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Vacation Rental Management Conference: Vacation rental software provider Guesty on Asia-Pacific market trends

Vacation Rental Software Provider Guesty On Asia-Pacific Market Trends
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This article is part of our Rental Scale-Up vacation rental management conference series. This is an extract from our May 2020 conference: “How villa and holiday rental managers are navigating the COVID-19 crisis in Southeast Asia and Oceania.”

Vacation Rental Management Conference: Guesty’s Yoav Tourel

Yoav Tourel is Managing Director of APAC for short-term property management platform, Guesty. In this role, he oversees operations, personnel, partnerships and sales in relation to the company’s Asia Pacific expansion efforts. Yoav boasts 20+ years of experience in advertising, media, sales and tech, formerly Head of Sales, APAC, at global ad tech giant Outbrain. There he co-founded the company’s ANZ operations. Based in Sydney, Yoav is a proud, married father of four.

Vacation Rental Management Conference: Video From The 2020 Southeast Asia & Oceania Conference

  • Yoav is based in Guesty’s new APAC office in Sydney.
  • Yoav urges property managers to understand what they can and can’t control, then they can focus on the things they can control.
  • Guesty tries to automate and streamline property management across various booking platforms (Booking.com, Airbnb, etc.)
  • COVID-19 has affected the short-term rental industry:
    • According to Guesty’s own data, US bookings are down 25% compared to the same time last year.
    • Globally, short-term rental occupancy is 10%, compared to 53% at this time last year (data from Transparent)
    • Airbnb hosts lost $1.5B in mid-March while Airbnb booking are down 85% and cancellation rates are around 90% (data from Biznews and Wired)
  • New types of travelers have emerged, including displaced travelers, people who want to isolate somewhere else, families, professionals who want a quiet space to work.
    • The global average length of stay has doubled, from 4.5 to 9 nights.
  • Looking at the first weeks of April and May, the country with the most new reservations in the United States, followed by Australia – both likely due to strong domestic travel. New Zealand is showing a trend of domestic travel too. The UK, Canada, and France are also showing strong new bookings. Italy saw a 130% increase in new bookings in May. 
  • International airlines are resuming flights to China and international hotel chains are reopening properties in June. 
  • Compared to this time last year, people are booking their travel for later in the year – globally. People are taking advantage of travel discounts and flexible cancellation policies, and they’re making plans to use their vacation days.
    • Thanksgiving (late November) bookings up 38%
    • Christmas bookings up 40%
    • New Years Eve bookings up 23%
  • “Travel bubbles” look promising, including a “trans-Tasman” bubble between Australia and New Zealand, also travel pacts between China, Vietnam, and South Korea.
  • Google search trends show people are eager to travel again.
    • The searches in Australia for “when can I travel” tripled compared to last year.
  • Many of Guesty’s property managers around the world are pivoting to make the best of the situation:
    • Marketing to the new types of travelers and locals
    • Using dynamic pricing tools and expanding to new booking channels
    • Using tech to handle contactless check-in
  • How do you appeal to the new “travel personals?”
    • Price strategically, especially for longer stays
    • Offer more flexible terms, perhaps adjusting your minimum length of stay or allowing pets
    • Showcase your cleaning protocol and outdoor space in your listing descriptions and titles.
    • Mention if you offer contactless check-in
    • Use new booking channels, including local newspapers or social media groups
    • Optimize your property for a “staycation” with amenities like games, beverages, speakers, fitness equipment, bath products, etc.
    • Share recommendations for food delivery and online activities.
  • A variety of tech solutions are available to minimize human interaction, including self check-in/out tools, keyless entry services, automated messaging, and remote cleaning management.
  • Pay attention to your rates – and perhaps use a dynamic pricing tool to set future rates without discounting too much.
  • Ensure your website can accept direct bookings. In addition, explore local booking sites that appeal to domestic travelers in your market.
  • Guesty’s Coronavirus Info Center is available for everyone (not only Guesty users), which contains tips and articles about coronavirus and the short-term rental industry.
    • Guesty also hosts frequent webinars for property managers.
  • Guesty is optimistic about the future:
    • Domestic travel will bounce back faster than international travel.
    • Guests will likely prefer isolated settings and choose short-term rentals instead of hotels.
    • Signs of recovery are evident during travel dates in late 2020.

