As affluent globetrotters seek out not just destinations, but unique properties catered to their elevated lifestyles, it’s no surprise that the luxury rental vacation market is on the rise. The United States has become the mecca of the global vacation rental market with industry experts anticipating over $100 billion in revenue and 10.7% growth throughout 2024 alone.
Despite the short-term rental (STR) market’s upward trajectory, high-end renters have reported disappointment with legacy players. Properties listed with other major action rental services that are marketed as luxury locales online often fail to meet the rigorous standards that sophisticated hotels hold themselves to.
Wander is positioned to disrupt the vacation rental market for the better. With its roster of unique high-end properties located across the country’s most sought-after destinations, Wander has set itself apart from the luxury STR competition. Wander is approaching profitability by the end of 2024 despite only just having turned three years old in May.
The company’s rising reputation as one of the rental market’s leading choices has been guided by the expertise of founder and CEO John Andrew Entwistle. Entwistle’s own let-down experiences as a luxury vacation rental client drove him to seek a targeted solution for the entire industry. Plagued with frustrating issues like poor-quality linens and unreliable WiFi, Entwistle created Wander in 2021 with the singular goal of bringing hotel-level quality and consistency to the luxury STR market.
Unlike the inconsistent fares listed on other major vacation rental platforms, all 90-plus locations in Wander’s curated portfolio have transparent pricing and occupancy rates. All properties are held to meticulous company standards ensuring clients receive a 5-star vacation experience they’d expect from a major high-end hotel. Wander pairs all the comforts and privacy of a luxury home like hotel-grade cleaning, privacy, 24/7 concierge services, mega-fast WiFi, modern workstations, and smart-home tech present in every rental. This allows clients to rest easy during the booking process knowing exactly what features and amenities they’ll receive upon arrival.
Thanks to this model, Wander has cornered customers from both the luxury hotel and vacation rental markets, making the most of the $1.3+ trillion lodging industry and creating a whole new category of reliable luxury rentals in turn.
Wander’s CEO John Andrew Entwistle said, “Wander is creating a new category that combines what people love about luxury hotels and private vacation homes without all the stuff they don’t – and pulling demand from both markets.”
Wander’s offering has resonated not only with guests but also investors, allowing the company to pull in $40 million+ in investment in just 3 years — including from celebrities like Kevin Durant and Jake Paul. Beyond its high-profile endorsements, Wander has continued to attract elite clientele through prescient advertising tactics like TikTok and Instagram content creation, SEO implementation, email marketing, and guests’ organic social media posts.
Behind the scenes, the Wander team’s strategies have been integral to its success and path to profitability by maximizing revenue streams through rental income and premium services. The company has implemented targeted plans to navigate the current economic climate in general, the slowdown in the STR market amid record levels of inflation, the 4.9% decline in Revenue per Available Room (RevPAR), and the post-pandemic supply chain issues. From leveraging software to solve the historically human heavy property management process to diligent hiring practices, careful cash burn management, and cost control across property management and maintenance, Wander’s day-to-day and long-term business operations are handled with every bit of painstaking detail as given to its extensive property portfolio.
Matt Kowalewski, Wander’s Chief of Staff and first employee, said “Wander has created a radically better travel experience by reinventing and verticalizing the components of the vacation rental industry – delivering consistency and quality to our customers.”
Technology plays a pivotal role in helping Wander streamline operations and enhance the guest experience. Innovations such as Wander AI have revolutionized traditional practices, leading to significant reductions in overhead and boosts in revenue. Features like automated check-ins and dynamic pricing models expedite processes and optimize profitability. Additionally, Wander AI leverages functionalities like Split With Friends to simplify group travel by allowing expenses to be easily shared among friends.
Combining luxury, comfort, and profitability in one fell swoop, Wander’s impeccable standards across its roster of hotel-grade rental properties have positioned the company as a major player in the luxury vacation rental industry, uniquely poised to maximize the United States’ continually growing status as the most lucrative rental market in the world.
For more on Wander, visit Wander’s website and Instagram to discover your next luxury vacation rental today.
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