When has accepting the status quo ever been known to produce exceptional results?
The honest answer is never.
Much like the evolution in sports at a world-class level, the best in the world must continuously improve, elevate their own standards of practice, and even invent new techniques in order to stay ahead of the competition.
The brutal truth about the luxury vacation rental industry’s current state of affairs is that it is rife with broken management models, which are just presented in a nicer, shiner package. And the amount of wasted potential is unfathomable. Worst of all, it sets a really low bar for what constitutes success.
From the most established local managers and agencies, to the heavily funded media darlings typically praised for their rapid growth, most managers in the luxury segment generate very low revenues on a per property basis. $100M in bookings isn’t very impressive when there are over 2,500+ properties in the portfolio — it’s only $40k per property…
Even when they offer stories or case studies about their top-performing properties earning 6-figures in rental income, it’s usually just an exception, not the rule.
So f*ck the status quo. It’s a losing strategy.
VRP’s model is an evolved, less complicated, and much more effective method of managing luxury vacation rentals, that we’ve been innovating and perfecting since our firm’s inception.
We don’t care about what ‘everyone else’ is doing. We only care about competing in the top 1% of highest-grossing properties within our market segments.
Our strategy is simple.
First, we compile as much data as possible on a designated compset in our market segment, for ongoing future monitoring.
Second, we build individualized strategies that will position the asset to quickly penetrate the top 1% of our market segment.
Third, we continuously optimize performance in order to outpace growth from our competition.
The end result? It’s ultimately what makes the difference between losing money every year, barely breaking even at $150k/yr, and generating north of $750,000+ per year in gross annual bookings.