As short-term rental industry grows, so does use of management tech | PhocusWire - 0 views
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The private accommodation space continues to grow around the world,
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In tandem with that growth in booking volume and in the numbers of properties is the increased development of technologies to support this industry.
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As the vacation and short-term rental industry continues to mature and competition heightens, property managers are becoming increasingly driven to improve their use of technology and are adopting more and more software solutions to help them stay ahead of the game.
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property management systems are the most widely-adopted software solution in this sector, with 81% of respondents using a PMS to manage day-to-day operations. Most of those (66%) are using a third-party PMS, while 15% have built the tech in-house.
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"It’s now commonplace for professional property managers to automate certain operations, distribution, marketing, revenue management, guest communication and other tasks.”
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“This report does underline our understanding that the winning models of the future technology providers will work similarly to SaaS platforms by providing enterprise-level, open-source platforms allowing developers to contribute to the code which will in turn increase the investment and the growth of the industry.”
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The short-term rental industry is growing rapidly. What follows is a higher requirement for PMS. At present, PMS is still the most used software solution. However, due to the continuous development of the short-term rental industry in the future, users have new requirements for more flexible functions of PMS.