Vacation Rental Management Conference: Full Conversation Between Yoav Tourel And Thibault Masson

Thibault (00:04):

Dear Rental Scale-Up club members, I am joined by Yoav Tourel, the managing director for Guesty in APAC. As you may know, Guesty is a great company, not only in terms of technology but also in terms of data and marketing. Guesty has been able to create so much educational content. You’ve probably seen them online somewhere. But what’s maybe you could be covering with you is the APAC side. What, what has Guesty seen in this crisis and where, what, what his advice is on how people, how companies can adapt where to go next. So it’s pretty exciting again, because I don’t think we have much content used by APAC and I guess to you, and you have been kind enough to create something for us. So thank you so much. You have, and what come to the show? How are you?

Yoav:

Thank you very much. Thank you very much. I’m okay. I’m broadcasting from Sydney and then I’m hundred to beer, so thank you very much for inviting us.

Thibault (01:05):

Well, it’s great to have you, as I said, so you are right now in Sydney and you are out of course of the APAC office. You manage the APAC office for Guesty, right?

Yoav:

Correct. So, yeah, so we have a team here, a team here in Sydney. We opened the office back in last September and we cover the entire APAC region for Guesty.

Thibault:

Very cool. And if I’m not mistaken, you have to put a very nice presentation for us. Introducing my guest is talking about the trends and all kinds of things. So without further ado, I mean now that you, I’m right with it. Take us there.

Yoav:

Well, thank you. So, eh, hello everyone. I’m very excited to be here with you all today. I’ll be discussing the topic on, you know, on everyone’s mind COVID-19 and it seemed back to on the short term rental ecosystem. One of the things that, or one of the main themes that we are there in that we still have hearing guests throughout this time is that we, we try to work with our clients and advise them to control what they can control. And you know, what they can’t control, they can’t control basically as simple as that. So with this view specifically, I’ll be looking at our property management companies can mitigate revenue loss and prepare for the future of travel by adapting their business models and expecting their tech portfolio to target new travel personas, which is something that I’ll touch on and quickly about myself.

Yoav (02:51):

My name is Yoav Tourel. I’m the managing director of APAC for Guesty. Yoav, also known as Joey. Nobody can say Yoav, when I didn’t have beard, people told me that. I looked like Andrea. I could see and sounds like Borat. So you go, you’ve got the full presentation of my AE and myself, eh, as I said, I’m from Guesty. We’re one of the largest short term rentals, property management platform. What we, what we do is that we try to automate and streamline pretty much all aspects of Austen across Airbnb, booking variable and other major booking platforms. Today. What we’ll cover in the next, I assume 2022 minutes, we will look at the impact that Coby 19 has ads on the short term rentals ecosystem from causing industry-wide revenue loss to creating the, what we call the new travelers of today. I’ll also touch trends that shed some light on what travel will look like when it returns. So property management companies in the audience can prepare for the changes we expect to see. And lastly, we’ll look at what property managers can do to adapt to the situation right now as we speak right now from implementing tech to limit human interaction to pivoting to 14 plus day rentals. Eh, and eh, I aim to leave you with some actionable takeaways.

Yoav:

Cool. So let’s say, let’s dive right into the question. We’re all wondering about our badly as COBIT 19 impacted the short term rental industry. Well look, as you, as you can see, it’s been significant. Covered night Dean has put the entire world on post flight canceled wedding postpones, major industry events delayed. We are just starting to see the ripple effect on the global scale. We see occupancy and future reservation are down worldwide. Eh, Airbnb, it’s seen eh, sorry, social debt, eh, Airbnb, it’s seen and, and, and present amount of a constellation. Sorry, some technical issues. Shall I stop and start from the beginning? Just kind of the street, the screenshots down on me. If you all can go back to the top of the slide where, just go back to the top of the site. So we have an actual photo. Oh, okay.

