Marriott International stepped into the vacation rental business in 2019 with Homes & Villas by Marriott International. Just like everything else associated with the brand the vacation rentals they list too are luxury properties. And like every other OTA they do not own these properties and work with property managers who manage these luxury properties to meet the required criteria in order to be able to list with them. If you are thinking about listing your luxury vacation rental properties with an OTA read on to find out the benefits of Marriott Bonvoy members for property managers. We hope this article will tip the scales towards Homes & Villas by Marriott International.
For vacation rental managers, the primary benefit of listing homes on Homes & Villas by Marriott International includes the ability to reach Marriott’s 145 million members of its Marriott Bonvoy travel partners. Plus, Bonvoy members can earn loyalty points by making a booking and use loyalty points to book properties. Joining the platform has also proved to be appealing to homeowners, and property managers report a higher quality of guests booking through the site than through the other third-party channels they use.
Fun fact: One Bonvoy Loyalty member redeemed nearly 11 million points for a three-week stay at a vacation rental in Lake Tahoe.
As mentioned before Homes & Villas by Marriott International stays true to its mother brand by listing only luxury properties. Since the visitors to the brands’ websites are mostly affluent travelers and high spenders you will be able to list your property at a higher rate than at other sites.
When the program launched, it had 2,000 homes in 100 destinations, a tiny footprint compared to the 5 million listings across nearly 200 countries available through Airbnb. But, the program is growing quickly and already has more than 30,000 properties — a 15-fold increase. While that is impressive growth, it’s still a smaller platform that focuses on more luxurious rentals that is continuing to grow.
From May through December 2020, bookings were up more than 500 percent versus the same time period in 2019. This tells me we must continue growing in markets that matter most to members of Marriott Bonvoy, which account for more than 90 percent of our bookings.
Marriott is continuously evolving through market research and looking to establish its presence in highly sought-after markets including Asia. This is one of the main reasons they continue to work with existing property managers and are looking for more who can help add inventory to the hottest vacation rental markets throughout the world. So if you are located in a tourist hotspot nothing should stop you from approaching them
When you list with Marriott you are permitted to list your properties through other online travel agencies such as Airbnb, Booking.com, and Vrbo. However, Homes & Villas bars properties from signing deals with competitors such as Hilton and Hyatt - which is believed to be on the cusp of launching a rival vacation rental service.
Under the standard contract, Homes & Villas takes 15 percent commissions on the most common type of stays — those where the nightly rate is less than $2,000 — and the commission rates fall to 10 percent on bookings with nightly rates of $5,000 or more. Commissions, or take rates, of around 15 percent are fairly standard among the big players in the short-term rental industry, although the precise amount can vary by property, geography, or timing.
Listing your luxury property on Homes & Villas by Marriott International can open you up to an affluent clientele whose high spending capacity will allow you to list your property at a higher price than you can at other OTAs. And these travelers (more than 145 million of them) will be motivated by being able to earn and spend loyalty points at your property In addition to that you can also list on selected third-party OTAs such as Airbnb and Vrbo. If you are a property manager who would like to list your properties on Homes and Villas by Marriott International, fill out this form. Are you looking to expand your short-term rental business? Check out Hostaway, we have partnered up with Homes & Villas by Marriott International you can now list with them through us. Want to know how we help property managers around the world with their business? Request a free demo.