Wyndham Vacations Is Bringing Hotel-Like Pricing to Rental Homes
Despite the Big Data rhetoric in the article, Wyndham is talking about applying yield management techniques, a given in the hotel business, to its vacation rentals.
Excerpt from Wall Street Journal
Wyndham Worldwide Corp. is rolling out a pilot program that uses Big Data to dynamically set pricing across its European vacation-property rental business later this year, CFO Tom Conforti told CFO Journal. The company first used its more advanced data analytics capabilities from its exchange business in its U.K. rentals segment earlier this year, he said, and now that will spread to its other two main markets in Denmark and the Netherlands.
An executive involved with both Wyndham’s timeshare exchange business and its vacation rentals business first suggested that the company experiment with applying its data analytics to pricing the rentals, Mr. Conforti said. And so they began in the U.K., and “the payoff exceeded what we expected.”