Yoav:

And then you can edit it. Cool. Sorry. So let’s dive right into the question. We’re all wondering about how badly is COVID-19 impacted the short term rental industry. Well, as, as you can see it’s been significant. COVID-19 is put the entire world on pause with flights canceled, wedding postpones, major industry events delayed. Eh, we are, we are definitely starting to see the ripple effect on the global scale. In terms of occupancy and future reservation down worldwide. Airbnb seen an a presentence amount of, of constellation. 2020 was supposed to be the company’s year, yet Airbnb, which was recently valued between 50 to 70 billion is now worse than less than 30 billion. And although there is no way to tell what the future will old, we know the travel will return. It just may look differently than before. I don’t think that we’ll get into a situation that once it’s tense, I don’t think that you’ll hear people saying, all right, now I need some time at Tom to relax that we want your debt. People will want to go out.

Yoav :

We are seeing that even even with the lock downs and restriction currently in place, people are still traveling. We keep asking our clients, who are your guests? And we, we see that they are mostly a either displaced travelers who cannot get home, eh, quarantine owners who need to isolate for 14 plus days. Care workers who need safe place to stay away from their families near or near hospitals, family needs, outdoor space or more space for kids. Business workers who need the nice work from home environment. We ordered from few of our clients in Japan that they’re getting booking from executives that just can’t, you know, contact the kids behind them in zoom when they’re doing all of the meetings. So they need kind of a good environment. Now the rise of this new travel personas as resulted in different patterns and guest expectation, eh, then travelers before the coronavirus.

Yoav:

So one of the biggest changes is, for example, is the length of stay pretty coronavirus. We’ve seen average length that was around 4.5 nights. Now it’s pretty much more than doubled. The average length of stay being booked worldwide increasing to nine and in a book nine days and above. So what, explain the change. Lots of people tend to extend, stays to meet the needs of sales, quarantine owners and isolate guests. In addition, travelers are booking future lengthier reservation to use saved up vacation days. But we’ll touch it more in a, in just a bit, eh, we can, we can see reservation numbers recovering. People are dreaming of travel, taking advantage of the reduced daily rates and working from a, from home. So that gives the flexibility to take a domestic staycation to a short term rentals. We’ve seen it, eh, in different parts of the world.

Yoav:

U S is leading in terms of the volume of reservations with the numbers of universes that the reservation now in may increasing by 87% compared to April. So quite a strong increase Australia. And so Australia is now getting better and better on the 1st of June you can travel freely, New South Wales, other restriction, a bill lifted and we start to see the, the winds of change. It’s coming second in our data in terms of volume of bookings with the numbers of new reservation created in may increasing by more than 41% compared to April. Other countries seeing signs of recoveries, FYI, including the UK, Canada, France and Italy. Just as a, as a super interesting now one of the artists, eight countries by COVID-19 it’s currently six in our data with a 30% increase in your reservation in may compared to April, mainly from Milan. And Lake Como in the last, in the last two weeks we’ve seen improvement, which is promising obviously still far from what we had pre Corona.

Yoav:

But what it tells all of us, if Eataly, which was at the lowest point of any country can come back, we can all come back. If you look at other parts of APAC, China specifically, we are seeing the travel is slow boldly and starting to return to normal into all the international flights are set to resume on June 1st including airlines like Delta and United and major hotel chains like the Hilton or reopening their doors. We had at the beginning of may, the labor weekend, the five days is China registered more than 110 million domestic tourists. And I’ll touch later on in other kind of search data that we have from the different countries. I also mentioned New Zealand, so New Zealand now moving to or last week moving to stage two, that’s basically seeing them now traveling between the different areas and we see also increase on booking, for example, in Queenstown, which is the ski season.

