting Travelers with Unique Stays

    18:05 - 24:23

    • The podcast guest used to scroll through Airbnb to find listings.
    • They have become more sophisticated since then.
    • Sam Parr, a legend in the media space, discovered their group chat turned newsletter.
    • The timing of their success was well executed.
    • They had previously used Sam Parr's tactics on him.
    • Their growth rate has slowed due to changes in remote work opportunities.
    • They are still in the early stages of figuring out monetization and learning about the hospitality industry.
    • They want to connect unique short-term rentals with flexible travelers through Behind the Stays audience.

    Meeting Demand for Unique Stays

    23:53 - 30:13

    • Behind the Stays has cultivated an audience of people with unique stays, such as tree houses and domes, who have Instagram accounts with hundreds of thousands of followers.
    • The podcast audience consists mostly of newer hosts who came from outside the industry and are interested in creating unique experiences.
    • Hosts typically don't struggle with availability but may have a few nights in the middle of the week or last-minute cancellations.
    • There is a need for tools to help hosts meet demand when cancellations occur.
    • The idea is to create a social network where travelers can follow incredible homes and get notified when they become available.
    • Hosts could potentially access more data about travelers, such as email addresses, to offer meaningful discounts on available stays.
    • Whimsdale is an example of an OTA that focuses on basic last-minute stays, but there may be an opportunity to focus on higher-end, truly unique stays.
    • The challenge lies in serving these unique opportunities when property styles and operations are fragmented across different platforms and tech solutions.

    Direct Bookings and Guest Data Ownership

    29:50 - 35:36

    • Many people in the vacation rental industry are not fully utilizing the capabilities of their property management systems (PMS).
    • Building another online travel agency (OTA) is not a viable option for the speaker, as it requires significant capital and market validation.
    • The speaker's company serves as a marketing channel for hosts, driving traffic to their websites or booking engines.
    • Despite this, many hosts still redirect the traffic back to Airbnb due to the poor quality of their own direct booking sites or engines.
    • The speaker aims to connect travelers looking for last-minute deals with unique stays offered by hosts through direct booking sites.
    • By meeting the audience where they are (Airbnb), the speaker hopes to introduce them to alternative options and save them money.
    • This approach allows the speaker's company to retain ownership of guest data outside of Airbnb.

    Challenges and Opportunities in Direct Bookings

    35:18 - 40:56

    • Property owners and brands still own the data of their guests outside of the platform.
    • A feature allows hosts to access the email addresses of guests who wish list or like their stays.
    • Some projects prioritize quantity and growth over direct bookings.
    • Booking direct requires a lot of work, such as creating a website, PMS, and marketing strategies.
    • Booking through Airbnb is easier for guests due to convenience and security concerns with direct booking platforms.
    • Slowly building a brand and taking small steps towards direct bookings can be more effective than aiming for immediate success.

    Improving User Experience and Trust

    40:27 - 46:01

    • Booking direct can be sketchy and insecure.
    • The user experience and design of OTAs need improvement.
    • Trust is important when dealing with money and travel.
    • Airbnb sets a high standard for trust and design.
    • Competing on design and user experience is crucial for success.
    • Bullying tech companies to improve their UX is necessary.
    • Prioritizing simplicity and good design should be industry focus.

    Guest's Journey and Conclusion

    45:45 - 49:16

    • The guest left home at 16 and moved across the country to the east coast.
    • The move changed their entire life trajectory.
    • They are thankful for their parents' support in making the move.
    • Leaving Hawaii was the best decision they ever made.
    • They plan to do a part two of this episode in person.
    • The guest can be reached on Twitter with handle @Zboozy and on LinkedIn with name Zachary Busy Cruz.
    • The host appreciates the guest's contribution and looks forward to future collaborations.
    • Listeners are encouraged to connect with the guest and subscribe to the podcast.
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