The Cost of Inaction: How, When, and WHY to Make Your Move in a Challenging Market
TravelNet Solutions | Hotel Marketing Blog
by cody
3w ago
We all have something we wish we hadn’t waited to do. Ask somebody out. Go to grad school. Clean the gutters. Sometimes, the cost to us is emotional, e.g. regret. Other times, it can be measured in dollars and cents. Let’s call it the cost of inaction. Fear is usually in play. Sometimes, that fear is based on concrete facts or past experiences. But usually, it’s based on a story that we tell ourselves. She’s out of my league. I’m too old to go back to school. The gutters can wait until spring. We live in uncertain and chaotic times. The US economy is either doing well or terribly, depending o ..read more
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Track Again Named Airbnb Preferred+ Software Partner
TravelNet Solutions | Hotel Marketing Blog
by cody
1M ago
Airbnb has released its annual Preferred Software Partners list and Track has been named a Preferred+ partner. Airbnb’s Preferred Software Partner program recognizes and rewards best-in-class connectivity partners that have met or exceeded its requisite technical and performance requirements. The program also provides members with a range of benefits including fast-tracked and dedicated technical support from Airbnb’s API support team, the ability to provide feedback on API features, and more. This valuable program helps to strengthen Track’s partnership with Airbnb. Track, a TravelNet Soluti ..read more
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How to Identify Credit Card Fraud
TravelNet Solutions | Hotel Marketing Blog
by cody
2M ago
Fraud has been a risk of doing business since the advent of currency. Since then, it’s taken many forms. Suppliers defrauding sellers. Sellers defrauding customers. But in 2024, it’s credit card fraud we need to worry about most. And the vacation rental industry is hardly immune. Property managers can use these tips to identify different types of credit card fraud, how to spot them, and how TrackPayments can eliminate some of the associated headaches. The two types of fraud There are two basic types of credit card fraud—intentional or what we call “friendly fraud.” Let’s examine each in mor ..read more
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TrackDistribution: Reviews Management makes reviews ‘actionable, manageable, and scalable’
TravelNet Solutions | Hotel Marketing Blog
by cody
4M ago
In mid-2023, TravelNet Solutions introduced TrackDistribution (formerly Distribution Engine), a channel management solution integrated into their flagship Track platform. This solution greatly enhanced Track’s distribution abilities. Reviews Management was added shortly thereafter, and it’s already caught the attention of industry pros. Reviews Management provides a simple central dashboard for reading and responding to reviews across the major distribution channels. Among the early adopters of the new solutions is VTrips, a large and fast-growing property management company out of Ponte Vedr ..read more
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Reaction to Skift Article about the ‘Taylor Swift Effect’
TravelNet Solutions | Hotel Marketing Blog
by cody
4M ago
A recent Skift article illustrates the massive ADR bounce and longer booking window accompanying marquee events such as the Taylor Swift Eras Tour or its nearest real-world analog, the Super Bowl. Big events are a prime example of how dynamic pricing creates revenue optimization. That shouldn’t come as a surprise to anyone who’s worked in, or merely understands, the hospitality business. But there’s much more to learn about these cultural phenomena and how they fit into your annual planning. The economic impact Most estimates place the US economic impact of Taylor Swift’s Eras tour at somewhe ..read more
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Payment Processing Infographic: How TrackPayments Works
TravelNet Solutions | Hotel Marketing Blog
by cody
4M ago
TrackPayments was purpose-built to be the fastest, most secure, and most economical payment processing solution in the industry. No hidden fees, no hassle, and fully integrated with Track. Here’s how it works: The post Payment Processing Infographic: How TrackPayments Works appeared first on TravelNet Solutions ..read more
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Land of the Fee: The Confusing Costs of Payment Processing
TravelNet Solutions | Hotel Marketing Blog
by cody
5M ago
Credit card processing fees are a fact of life for any business that runs cards. When it comes to the card companies themselves, you’re at their mercy. Ultimately, you’ll pay them about 3% in interchange fees, essentially the cost of the credit they offer. Fair enough. But the relationship between vendors and credit card companies isn’t direct. Payment processing companies are intermediaries in the transaction, and they get their own cut. That’s fair, too—if you know what you’re paying and why. In general, fees are a widely accepted and frequently used additional revenue source for many compa ..read more
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Reaction to KeyData Article About Trends Heading into 2024
TravelNet Solutions | Hotel Marketing Blog
by cody
5M ago
KeyData’s October 2023 overview of industry trends reveals a few potentially worrisome trends as we head into 2024. Occupancy, ADR, and RevPAR are all down compared to 2021 and 2022 (but higher than 2019); booking windows and average length of stay are down, and; shoulder season performance is slightly up. To be fair, 2021 should hardly count as a benchmark. The pandemic bump that benefited many short-term rental companies couldn’t last. But it helped expose more travelers to the wonderful possibilities of vacation rentals vs. hotels, and we’re still seeing some of those gains. Effectively ..read more
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What is Track Payments?
TravelNet Solutions | Hotel Marketing Blog
by cody
6M ago
Earning a direct booking is a lot of work. From setting up your website to property photos and expensive marketing efforts, it comes at the end of a long chain of events, nearly all of which are under your direct control. But then the time comes to process a payment and realize revenue. Suddenly, the one thing you’ve been working toward—a conversion on your highest-margin channel—gets handed off to a third party. It doesn’t make much sense. Track Payments takes third parties out of the equation. It’s a payment solution fully integrated into Track PMS, and it’s coming in early 2024. What makes ..read more
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Two Ways to Save Time on Reviews Management
TravelNet Solutions | Hotel Marketing Blog
by cody
6M ago
In a previous blog, Why Reviews Management Matters for Short-Term Rentals, we made the case that diligence is key when reading and responding to reviews, and that the time commitment is worth it. But how much time is too much? Some large TNS clients have dedicated staffers to manage reviews and/or social media. If you’re not in that boat, you probably spend at least a few hours each week logging into half a dozen platforms to read and respond to reviews. That’s on top of other guest communications that may or may not be automated, like replying to web inquiries or phone calls. Many factors co ..read more
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