Yoav:

The snow season is about to start, eh now, although there is no way to predict what the future holds right now. There are still plenty reasons to maintain optimistic we think for for the future of travel, especially in time for early days later this year. So look into our data. According to our data, we’re seeing an improvement in reservation as early as pretty much in the next month or so as fault. The current number of reservation in system for spring and the fall in the U S it’s similar to the volume it offers. The relation that we sold last year, September is still a bit lower, but as you can see on the slide there booking for things leaving Christmas and new year’s Eve globally in our system now our higher than what we saw at this time last year. So people are booking more for the spirit of time since many travelers add to put early vacation this year on old and I mentioned before looking to use saved up vacation days on three days later in the year. Eh, travelers may also book a only days vacation earlier than usual as they take advantage of the discounted rates. And I’ll touch it also as part of our recommendation. So they’re looking into this complaint, some future States or a relaxed cancellation policies that Allstar offering to incentivize bookings. So, you know, people are dreaming on travel, they have better rates, more and more hosts are presenting flexible policies. So it’s kind of create the right environment to make more bookings.

Yoav:

Eh, now I’m sure that many of you already seen it in the news. They put region will be one of the first areas of the world to slowly resume travel. And yesterday we had only three cases across Australia. And New Zealand is a very good shape. China’s as, as we’ve seen starting kind of to open up. Eh, now we kind of, eh, we see that the Australian government earlier this month, eh, announced that on drastic cutbacks and on the lockdown restriction, including those arrived in tourism, eh, and, and not their kind of step that is discussed often here in the news is to create the trans Tasman bubble which will eventually allow for traveled between Australia and New Zealand. So not only that, kind of both countries continue to report on low numbers for COVID-19, but also each of these countries play a huge factor in tourism for the other country.

Yoav:

So there is kind of strong, strong relationship, a strong travel relationship between the two, the two countries. And you know, being here in Australia, we opt to see it starting in July. There is no set date and you know, we, we really don’t know. But these are kind of the, the, the discussions. We’re seeing the same patterns across other sea countries in which we may see Vietnam offering to form travel pack with surrounding countries like China and South Korea. And since we see that travelers very worried about flying internationally, the trans Tasman bubble will drive domestic travel between New Zealand and Australia even more so that means that Australia could stand to benefit from a closure of international borders should the spending of Australia international travel be redirected to domestic travel. So we can kind of get kind of a from it. We anticipate that when this is all over and more and more people begin to make up for the last time, they will be choosing rentals over hotels to avoid the hotels with busy common areas like the lobbies, the dining rooms, et cetera.

Yoav:

So the assumption is that domestic will pick and we think the domestic, the short term rentals, eh, now, eh, although almost everyone is confined to their houses right now, we’re seeing that many already daydreaming about the first vacation they will take post the Corona virus. In fact, people are thinking about and actively researching. They travel now more than ever before showing that there is some reason to be cautiously optimistic about the future of travel. And if you, if you’re familiar with Google trends and it ranks various of search topics from one to 100 by the, eh, by the interest of our time 100 representing peak popularity. If we look on that, the from across Australia shows that while last year at this time, the search time, when can I travel at the ranking of approximately 15? It is projected to reach a peak popularity this week, scoring 100. So when can I travel is very, very common search query. These days in Google we see very similar data from countries like a Korea and Taiwan and Hong Kong and China. There it’s not, when can I travel? It’s actually searching to book the different kind of booking engine. So if you know, if the search behavior can tell us something, it’s definitely, there is some optimism out there.

Yoav:

Eh, now we’ve seen, we’ve seen that many off guests, these clients, property management companies, all of the world are implementing new technology and experimenting with strategies in order to mitigate revenue loss caused by COVID-19. We are seeing more and more hosts that are shifting their marketing strategies away from focusing on being a vacation destination and towards being commendation that meet the needs of the new type of traveler that have a marriage. Eh, by that it means that they are promoting the properties self-learn time, quarantine or safe heavens and away from the city that allow working remotely. In addition, also reading more, eh, string it stringent, a clean processes as well as spirit, such as self checking out, automate the checkout to limit that human contact. And they’re also utilizing a dynamic pricing tools and offering that flexible cancellation policies. And they are keeping their rental stocks with a amenities and entertainment to keep the guests busy. We’ll also mention it in some of our recommendation and you know, whether it’s the pantry and the kitchen fully packed, eh, for extended period of time and provide game constables, puzzles, monopoly, Netflix, coffee, dry food, et cetera. Now I’ll, can you quickly pivot to meet the new demand in the market? Let’s, let’s go through that.

