LONDON, March 22, 2017 /PRNewswire/ -- Rentivo Exceeds Crowdfunding Target by 36%
Vacation Rental marketing/management platform to disrupt home sharing model.
Rentivo (rentivo.com), a vacation rental marketing/management software company, today announced it has successfully oversubscribed its CrowdCube.com crowdfunding campaign, raising £341K/$425K and exceeding its goal by 36%. The funds will be used to accelerate technology development, sales and marketing.
With the exponential growth in the home sharing economy and millions of property listings worldwide, it has become increasingly challenging for vacation rental owners and property managers to stand out from the crowd and attract new and repeat guests," said Richard Vaughton, Rentivo co-founder and CEO.
As such, existing revenue streams and businesses are at stake. "Our crowdfunding success underscores the need for new ways for vacation rental property owners and managers to secure direct bookings and take more control over revenue generation instead of relying solely on Online Travel Agencies, such as Airbnb, HomeAway and TripAdvisor, for business."
Direct bookings also help alleviate the financial squeeze felt by property providers and guests from OTA commissions and service fees, respectively. Currently, these fees can be in excess of 20% for hosts and as high as 12% for guests, who are often completely unaware of these charges.
Rentivo, which has been serving the vacation rental market since 2013 and features a guest-centric, collaborative business model that supports the mutual interests of groups of property managers, has an estimated 300% growth rate in 2017.
The company is privately owned, self-funded, debt free and holds all IP rights. The launch of its web builder and interest from collaborative and niche listing sites have accelerated growth. Additionally, Rentivo's guest re-marketing products and payment systems will see increased traction and revenue streams in 2017.
Chris Atkinson, the CTO and co-founder says that, "Homeowners and managers are hoping to improve their bottom line and business controls, which cannot happen if OTA's solely, manage the booking flow and guest experience."
Rentivo is a business-to-business (b2b) technology company that builds online marketing and management platforms for the vacation rental industry.
Rentivo's software lets vacation rental managers with multi-property portfolios easily expand their reach beyond popular listing sites (such as Airbnb, HomeAway/VRBO, FlipKey, etc.) and generate direct bookings from guests while improving operating efficiencies of the portfolio, as well as individual properties.
The result: more management/marketing control and revenues for vacation rental property managers and owners along with enhanced customer experiences for guests.
Rentivo delivers a comprehensive 'Swiss army knife' tool set but has also entered the collaborative management software business, where guests interact directly with managers. Rentivo has also launched a rental news channel, smarthosts.org, to centralize the latest industry news and create a forum for discussion and commentary.
Although "software as a service" (SaaS) tools are an extremely important part of the future of rentals to create efficiency's and streamline business, the whole picture includes powerful marketplaces, strong technology partnerships and directly connecting inventory management to guests in an open manner with robust data management systems.
The technology allows for collaboration/data sharing between property managers to build niche marketing platforms that eventually will develop into new listing sites.
Guests expect friction-less, secure online experiences and choice, but also expect open pre-booking communications, keen pricing and value service. Rentivo is positioning itself to blend direct business with large marketplace "top ups" in some niche sectors.
Company website: www.rentivo.com
Media Contact: Paula Harvan
Phone: +44 (0) 779 499 6414
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