CLIENT

Who is StayMarquis?

StayMarquis is the Hamptons’ premier luxury vacation rental company, offering rental property owners and their guests a hands-on, hassle-free experience.

The goal of the company’s full-service vacation rental business is to enable owners and visitors to "rent without reservations." StayMarquis is involved at every stage of the vacation rental process by offering premium marketing, booking, rental management, and concierge services assuring a smooth and trouble-free experience for the owner and visitor each and every time. Using contemporary methods, the company has become the #1 solution for property management Hamptons.

Its tailored approach to rental management had proven successful while working with only a few properties. StayMarquis relied on working closely with rental owners to understand price points and manually performed external research to create competitive sets and analyze historical data.

PROBLEM

What issues did StayMarquis face pre-AirDNA?

But that success created a (good) problem: the company was growing too quickly to continue its manual data operations.

As the number of StayMarquise properties grew, so did the volume of data that needed to be processed. The company was quickly facing a situation where processing data manually was no longer feasible.

StayMarquise's previous data solutions were not only slow but also lacked flexibility and scalability. They couldn't handle the volume or velocity of new data coming into their system and they couldn't easily expand to support new channels or countries where they wanted to expand their business.

The StayMarquis team also struggled to accurately set nightly rates for their properties due to the lack of data on trends and competitive pricing. Without this information, they could not determine what their customers were willing to pay for rooms at each property or how much revenue they could generate from each guest.

The company also wanted to improve its ability to predict demand for rooms, so it could better allocate resources and increase profitability in peak seasons.

In order for StayMarquise to meet its growth goals, it needed a solution that could scale with the company and provide real-time updates.

SOLUTION

How did they scale to 1,000+?

AirDNA delivered reliable past and future rental data to help StayMarquis successfully scale not only its property count, but its ability to provide property owners with accurate, actionable data to increase their rental revenue on an ongoing basis.

Within the live, interactive platform, property owners can receive dynamic reports containing market-specific prices, helping homeowners better manage their rental revenue. Owners can access KPIs, including gross booking values, nights booked, property-level performance metrics, available inventory, and more, walking away with a holistic understanding of their market.

“Investment properties that take our recommendations receive two times the annual gross booking revenue than comparable properties.”

Max Schuster, Chief Revenue Officer, StayMarquis

On top of providing accurate information to homeowners, StayMarquis also uses AirDNA data to compare competitive sets containing market and submarket data, as well as granular data on properties’ amenities. This data not only affords rental property owners the insights needed to optimize current performance, but also allows StayMarquis to make recommendations to homeowners on potential property improvements that can increase their revenue capture. Layering the granular data, such as amenity information, against the higher-level market pricing data allows StayMarquis to provide an enhanced service offering to its customers.

StayMarquis has been able to leverage AirDNA’s Property Performance Dashboard in order to understand how properties are performing compared to the competition. This allows them to identify which properties are underperforming and adjust their rates accordingly.

Additionally, they have used AirDNA’s Forward Pricing Feed tool as an additional layer of confidence in making pricing decisions for their properties.

RESULTS

What were the results?

With all this data available at their fingertips, StayMarquis can now make smarter decisions about which properties are right for them and their clients, who are looking for upscale homes across America. This makes it easier for them to scale their portfolio across multiple markets — without having to hire additional agents or spend time on non-revenue generating activities like sourcing new leads or managing listings for clients who don't want any help finding their next home.

For StayMarquis, using the forward pricing feed and property performance data from AirDNA to generate precise pricing suggestions has been another key advantage. Once StayMarquis started utilizing AirDNA's forward pricing feed and property performance data, it started to optimize and grow. StayMarquis confidently offers real-time, data-driven recommendations to its expanding list of property owners by using a statistically significant amount of data points to create pricing recommendations.

Since using AirDNA’s data and insights for property managers, StayMarquis has grown from 600 to over 1,000 properties only in the Hamptons, expanded to 3 additional markets, and homeowner retention has never been better.