Yoav:

So first, let’s start with the marketing. So we’re speaking about new travel personas today. What will most of your guests in the COVID-19 era have in common? So there are other domestic tourists or are those looking for a stay in your city due to circumstances beyond their control and since the data tell us that most travel will be domestics, once restriction are lifted, marketing strategy should focus on grabbing the attention of these local travelers. So that starts to go, most of these travelers are likely planning this vacation at the last minute and they’re probably expecting to spend less on accommodation. So you know, doing last minute booking and spending less and that should eh PMCs property management companies who consider optimizing their pricing strategy using yield management. For example, in your, your PMs and guests, these including that you can actually set rules.

Yoav:

That individual book five days before as a vacation is meant to start, can get 20% of under booking and you can set it up to 30% off if a property is booked two days in advance. For example, if you have changed your a cancellation policy to allow more flexibility, make sure that you, I like that promoted. If potential guests say that you want, penalize them for canceling last minute, which I think most guests will expect, they may be more likely to book with you over competitors. Make sure that you adjust your listing description to reflect any efforts you’re making to keep the Guelph LT and eh and safe and your property sanitized. For example, using CDC approved cleaning suppliers or practices. There are lots of, on a side note on that, there are lots of discussion in different countries now on new standards for cleaning.

Yoav:

We’ve seen examples from the hotels and we’ve seen more and more examples of short term rentals, whether it’s associations, you’re in Australia and all the tasks. The local association is looking into that, into those new standardization and limit human content. So keyless entry solution. So no person key exchange is necessary for families and those who need to work for many hours out of the day anyhow, their spaces are a big sell. So I like that. So it’s a, you know, some of the feature, it used to be I liked it before, but now definitely kind of with the new type of traveler gives kind of eh eh, it gives the opportunity to highlight more or other features in your properties. Eh, now your marketing strategies should focus on grabbing the attention of local travelers as I mentioned. And we think that property managers should, must, I liked their unique selling points that are relevant to travelers who can easily drive to their property.

Yoav:

So you know, if it’s to market your rentals as family and pet-friendly so guests can cough terribly troubled domestically with all of their loved ones and since they may be less interested in your city, Maine and busiest tourist attraction. So I liked off the beaten path options like even parks, neighborhood favorites, restaurant, et cetera, that now is the time to give the local tips and market your property in local newspapers or social groups. It’s kind of, it’s a, it’s almost like baked kind of back to back to the basic in terms of how it’s being marketed. There are lots of apps out there that allow you to list it on different local directories. A one of our clients that’s a company property management company called Mason nets from Sydney. They started the Facebook group, Australia self isolation accommodation. So property managers can use this group to stay up to date with potential trends or demands in the local markets such as standard stranded travelers or those who are looking for self Florentine rentals.

Yoav:

So we see kind of all kinds of creative solution across our clients. Become an expert in staycation. So staycation soon. Most of us are familiar with stay and vacation. The combination of the words, eh, that was a growing trend in the U S even before the Corona virus and with more than half of all Americans having taken one staycation or as less likely to go sightseeing or hustled around the busy city. But they’re looking to this stress, relax and, and, and wind prep your rentals accordingly and market it as an Oasis for those needing to get away without really getting going too far. So you know, it’s pretty much you have everything, especially with properties that have swimming pool, big backyard, maybe a short distance to the beach, et cetera, and make sure that they are equipped with luxury and amenities like selection of teas, bubble bath, speaker system and you know, wine, beer.

