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Business PlansThe Future of Unique Stays: A Deep Dive with Ben Wolff
In this episode of the STR Data Lab, Jamie Lane, Chief Economist at AirDNA, invites Ben Wolff, co-founder of Onera and Oasi. Ben traces his journey from starting Sensei, an early rental management company, to establishing his own unique vacation rental business. Inspired by his passion for real estate and technology, Ben ventured into the unique stays sector by creating Onera, a high-end treehouse retreat in Texas Hill Country that quickly gained success.
Onera cleverly blends the natural environment with luxury, offering an appealing alternative between rustic camping and top-tier hotels. This concept proved especially popular during the COVID-19 pandemic as travelers sought unique outdoor experiences. Ben emphasizes the importance of creating memorable guest experiences to stay competitive in the unique stays market.
The success of Onera led to its acquisition by Summit, a public REIT, pushing Ben's team to elevate their operational and reporting standards. The acquisition also confirmed Onera’s leadership in the alternative hospitality sector. Ben’s next venture, Onera Wimberley, aims to expand on the luxury and group-friendly aspects, responding to increasing demand for high-end, nature-close accommodations.
Ben also discusses the role of social media in marketing, predicting that platforms like Instagram could become significant channels for booking unique stays. He outlines his strategies for content marketing and influencer collaborations to drive direct bookings. His company, Oasi, is heavily invested in digital marketing to fully leverage online platforms.
Wrapping up, Ben considers the potential for OTAs to integrate social features, like Expedia’s travel shops, as beneficial for widening distribution channels while keeping control over guest experiences through direct bookings.
You don’t want to miss this episode!
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Ben’s Linkedin:
https://www.linkedin.com/in/ben-wolff/
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Signup for AirDNA for FREE👇
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Connect with Jamie on LinkedIn and Twitter:
LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
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Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
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Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
Twitter: https://twitter.com/airdna
TikTok: https://www.tiktok.com/@airdna.co
Instagram: https://instagram.com/airdna.co
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Find AirDNA at these upcoming events!
Up Next:
Pioneering Short-Term Rental Investments with Shawn Moore
In this episode of the STR Data Lab, Jamie Lane, the chief economist at AirDNA, welcomes Shawn Moore, CEO and founder of Vodyssey, for a long-overdue conversation.
Shawn shares his journey in real estate, which began shortly after college. His career in real estate spans over 24 years, starting with fix-and-flip properties and long-term rentals before transitioning to short-term rentals. This shift occurred accidentally when he bought a second home in 2006 and started renting it out to cover mortgage payments.
Noticing the potential of short-term rentals, Shawn went all-in by 2015, fully transitioning his investments from development deals to short-term rentals. He discusses how the industry's growth, particularly post-COVID, has influenced his strategy and the need for accurate data for successful investment.
Shawn recounts the pivotal moment in 2015 when a conversation with his young son and an advertisement campaign on the limited summers with children motivated him to focus on something more fulfilling. This led to the foundation of Vodyssey in 2019, aimed at helping others navigate the short-term rental market.
Initially starting small, Vodyssey now boasts over 3000 members in a high-end mastermind group. Shawn emphasizes the importance of choosing markets that align with personal preferences and are short-term rental-friendly. He advises investors to focus on markets they are familiar with and enjoy, rather than getting overwhelmed by numerous options.
Shawn and Jamie discuss the significance of having reliable data sources like AirDNA to make informed decisions, as well as the evolution of short-term rental regulations. They also highlight the necessity of understanding market-specific dynamics, such as occupancy rates and seasonality, to identify profitable investment opportunities.
Sean's approach underscores the balance between personal enjoyment and investment viability, encouraging investors to leverage their knowledge and preferences for successful property management and marketing.
You don’t want to miss this episode!
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Connect With Shawn
instagram.com/vodysseyshawnmoore
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Signup for AirDNA for FREE👇
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Connect with Jamie on LinkedIn and Twitter:
LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
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Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
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Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
Twitter: https://twitter.com/airdna
TikTok: https://www.tiktok.com/@airdna.co
Instagram: https://instagram.com/airdna.co
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Find AirDNA at these upcoming events!