Our Rise and Shine: The Vacation Breakfast Series finished up its latest stop in the Outer Banks of North Carolina in this week! Catch up on what you may have missed with these key takeaways from the presentations.
Outer Banks Market Trends
Our experts unpacked travel and booking data for the Outer Banks market in 2024, showcasing areas of potential for these coastal vacation rental managers. We covered the drivers for overall market performance, booking window trends, length of stay, and trends for 2025.
We found that for this region:
- The average Adjusted Paid Occupancy was 41%
- The average Daily Rate was $512
- The average Revenue per Unit was $50,226
For property managers in the Outer Banks,
- 50% of property managers saw an increase in occupancy compared to 2023
- 64% of property managers saw an increase in ADR from 2023
- 59% of property managers saw an increase in revenue/unit from 2023
For those looking to capitalize on market trends in 2025, focus on revenue management, homeowner acquisition, and guest experience. These will be key areas of growth in 2025.
Outer Banks Top Guest Markets
One of the top guest markets for this region is the Washington DC/VA/MD area, which was heavily impacted by the recent government layoffs.
These guests account for 10.4% of bookings and 11.9% of rent for the Outer Banks market and coincide with the areas most affected by the layoffs, making it worth considering how to tailor guest communication and strategy for these travelers.
Best Strategies for Homeowner Acquisition in Property Management
We shared tried-and-true strategies for growing your inventory by building a strong portfolio of homeowners, covering the entire acquisition journey—from identifying valuable leads and increasing exposure to successfully converting and closing deals. Each phase included six highly effective tactics to move leads further down the pipeline:
- Absentee owner email marketing
- Snail mail marketing
- SEO
- Paid search management
- Agent networking
- Current guest email sequencing
Proven Methods to Increase and Manage Bookings
For vacation rental managers focused on growth, more bookings are always the goal. We explored how rental insurance can enhance your service offerings, giving travelers the confidence to book while also generating an additional revenue stream for your business.
Additionally, we broke down the essentials of channel management, outlining the most effective ways to boost property visibility across key OTAs.
Maximizing Profitability in Property Management
More revenue doesn’t have to mean more complexity. We shared simple yet powerful strategies to increase profits with minimal effort, including:
- High-ticket offerings
- Upsells like travel insurance
- Add-ons such as early check-ins and late check-outs
- Website enhancements
- Smart automations
We also emphasized the importance of accurate trust accounting, data-driven revenue management, and the best tools to optimize these processes.
AI’s Impact on the Vacation Rental Industry
Understanding AI’s role in vacation rentals is more important than ever.
Key takeaways:
- AI streamlines operations, reduces costs, and improves decision-making
- AI-powered tools can enhance owner acquisition, pricing strategies, and bookings
- Automated guest support is on the rise, offering increased efficiency and reliability
Want to be a part of the conversation?