Yoav:

And now I also mentioned the travel have long preferred self service options over face to face ones and these trends in more important now than ever. We expect that even after coronavirus Jess will prefer, sorry rentals that limit interactions with alts. So to prepare for that short term rentals, property management companies can rely on a variety of tech tools that help minimize the need for human interaction while still providing a top notch guest experience. Now these are few examples for the audience. They’re all part of our guests. The vetted marketplace of partners, eh, there are many other solution out there. Oscar can use tools to implement self checking and checkout process too. So guests can come and go without face to face meeting, implement keyless entry services like key masks to avoid physical key drop off. And they can utilize the technology provided by the companies like Jack hap to manage cleaning stuff remotely while still reviewing the cleaning through verification photos and real time reports. So you can make sure that the standards are being met, a automated messages and we offer automated messages. For example, they can be used as an extension of your content free guest experience with these ultimate messages. You can create constellation flows to target cancel guests for example, with coupons on future stays. And you can provide clear communication on all checking instructions, procedure during confirmation and answered all inquiries, et cetera.

Yoav:

And now since we’ve seen dramatic increase in trips for the spring and summer, you need to start thinking about how to price the end of the year of the vacation to secure those bookings. Now it, eh, it can be tempting to guard the price, especially for holidays travel, which usually a trucks I R rights a lowering your rates for the future can actually help you to capture early reservation. Even with supply high and demand low, eh, we recommend to work with dynamic pricing tools. There are tools out there like price labs and we Laos, both of them are the partners, both use algorithms that will price conservatively based on the neighborhood occupancy rate, client discounts for booking over weeks a month out to generate revenue even while demand is low. So there are solutions that think about a making eh really kind of affordable rates for, for the future.

Yoav:

I spoke a few times around optimizing more for domestic travel and we, we in Accords property manager to explore even more additional channel manager. So rather than solely listing your booking on a global OTA and look for those dedicated to driving regional specific booking, so sites that specified in offering a local based rentals and they can be also doing your SEO work for you. So think about it also from that perspective. You can also try to secure booking directly so you can use your own way rental website to accept the booking. It lets you control everything from marketing to booking payment. It’s also means that you control the cancellation policy, how you manage guests. And more importantly, you don’t need to worry about paying commission to third parties. So another recommendation here, eh, another one, put focus on targeting repeat customers. Eh, lots of our clients, they have returning guests, they are in their database.

Yoav:

So incentivize, incentivize to come back and with you know, with discount codes or coupon codes, now it’s the time to experiment in this. You command part of your automated checkout flow and you can use this for that. You can also use automated message to send targeted emails to guests with canceled, incentivize them to book for the future with discounted rates. We kind of, we are many cases from clients that actually secured future booking like that. And, and yeah, you might have a much higher chance to get them back, getting them to rebook one of your properties when the time is right and the virus is no longer a concern a. Now lastly, make sure that the guests enjoyed their time with you. And that’s always true. In order to make your guests sign as comfortable as possible, they will need the fully stoked rental with all of the amenities required for an extended stay.

Yoav:

If we speaking about the the length of stay, that’s doubled. So think about everything from toilet paper to laundry, the targets to food face, coffee more, eh, since they will be spending at least 40 days long in most cases with them, with a selection of books, games, access to Apple, TV, Netflix, and even even a yoga mat or a set of dumbbells to help them to pass the time. We’ve seen a, yeah, we’ve seen many of our kind of clients really kind of gearing up their properties. Eh, you can make the opportunity to work with local businesses near the properties and incorporate their services to upsell such as food takeaways for local restaurants, dresser delivery, eh, at, ahm, we’ve seen one case in Brisbane atoms, ceramic kids created by local craft store, a live streaming personal training session, virtual concert or museum. Through the more

Yoav:

Now I’ll can property manager companies navigate coronavirus, prepared them to the return of travel and provide the top-notch guest experience, revamped link policies, matching manage bookings and more all at the same time. And that’s we are, we are here to help with that. I’m a bit kind of really quickly about kind of eh, eh, guests. The four dots of you might be less familiar with GST and what we do, our mission is to help streamline the complex operational needs. Property manager is tasked with accomplishing daily and whether it’s staff management task automation or 24 seven guest communication, we provide solution to keep points helping property managers to save time and focus on growth. We try to make their life easier so they can grow their business if we have an holistic approach. So being a one stop shop for OTA is a booking platforms. And in addition, as I mentioned earlier, we also enable integration with many third party, brilliant third party tech solution that they, that we all share the same goal of making property management easier. We call it our marketplace. And it’s really made up of I guess the approved and vetted third party tech solution across several verticals. And it acts as an aggregator in the smart and in the comic here. We are going to build out our marketplace with some additional verticals such as sales and marketing.

