Capital One Travel has introduced upscale vacation rentals in a launch Tuesday through partnerships with Boutiq and AvantStay. A CapitalOne spokesperson said the company will bring on Inspirato and Key.co as inventory providers later this year.
09.02.2024 - 20:39 / skift.com / Srividya Kalyanaraman
James Olin may be old school, but he’s no Luddite. He knows dynamic pricing and contactless services are the order of the day, but he still thinks safety and cleanliness are the most important elements of success in the short-term rental industry.
“You can use all the technology you want, but what will have people coming back is if the room is clean and smells nice.”
Olin got into vacation rentals in the late 1980s, and his major break was in 1992 when he ran Abbott Resorts. He also headed ResortQuest as its CEO from 1998 to 2004 and took it public. From there, he went on to join Sterling Resorts as the managing partner. He now runs C2G Advisors, which is an M&A consultancy for short-term rental and vacation rental businesses, as its founder and CEO.
Skift spoke to Olin to discuss his perspective on how the industry has changed in the past three decades and where he sees it going.
Below are the edited excerpts of what Olin said:
There really were two major changes that occurred in the vacation rental industry that changed everything — and Airbnb was the second one. The first one was technology. Just a good old-fashioned computer. When I started in this industry, we had some computers but we didn’t have emails. Our idea of dynamic pricing was when to start spring break each year. But we did everything by hand. And being on site with an office like a hotel was very advantageous.
It wasn’t until technology allowed someone that was five miles away to be able to book the unit and service it that way that the people on site started losing that competitive edge.
When the off-site operators came around, because technology allowed them to, you started seeing Airbnb-style private equity coming into the industry. Before that nobody knew who we were, they thought we were a timeshare — they didn’t get it, they just couldn’t figure us out.
It was a somewhat of an easy industry when I got into it back in 1989 because there was no technology and there weren’t a ton of players in the industry. Distribution was easy for us in the Florida Panhandle region because there were only four or five cities — our target was Atlanta, Birmingham, Nashville, Memphis and everything in between.
We didn’t change rates, we always discounted, and that was it. We did a lot of it with trade where we would go to radio stations and do ads. We did have a database if you want to call it that of past guests and we had a strong repeat clientele. But we did distribution and customer acquisition the old-fashioned way — we gave 25% off if they came back.
We didn’t have email blasts, so we did oversized postcards. We would have the Atlanta Braves night where we threw out the first pitch, and we hired Don Sutton as our representative for
Capital One Travel has introduced upscale vacation rentals in a launch Tuesday through partnerships with Boutiq and AvantStay. A CapitalOne spokesperson said the company will bring on Inspirato and Key.co as inventory providers later this year.
At the Skift Global Forum last year, Airbnb CEO Brian Chesky predicted hotel rates would rise in New York City as a result of Local Law 18 – which Airbnb has called a “de facto ban” on short-term rentals.
Travel advisors are invited to join ALG Vacations for an enlightening live webinar on Monday, March 4 at 2 p.m. ET.The webinar is free to attend for qualified travel professionals and includes the chance to win a free three-night stay at the award-winning all-inclusive UNICO 20°87° Hotel Riviera Maya.Moderated by Northstar Travel Group's EVP of Marketing and Partnerships, Mary Pat Sullivan, the virtual event will feature insights from Jacki Marks, Global Head of Trade Brands, as well as Mike Ehlers, Vice President, Groups, and Jim Tedesco, Vice President, Sales.The trio will break down ALG Vacations' implementation of key initiatives designed to continue driving demand for advisors by letting travelers know advisors are the only way to go.Attendees will get the latest details regarding new events, including ALGV Pros on the Go featuring two mega FAM trips in Cancun, Mexico and Punta Cana, Dominican Republic in 2024.Advisors will also learn about enhanced groups technology to make planning easier, ALGV's Amstar transformation and new product launches, including in the lucrative luxury segment.Click here to register for next month's ALG Vacations webinar.
Situated between the waters of Lake Winona to the south and the finger-like channels of the Mississippi River to the north, the city of Winona, Minnesota, is best experienced outside. And while out-of-staters might assume this dynamic changes during the winter months, nothing could be further from the truth. Visitors to and locals in Winona know the joys of bundling up, grabbing a warm beverage, and communing with the season’s outdoor wonders.
Bartlett Presbyterian Church had sat abandoned and dilapidated for decades when Jennifer Tucker found it.
This spring, a first-of-its-kind tour is kicking off in Austin, Texas at SXSW Festival, a tour designed to showcase the power of small businesses in hospitality through cinema. Using a mobile pop-up vehicle and projector, hospitality software company eviivo Collective plans to spotlight “10 of the world’s best independent properties,” on outdoor screens through eight global cities: Austin, Belfast, Canterbury, London, Dusseldorf, Amsterdam, Brussels and Belgium via the eviivo Collective 2.0 World Tour.
Hawaii may be a known destination for honeymoons and weddings. But, the Aloha State is also a fantastic getaway for solo travelers looking to connect with nature. While there’s plenty of solo adventures on the islands — surfing, snorkeling, hiking, to name a few — solo travelers to Hawaii also have their pick of group tours that could include everything from whale watching tours off the coast of Maui to ATVing on red dirt paths through Kauai’s lush green pastures.
Last May, I reserved a two-bedroom apartment in London for eight days through Booking.com, using a credit card to hold the reservation. Soon afterward, I received what looked like an official email from the company offering me a 20 percent discount and insisting I pay the host directly, in advance, via wire transfer. I sent the equivalent of $3,100 dollars to the account of a man named Nyholm Peik, which I now know was a foolish thing to do. Soon afterward, Booking emailed to tell me the property was no longer available. I got in touch with Booking and spoke with several agents about getting a refund, but they gave me the runaround, continually insisting on more documentation. Can you help?
This as-told-to essay is based on a conversation with Tiffany Chan, a 32-year-old dog owner based in Hong Kong. This essay has been edited for length and clarity. Business Insider verified Chan's receipts.
On Saturday night, a Virgin Atlantic aircraft took off from Washington, D.C.'s Dulles International Airport (IAD) at 10:45, bound for London's Heathrow Airport (LHR).
This article originally appeared in the February issue of AGENTatHOME magazine. Subscribe here to receive your free copy each month.
Enjoy a brisk walk in Lenox, MA, polar plunge into the Atlantic Ocean and warm up inside a cedar sauna in Rockaway, NY, cozy up in a minimalist cabin in the Catskills, experience a Japanese-influenced menu in the Hamptons. For those New Yorkers and East Coasters looking for a proper reset this winter without the long travel time, below five spas and wellness retreats, ideal for a long weekend getaway.