RedAwning Announces Industry Leading Short Term Rental Performance Results, 24% Ahead of the Industry
RedAwning Participating Hosts beat AirDNA estimates by 24% on Average, and RedAwning ADR Growth and Revenue Growth Per Property exceeded Industry Average results in 18 of its top 20 destinations
Emeryville, Aug. 24, 2021 (GLOBE NEWSWIRE) — RedAwning, the only complete marketing, distribution, reservations, and hospitality meta platform for short term rentals, today announced industry leading mid-year performance results for the first half of 2021. RedAwning participating Vacation rental hosts in RedAwning’s top 20 destinations, both property owners and managers, are outperforming AirDNA earnings estimates for those destinations by 24% on average. Also, RedAwning ADR and Revenue Growth rates exceeded the industry in 18 of RedAwning’s top 20 destinations.
AirDNA features a “Rentalizer” on its website that allows property owners to get estimates on the potential earnings for their vacation rental properties. The estimates, which are based on comparable rental properties, seasonal trends, and occupancy projections, have become an industry standard. According to RedAwning’s first half 2021 results, RedAwning’s hosts in its top 20 destinations saw average revenue rise 165% over 2020, outpacing most everyone else in the industry.
RedAwning’s top ADR growth destinations, Pigeon Forge, TN and Vail, CO, outperformed the comparable AirDNA ADR growth averages by 133% and 113%, respectively. RedAwning’s ski destinations all had a healthy first half, and the shoulder seasons performed well too. RedAwning’s beach markets were also ahead of AirDNA estimates.
“Our unique one-contract, every-channel approach is paying off for our hosts in a big way,” said RedAwning’s CEO, Tim Choate. “AirDNA’s estimates fairly reflect the industry’s overall performance of all hosts and property managers. Our meta-platform ensures that our hosts’ listings are seen everywhere people shop for travel, and in ways that are uniquely optimized by channel from our decade of testing. This more comprehensive and sophisticated approach to distribution yields stellar results for our hosts. Those who also participate in our dynamic pricing solution have performed even better.”
Earlier this year, RedAwning introduced its Lightning Launch solution for new hosts that featured unique new listing performance opportunities optimized to each channel, including Premier Host status for all listings on Vrbo, keeping Superhost Status on Airbnb, the Vrbo Fast Start Program, positive review history sharing, Airbnb New Listing Promotion, New Listing Tagging, Targeted Member Rates on Expedia, along with Mobile rates on Booking.com. This combination of approaches to rapid booking success for new hosts, and ongoing optimization and promotion for the existing base, have all contributed to hosts’ noteworthy performance during the first half of 2021.
“RedAwning has leveraged the strength of its distribution partnerships to create unique marketing and hospitality services that yield industry-leading results for vacation rental homeowners and property managers across the country,” said Susan Fobes, Director of Business Development at RedAwning.
To learn more about RedAwning’s industry-leading hospitality and reservations platform, visit www.redawning.com/list.
To browse and book the RedAwning Collection, visit www.redawning.com.
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About RedAwning
RedAwning is the short-term rental industry’s only complete marketing, distribution, reservations, and hospitality meta platform. RedAwning presents one of the world’s largest collections of vacation properties to guests wherever they shop for travel. With over 20,000 properties represented on behalf of thousands of independent and professional hosts, RedAwning covers virtually every leisure destination in North America, and includes a comprehensive layer of exclusive services and support with every stay. RedAwning is one of the largest single U.S. vacation rental suppliers to every major travel website, including Booking.com, Expedia, Vrbo, Airbnb, and Google Travel. RedAwning also operates exclusive vacation property booking websites, including RedAwning.com for travelers, and RedAwning TravelPro, which enables 20,000 travel agents to book vacation properties.
RedAwning has been a leading innovator in the vacation rental industry since 2010, with a mission to redefine the customer journey for the benefit of guests, hosts, and property managers alike, and to drive new approaches that make the booking and staying experience at short term rental properties more consistent, easier, safer, and better for all.
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CONTACT: Johnathan Robinson RedAwning.com Inc. 9253029593 johnathan@redawning.com
