Wyndham Destination Network has positioned itself as the largest property management company in vacation rentals, and is now using its size to optimize performance by rolling out company-wide yield management and cross-selling abilities.
Last week we launched the latest report in our Skift Research Reports service, The State of the Global Vacation Rental Market 2017.
In this research report we dive into the vacation rental industry and explore what role technology has played in its growth. Larger companies have been able to leverage technology alongside mergers and acquisitions to build giant companies, compared to the traditional size of vacation rental companies.
Below is an excerpt from our Skift Research Report. Get the full report here to stay ahead of this trend.
With 112,000 properties in their inventory, Wyndham is by far the largest property management company in the industry, working with 64,000 homeowners directly. Wyndham Destination Network, the vacation rental and vacation exchange segment of the company, represents roughly a third of the overall company’s revenues.
The three segments of the company are:
- The Hotel Group, made up of franchises, management contracts, and owned hotels.
- The Destination Network comprises Wyndham’s vacation rental segment, although it also includes two timeshare exchange programs, RCI and The Registry Collection.
- Wyndham’s Vacation Ownership segment, which makes up almost half of total revenues, develops and acquires resorts throughout the Americas. “Wyndham Vacation Ownership develops, markets, and sells vacation ownership interests and provides consumer financing to owners.”
Wyndham has been constantly growing their inventory through acquisitions around the globe. In 2016 they acquired Friendly Rentals, Dayz Resorts, and German Airbnb rival Wimdu, which was approved in early 2017 by the German Cartel Office.
Wyndham Vacation Rentals UK includes the following brands:
- Hoseasons, acquired in 2010, with a total inventory of 20,000 listings
- James Villas, acquired in 2010, with a total inventory of 2,500 villas
- Blue Chip Holidays, acquired in 2016, with a total of 1,100 properties
Wyndham Vacation Rentals North America includes the following brands:
- Resort Quest
- Local brands such as: The Resort Company, Caribe Cove, Bahama Bay, Smoky Mountain Property Management, Oceana Resorts, Vacation Palm Springs, and Kaiser Realty
Novasol was acquired in 2002. Today it has a total of 43,000 listings for rent and includes:
Landal GreenParks was acquired in 2004 and has a total of 12,000 listings for rent.
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Photo credit: Wyndham has amassed brands and inventory across the world as it has become the largest property vacation management company in the world. Wyndham Vacation Rentals