The company specializing in vacation home rentals in Europe places state-of-the-art technology at the center of its strategy.
Increasing self-management capacity, offering more flexibility and simplifying processes are key elements in the satisfaction of owners and guests.
Madrid, March 9th, 2021. The development of the pandemic has accelerated the transformation of travelers’ habits and expectations in terms of flexibility, accessibility and use of technology. Belvilla, an expert company in vacation home rentals in Europe, presents the first steps of its renewed technological proposal to qualitatively improve the experience of owners and travelers.
Since 2019, Belvilla is part of OYO Vacation Homes (OVH), a company with more than 140,000 homes, ranked #2 worldwide by RentalsUnited and where technology is a fundamental part of its DNA. Thanks to OVH, Belvilla has access to this knowledge and makes available to its users all the technological resources of an international leader.
Vacation home owner: towards greater digital self-management
For just over a month now, vacation home owners have been able to register and incorporate their properties into the platform that Belvilla offers on its website. This is a novelty that makes the company a pioneer in the segment of full-service vacation home managers. Images, availability and the signing of the contract are elements that can now be managed digitally. In this time, more than 5% of owners have used this tool and Belvilla expects to reach 100% adoption in the coming months.
The new MyBelvilla, a tool designed for the use of owners is available on web portal and app. This platform offers a calendar with real-time bookings, details of each stay from the different booking sources, details on payments and invoices as well as certain conclusions on the performance obtained. With 94% of users active on this platform, MyBelvilla has become an essential tool in their rental experience. In fact, 80% of users acknowledge that it is very useful.
Moreover, according to the company’s surveys, 65% of collaborating owners confirm that they are satisfied with the number of bookings achieved and 72% with the invoice and payment process. They also give an NPS score of 8 on a scale of 10.
Dynamic pricing, a key factor
Thanks to OVH’s acquisition of Danamica, a Danish company specializing in data science, in 2019, Belvilla and its collaborating owners benefit from experienced dynamic pricing management aimed at achieving the highest possible occupancy rate with maximum revenue for the owner. This is the result of an efficient combination of historical data, internet searches, market and competitor data, analytics and artificial intelligence, able to respond to a changing situation and demand.
In the first two months of 2020 (pre-covid), dynamically priced homes averaged 11% more revenue than homes without dynamic pricing. In April and May, months hit hard by the coronavirus crisis, revenues of these dynamically priced homes were even 17% higher.
Betting tech on the guest
In the last year, Belvilla has completely revamped its website, both operationally and in terms of image, which has led to an improvement in conversion, with a 50% increase. The user finds an interface that makes it easier to search for homes and obtain information. Large, high-quality images, clear content and easier navigation within each of its sections.
“In this evolution process, we have paid special attention to offer the content in a clearer way and ensure transparency in everything that has to do with booking policies. In addition, in the coming months we will be announcing important new features related to our new customer referral program, use of electronic payment or a faster website.” Rahul Sahni, Chief Product Officer, OYO Vacation Homes.
With simpler connection and registration processes and a 30% faster loading time, the new version of the website includes flexible search options in terms of dates, offering availability in the days close to the selection made, and the chosen destination, also proposing houses in nearby locations. Another new feature is that users can purchase gift cards for friends and family.
Flexibility and speed of payment
In addition, the new payment system is aimed at increasing user confidence and convenience, allowing users to make payments with fewer clicks. This translates into a 94% payment success rate. The goal is to implement payment in installments in the coming months.
Technology at the service of all
The correct use of technology enables higher rates of self-management. In this regard, 90% of the owners and guests who contact the company use the web platform itself. Thus, 40% of the issues are resolved immediately, which generates a better experience and greater satisfaction. In fact, Belvilla’s goal is to encourage the adoption of this tool by up to 90% or 100% and thus be able to resolve 80% of queries immediately in the coming months.
Thanks to greater self-service capabilities, guests have the option to reschedule their trips, obtain payment and refund details, tap into all relevant documents for their booking and make any other requests. For their part, owners can resolve all their queries related to payments, upcoming bookings, calendar locking and unlocking, as well as updating property information.