Complex operational needs that property managers face on a daily basis – from guest communication to task assignment to payment processing – are simplified by full stack solution from Guesty.
We had a conversation with Guesty’s Director of Sales (EMEA), Tomer Rosenblum, to discuss why the company thinks that their new Accounting module will be the answer to the industry’s needs.
On your website homepage, you define Guesty as a” Leading Property Management Platform”. How would you define it? How different is it from a PMS or a channel manager?
Guesty is an end-to-end solution for property management companies and professional hosts to automate and streamline the daily complex operational needs of their short-term rental portfolio. Property management can be a headache – but it doesn’t have to be. With 15+ core features, we’re more than a PMS and channel management is just one of our solutions that users rely on to centralize their reservations and guest communication, while automating manual tasks, handling payment processing, accounting, and more.
Being a leader in the industry also means having the most robust Marketplace of third-party vetted and approved solutions that can aid our customers in better managing their business – from contact-free solutions that limit human
contact to dynamic pricing solutions.
You’ve recently added an Accounting module to your solution. Why did you see the need for it? Generally speaking, how do you determine which product feature or module to build next?
Guesty is proud to have one of the best global customer success teams in the industry, helping our users navigate the ever changing ecosystem of short-term rentals and grow their business while maximizing their revenue. We are always listening to our users’ suggestions of ways to improve our product and better support their business needs. Accounting is one the most time-consuming and stressful aspects of running any business, especially within the property management realm.
Accounting by Guesty is specifically designed for the industry and is fully trust accounting-compatible. Our feature set enables users to automatically create automatic journal entries for every guest payment, from accounts payable to operational expenses, create custom owner statements for individual property owners and have all data easily synced with existing accounting programs.
We’re proud of this feature set; a built-in accounting module is unique to the market and brings a lot of value to our users as a solution to one of their biggest pain points. By utilizing it, Guest users spend less on hiring third-party accounting professionals and minimize manual labor spent on related tasks.
Let’s talk about travel trends. Despite everyone’s hopes, travel restrictions may persist in some parts of the world in autumn 2021. What do your data tell you about how travelers are reacting to this possibility for Q3?
While travel restrictions have continued to fluctuate and change on a constant basis, one thing is clear: travelers are showing an increasing pent up demand for travel and have embraced short-term rentals as the #1 lodging choice over traditional hotels and resorts that oftentimes are accompanied by crowded common areas.
Private rentals meet the unique demands that have emerged from the pandemic, including providing increased safety with lower guest turnover as well as longer-stay amenities like full kitchens, comfortable WFH setups and in some cases, private outdoor spaces.
Our latest data here at Guesty shows that even amid new variants, consumers still intend to travel. While it is still too early to tell whether the Delta variant or other strains will have a significant impact on Christmas travel across the United Kingdom, what we see now are promising numbers in regards to vacation rental bookings.
Reservation volume for the Christmas holiday across the UK is up an astounding 480% compared to 2020, and currently is 2.6% higher than pre-Covid 2019 volume. Christmas will be the most expensive holiday period in the UK this year, with consumers booking at rates 154% higher than 2020 and 44.2% higher than pre-Covid 2019.
Why is Guesty attending this year’s Vacation Rental World Summit in Annecy, France?
We are excited to attend this year’s Vacation Rental World Summit, one of the industry’s premier summits, to chat with users and prospects on the ground about their needs as they navigate this unique period. Each region differs, which is why we pride ourselves on our local, on-the-ground teams and platform’s availability in 15+ languages.
We can’t wait to showcase what our solutions can do for property management companies’ businesses, while highlighting our new capabilities – from accounting to advanced analytics.
Meet the Guesty team at the Vacation Rental World Summit in Annecy, France on September 16-17, 2021. If you haven’t already bought your tickets, you can purchase them for half off here.