Yoav:

A now as you’ve seen here today, the impact on the short term rentals of COVID-19 has been far reaching. We created an info center to act as a resource point for property management companies. It’s, it’s open to everyone needs, whether they’re clients or not, clients I mentioned in the beginning of a phone call when I went to live on air that eh, I feel that a lot of us in the industry, it really showed a lot of empathy during this time. Still showing we’re learning a lot from others. We’re sharing a lot with others and this is one of the way that we’re trying to do that. In the resource center you will find tips, actionable, actionable advice, tech solution and many more a content and articles to help you stay on the top of this global health crisis. And really in order to come out of it stronger.

Yoav:

So I invite everyone to visit our praise to check out and all of the content there. Am we, you know, just kind of to mention few example of content and then actually things that we’re collecting also from our clients. And that’s kind of our way we share. So from clients that provide shelter to COVID-19 frontline workers to do empathizing with guests and we try to collect lots of tips and share them. And we also launched a new project to connect property management companies with guests that are looking for swells, for self pointing, all isolated rentals. It’s the directory that also would live on our website. And basically doing that matchmaking, eh, we have, eh, we have a think today, 33 cut clients, TMCs that are listed, 10 of them from those Tahlia and APAC region.

Yoav:

And last but not least, since all the global events and conferences has been put down on old. So just like the rent, the rental scale up, which is kind of such an amazing and kind of event. We also try and do our own virtual events. We did the eight virtual events in the last six weeks across globally. Two of them were here in APAC. We’re having another Chinese one, eh, later on this week. And on June 10th we are doing a global webinar about the day after COVID-19 preparing for the return of travel. So if anyone wanted to add to join, please be our guest, eh. So, eh, before I go today, I wanted to remind you one last time that the future, we believe that the future looks bright, eh, travel will return with domestic travel picking up faster than international guests will likely opt for private rentals over hotels to ensure more isolated settings. We see early signs of recovery for us fall in winter as well as in Australia, New Zealand and some of the Southeast Asia countries. Eh, with number of current reservations, stronger than last year. And eh, yeah, we’re we arrived to the thank you page. So I really hope that I was insightful. Interesting.

Thibault:

Yeah, it’s been great. Thank you so much for your time and presentation. And that was nice. You see that the nice slide again, it was ending on a positive note, which you know, is something when you would be coming, but it’s good to see it is happening is that bookings are returning. There’s an episode and as you reflect, you mentioned as well in your slide this, this pendant need or demand for travel. And it’s a, it’s, it’s very been very, very interesting.

Yoav:

It is. It is. And you know, looking even on the other speakers and presentation in this, in this event, I think that kind of, they are, there are, there are really great companies out there, really smart companies out there. And I think that you know, the, one of the, one of the positive things about the Corona virus, if I can, if I can put it this way, is a thing that the industry is coming out better and stronger from that thing that it becomes became more mature and responsible and with higher standards and they were really looking forward kind of to, to the future.

Thibault (37:15):

Yoav, thank you again so much for your time. My usual question in the end is how to get ahold of you, but kindly you’ve already put your email address out there. Thanks so much. People will be able to email you. What I would do is so below the video put of course the need to Guesty and as you said, guests these amazing content creation advice or really be encouraged. I watch his year to, to check out the content and then watch the webinars. It’s very, very rich. So it’s been really a pleasure. You have, you have to on your work. You’re the managing director of APAC from Guesty and I wish you a great week.

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