Marriott, Int'l is Officially Getting Into the Homesharing Business

[MULTIZ321]

Marriott is Officially Getting Into the Homesharing Business.


https://skift.com/2019/04/29/marriott-is-officially-getting-into-the-homesharing-business/


Richard

 

[controller1]

Very interesting report. Thanks Richard!

 

[SueDonJ]

Note this new Homes & Villas partnership is between MAR and property management companies for cash/Bonvoy Points stays.

MVW has been contracting for several years with Third Home and others offering private homes/villas via DC Points usage, available to Executive and higher level DC Members in the Explorer Collection.

 

[Fasttr]

Note this new Homes & Villas partnership is between MAR and property management companies for cash/Bonvoy Points stays.

MVW has been contracting for several years with Third Home and others offering private homes/villas via DC Points usage, available to Executive and higher level DC Members in the Explorer Collection.

One slight tweak.... I believe Third Home is Presidential and above. I believe HHI Private Home and Villas of Distinction are Executive and above.

 

[Ralph Sir Edward]

Starting to compete with AirBNB.

https://www.cnbc.com/2019/04/29/mar...l-platform-to-compete-with-airbnb-report.html

 

[SueDonJ]

One slight tweak.... I believe Third Home is Presidential and above. I believe HHI Private Home and Villas of Distinction are Executive and above.

Thanks for the correction.

 

[MULTIZ321]

Airbnb's Newest Neighbor in the Home Rental Space: Marriott Hotels.


http://fortune.com/2019/04/29/airbnb-marriott-international-home-rentals/


Richard

 

[Old Hickory]

This looks good for those who regularly rent vacation homes through a management company. I'll be interested in seeing the new offerings.

 

[bobpark56]

This isn't all that new. Marriott has been renting apartments in Lisbon for at least 2 months now.

 

[controller1]

This isn't all that new. Marriott has been renting apartments in Lisbon for at least 2 months now.

Actually this is new. Marriott's previous venture was a trial run. Their partner in that venture is not continuing as a partner in Homes & Villas.

 

[Carol C]

I just read about this in the Washington Post (Marriott's HQ is in neighboring Bethesda MD).

I think Marriott is trying to milk profit out of any and all sectors of vacation rental markets. Air BnB must have looked so enticing to Marriott, they had to do it on their own. They might be shooting the larger timeshare resorts in the foot...and I'm not sure how many more they're building from scratch, either. But in a way they'll be competing with themselves...folks have only so much $ for vacations and so little time. And families are shrinking, at least in the USA, and generally folks don't need 3+ bedroom lodging options.

My prediction though...if this turns out to be a success for Marriott...and it will take a few years for them to see the numbers...they will make a bid to take over Air BnB, buy them out or merge with them. Only time will tell, but the Marriott brand is always pushing for more market share, more profits, more visibility. (Why do I have a PacMan image in my mind?)

 

[TravelTime]

Shouldn’t a public corporation be trying to make a profit and expand market share? If I am a shareholder, that is what I want. As a customer, I generally like it too because it provides more options if a company is constantly trying to innovate with better product offerings. Why do so many Tuggers accuse corporations of being greedy when this is what capitalism is designed to do? If it weren’t for corporations/developers, there would be no TUG marketplace being able to buy resale timeshares for a fraction of the cost of what someone else paid. If we really did not care about profits, then perhaps we should be paying the folks who a lot more when we buy their timeshares on the resale market? How about offering 3/4 of the original purchase price to help out the person who can no longer afford their timeshare? We do not do that because we want to maximize our own profits too. In a way, every family system is a mini-corporation seeking to maximize profits and expand market share. Marriott and Disney and others are only “greedy” because we the consumers want their products and are willing to pay.

 

[Old Hickory]

I just read about this in the Washington Post (Marriott's HQ is in neighboring Bethesda MD).

I think Marriott is trying to milk profit out of any and all sectors of vacation rental markets. Air BnB must have looked so enticing to Marriott, they had to do it on their own. They might be shooting the larger timeshare resorts in the foot...and I'm not sure how many more they're building from scratch, either. But in a way they'll be competing with themselves...folks have only so much $ for vacations and so little time. And families are shrinking, at least in the USA, and generally folks don't need 3+ bedroom lodging options.

My prediction though...if this turns out to be a success for Marriott...and it will take a few years for them to see the numbers...they will make a bid to take over Air BnB, buy them out or merge with them. Only time will tell, but the Marriott brand is always pushing for more market share, more profits, more visibility. (Why do I have a PacMan image in my mind?)

