The Growth and Future of Cozi Vacation Rentals with CEO Matt Durrett

In Episode 58 of STR Data Lab, Jamie Lane sits down with Matt Durrett, CEO of Cozi Vacation Rentals. They discuss the company's impressive growth, strategies in evolving market conditions, and how they maintain quality amidst rapidly increasing property listings. Starting with just 10 houses in 2020, Cozi has expanded to nearly 350 properties by 2023.

Matt reveals the strategy behind Cozi’s swift expansion: a focused approach on a single market. Concentrating on Fredericksburg, TX, and the Hill Country, Cozi developed a 24/7 customer experience team to provide exceptional service. A significant 97% of their bookings are from neighboring cities, highlighting its appeal as a drive-to destination. Cozi's property selection criteria revolve around three core aspects: exceptional owners, prime locations, and amenities that appeal to guests.

The conversation also explores the influence of interest rates and real estate trends on the vacation rental market. Matt emphasizes the need to prioritize guest needs, ensure quality experiences, and build trust with guests and property owners. He also mentions that Cozi annually curates its portfolio, removing the bottom 10% to maintain only the finest homes.

This episode offers invaluable insights into successful growth strategies in the vacation rental industry – don't miss it!

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Connect with Cozi:

Join.cozivr.com

matt@cozivr.com

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LinkedIn: https://www.linkedin.com/in/jamiehlane/

Twitter: https://twitter.com/Jamie_Lane

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Growing Your Vacation Rental Business with Brooke Pfautz from Vintory

In Episode 59 of STR Data Lab, Jamie Lane welcomes Brooke Pfautz, Founder and CEO of Vintory, who brings over 16 years of industry experience. Brooke shares his journey in the vacation rental sector, emphasizing his passion for numbers and metrics. He explains that Vintory focuses exclusively on the supply side, helping property managers in expanding their portfolios. He also discusses the concept of co-hosting and property management, noting that many short-term vacation rental managers began their careers as co-hosts.

Jamie and Brooke dive into critical concepts like customer acquisition cost and the lifetime value of new properties. Brooke outlines key growth strategies, including leveraging referrals, providing value to realtors, participating in community activities, and using direct mail—an effective technique in the sector. He highlights the importance of consistency and patience in marketing to attract and retain customers, drawing parallels between customer acquisition costs and lifetime value metrics in both the vacation rental and SaaS industries.

The episode also explores the potential benefits of diversifying into different markets. Brooke talks about Vintory's operational strategies and how his innovative approach to idea-sharing on LinkedIn led to his book, "Vacation Rental Secrets." This book offers insights from 52 top vacation rental managers, each sharing their top 10 industry mistakes, making it a valuable resource for investors.

Don't miss this episode for a deep dive into effective strategies for growth in the vacation rental industry.

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Connect with Brooke:

Vintory.com

brooke@vintory,com

https://www.linkedin.com/in/d-brooke-pfautz-1a4a4a1/

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Signup for AirDNA for FREE👇

https://app.airdna.co/data

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Connect with Jamie on LinkedIn and Twitter:

LinkedIn: https://www.linkedin.com/in/jamiehlane/