Technology Adoption in the Short-Term Rental Property Management Industry

• Autor(a) principal: Gong, Susana
• Data de Publicação: 2023
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10451/61602
• topic: Short-Term Rentals; Property managers; Digital platforms; Software studies; Digital technology; Geografia; Turismo; Comunicação

This dissertation exploresthe technologies adopted by professional property management companies in the short-term rental (STR) industry. The term "professional management companies" refers to companies that manage multiple short-term rentals on behalf of homeowners, encompassing a range of responsibilities from distribution and reservation to cleaning operations. Given that there is a lack of literature on technologies used in the STR industry, particularly in a professional context, this research delves into the array of technologies adopted by property managers. The objective is to understand what technologies short-term rental property managers use, and for what purposes. This dissertation uses an exploratory qualitative approach and begins with secondary desk research analyzing industry reports, blogs, and online materials. Then in-depth interviews were conducted with STR property management companies and STR technology service providers. Findings indicate that the rapid expansion of STR technology is driven by industry growth and low entry barriers for tech entrepreneurs. Property managers display a notable embrace of fundamental technologies like Property Management Systems (PMS), channel managers, keyless entry systems, dynamic pricing tools, and task management tools. PMS stands out as the most important software for property managers. Interviews highlight property managers' preference for integrated options like all-in-one PMSs, streamlining tasks such as reservations, channel management, task management, pricing, guest communication, and regulatory reporting. The study also found that digital guest experience technology is booming, spotlighting advancements like smart locks, 3D tours, chatbots, home automation, noise control devices, and voice concierge services. These innovations enhance guest interactions and experiences, a pivotal focus for growing companies. Industry consolidation is also a trend, as major STR firms' acquisitions reshape the market. Despite this, the fragmented STR technology landscape poses a challenge, driving the need for more interconnected solutions to enhance guest satisfaction and operational efficiency.