LiveRez signals start of vacation rental tech overhaul, signs to industry distribution system
LiveRez is the first software company to sign up to the Vacation Rental Switch, a system which was finally ratified in November 2011 when the VRMA and Pegasus agreed to cooperate on the technology after a period of tense negotiations last year.
Securing LiveRez, which will give the software provider’s 600+ professional vacation rental manager partners the ability to list their properties in real time on the VRS, is an important milestone in the young history of the programme.
The VRMA-Pegasus switch is seen by some as a hoped-for alternative to HomeAway, which has been trying to make inroads into the professionally managed vacation rental market.
Essentially the VRS is a distribution tool allowing travellers worldwide to find and book professionally managed vacation rental properties online.
In addition, vacation rental software companies (such as LiveRez) can also integrate into the Pegasus system, giving real-time online booking, payment processing and calendar integration across a number of online channels.
LiveRez CEO Tracy Lotz says the company is likely to be the first of a number of technology providers agreeing to participate in the VRS.
“The thing that is attractive to us about the VRS is it allows our partners’ individual brands to be protected and promoted, while putting their properties in front of more travelers.
“Specific returns will probably depend on the distribution partners, but we have a firm belief that if we build into the VRS the distribution partners will come. LiveRez is successful when our property manager partners are successful.”
VRMA president Steve Trover says the VRS is expected to go into beta testing over the summer of 2012 via the organisation’s own consumer-facing retail site, DiscoverVacationHomes.
NB: Rental property image via Shutterstock.
Kevin May is a senior editor and was one of the co-founders at Tnooz in 2009. He was previously editor of UK-based magazine Travolution and web editor of Media Week UK from 2003 to 2005.
He has worked in regional newspapers (Essex Enquirer) and started his career in journalism at the Police Gazette at New Scotland Yard in London. He has a degree in criminology, a postgraduate diploma in magazine journalism and publishes his first book - a biography about electronic band, Depeche Mode - in 2015.