The 3rd Annual Data and Revenue Management (DARM) Conference will be held at the Francis Marion Hotel in Charleston, S.C., August 17 – 18, 2021. This high-level conference is designed for executives, strategists, revenue managers, marketers, and technologists, and will dive deeper than ever before into how professional vacation rental companies can maximize revenue.
Since revenue management is about selling the right product at the right price at the right place to the right customer at the right time, we realized that marketing and channel management is critical to strategic success. Consequently, this year, we’re adding a Distribution and Marketing Track with 11 sessions to address the customer-facing side of the equation.
We’re also excited to share that this year’s emcees will be Sarah and T podcast hosts, Sarah Bradford and Tim Cafferty. Besides making revenue optimization fun, Sarah and Tim will bring their in-depth knowledge of the challenges property managers face and will be able to lead relevant Q&A with our presenters. We are also bringing back the popular New Features Battleground in which technology providers will “fast pitch” their new features while a panel of PM “judges” will ask hard-hitting questions.
This year, DARM will be held at the Francis Marion Hotel. Built in 1924, this historic hotel is located directly on Charleston’s King Street just 20 minutes from the airport and within easy walking distance to many of Charleston’s most famous dining options, attractions, architecture, and nightlife. The DARM room rate at the Francis Marion Hotel is only $129 per night (plus taxes and fees), and the room rate codes can be found exclusively on vrdarm.com.
In the vacation rental industry, revenue optimization strategies are transforming in front of our eyes.
Our industry was thrown into the deep end as the whiplash from COVID-19 provided many vacation rental managers the opportunity to move the needle with the expert use of data, executing pricing strategies, and quick pivoting in marketing.
In the past, property managers determined pricing based on fixed seasons and days of the week. Now—and looking ahead to 2022—to maximize profitability and occupancy, managers find themselves needing to:
- Understand all the types of data available for PMs
- Analyze key performance indicators (KPIs)
- Segment properties and create competitive (comp) sets
- Build revenue management strategies
- Establish rate rules
- Learn to maximize the use of technology solutions
- Optimize marketing and distribution channels
- Monitor and evaluate performance with a watchful eye on profitability
It’s not easy, and the industry is only beginning to establish advanced best practices for vacation rental revenue optimization.
This year, we are adding 4 tracks of education:
- Technology and Data (performance, demand, comparative, competitive, property, guest, homeowner, and people data)
- Distribution and Marketing
- Foundational Revenue Management
- Advanced Revenue Management Strategies
The DARM conference has been instrumental in bringing the top minds in data and revenue management together to move the industry forward. For example, at the first conference, we were able to get all the tech providers on the same page with RevPAR calculations. In the second year, we were able to push the demand for competitive sets which many tech providers added this year. This is a unique opportunity to be in “the room where it happens.”
With over 45 educational sessions, a great location, amazing food, and our first opportunity to see each other in person again as an industry, we’re working hard to make DARM an event you simply won’t want to miss!