Disappointing news this week about vacation rentals’ performance on Expedia. Here’s the kicker to the whole story, “I think vacation rentals are an important market,” Expedia Inc. CEO Dara Khosrowshahi told financial analysts during the company’s first quarter of 2015 earnings call last week. “It’s an important product in many, many markets. As to whether it’s important for Expedia to be in, that remains to be determined.”
Some of this is just growing pains for our industry, and some of this is failure to find that middle ground that will allow the square peg to fit into the round hole. Expedia wants quite a bit of control over the inventory, pricing and payments for vacation rentals (like they have with hotels) and many vacation rental companies can’t give up that much control. Particularly with a 15%-20% commission attached.
Everyone involved has their work cut out for them. Ultimately it has to be easy for the guests to book, lucrative enough for Expedia to make the right investment, and allow the vacation rentals companies (or owners) to continue to provide the personal touch that makes vacation rentals unique.
Did you survive “Mobilegeddon“? If your website isn’t mobile friendly, then you likely suffered in your Google search rankings as of April 21st.
Even if you still get the majority of your bookings over the phone or e-mail, 20% of searches are done on a mobile device, and it was recently reported that 25% of all digital transactions in the US were generated from a mobile device.
Speaking of mobile transactions, I have often said that virtual wallets and online currency are going to become the norm in the not too distant future. So it was interesting to read that Google Wallet funds are now FDIC insured.
There is still a ways to go before this becomes mainstream, but the writing is on the wall. Here’s something to think about; will your business be ready when this becomes the preferred method of payment?
The airlines are trying to be the first to integrate mobile payments into their guest experience. Here’s an article on how a few of them are making this happen. JetBlue will let you make in-flight purchases through their app on your iOS device ,and KLM is experimenting with booking flights on Facebook and Twitter.
Lots of change coming. Are you ready for it?
Until next week…
(PS – Sign up for the Newsletter in the sidebar and these News segments will be delivered to your inbox. You won’t get spammed with junk and sales pitches. Promise!)