I'm fairly certain that Marriott has no interest in the individual homeowner home-share business (which is Airb&b's core business). But if they can get some of the managed vacation home rental business, then why not? Why build on Pawley's Island, SC when you can get some of the existing home rentals that are already there?

As a Bonvoy member, I look forward to the additional property offerings.

As an owner of Marriott shares, I hope they are interested in more market share, more profits, more, more, more.

 

[Pathways]

Shouldn’t a public corporation be trying to make a profit and expand market share? If I am a shareholder, that is what I want. As a customer, I generally like it too because it provides more options if a company is constantly trying to innovate with better product offerings. Why do so many Tuggers accuse corporations of being greedy when this is what capitalism is designed to do? If it weren’t for corporations/developers, there would be no TUG marketplace being able to buy resale timeshares for a fraction of the cost of what someone else paid. If we really did not care about profits, then perhaps we should be paying the folks who a lot more when we buy their timeshares on the resale market? How about offering 3/4 of the original purchase price to help out the person who can no longer afford their timeshare? We do not do that because we want to maximize our own profits too. In a way, every family system is a mini-corporation seeking to maximize profits and expand market share. Marriott and Disney and others are only “greedy” because we the consumers want their products and are willing to pay.

Scratching my head here, did you post in the wrong thread? Can't find any comments that use 'greed' or anything else that could be taken as discouraging profits in any of the posts. (unless they edited them out before I read)

 

[Fasttr]

Scratching my head here, did you post in the wrong thread? Can't find any comments that use 'greed' or anything else that could be taken as discouraging profits in any of the posts. (unless they edited them out before I read)

I’m thinking it was this excerpt in the post right above TravelTime’s post.

“I think Marriott is trying to milk profit out of any and all sectors of vacation rental markets.”

 

[Pathways]

I’m thinking it was this excerpt in the post right above TravelTime’s post.

“I think Marriott is trying to milk profit out of any and all sectors of vacation rental markets.”

Thanks - you may be correct. Guess someone could take that as a negative, although from reading the entire post I did not

 

[Luvtoride]

I just read about this in the Washington Post (Marriott's HQ is in neighboring Bethesda MD).

I think Marriott is trying to milk profit out of any and all sectors of vacation rental markets. Air BnB must have looked so enticing to Marriott, they had to do it on their own. They might be shooting the larger timeshare resorts in the foot...and I'm not sure how many more they're building from scratch, either. But in a way they'll be competing with themselves...folks have only so much $ for vacations and so little time. And families are shrinking, at least in the USA, and generally folks don't need 3+ bedroom lodging options.

My prediction though...if this turns out to be a success for Marriott...and it will take a few years for them to see the numbers...they will make a bid to take over Air BnB, buy them out or merge with them. Only time will tell, but the Marriott brand is always pushing for more market share, more profits, more visibility. (Why do I have a PacMan image in my mind?)

I don't see anything negative about this. By Marriott adding their name and quality standards (as long as they can be maintained) to this industry, it will add many more potential customers to a market that is obviously large and growing. I don't know about most of you (us) here, but the reason I'm a MVC owner and a MR Titanium member is that I appreciate the quality that the Marriott name represents. I know that I would have never rented through AirBnb, not knowing what type of quality accomodations / neighborhood I might be staying at, but now I'd be more likely to explore this type of vacation rental with the Marriott name on it. There are certainly places I would like to vacation where there is not an MVC resort, where I'd like something bigger/ better than a hotel room to stay in. I applaud Marriott for continuing to explore and offer more options to its guests/ members to travel to more places.

 

[controller1]

I don't see anything negative about this.

I think the biggest negative is from the viewpoint of the Marriott franchisees who have been battling AirBnb and similar at the city council level for several years as they see it siphoning business from them. I'm sure it's a hard pill to swallow to now have Marriott part of what the franchisees have been battling.

 

[MULTIZ321]

The Coolest Pads Now Bookable on Marriott's New Homesharing Service.


https://www.afar.com/magazine/the-coolest-pads-now-bookable-on-marriotts-new-homesharing-service.


Richard

 

[dansimms]

The initial homes that I checked are super high end. Nothing most people could touch. I hope it evolves to the point where it will be useful .

 

[Fasttr]

Just received a Marriott email launching this with this link.....

https://homes-and-villas.marriott.com/?nck=107500674&ck=23694438&lk=1000337549

 

[bazzap]

Just received a Marriott email launching this with this link.....

https://homes-and-villas.marriott.com/?nck=107500674&ck=23694438&lk=1000337549

I have just been searching for options here in Europe, as we have just the 5x MVC resorts to choose from now.
For the countries I have looked at so far, I haven’t been able to find anything under $1,000 per night and most places were far more!
i am struggling to see when I might see the benefit in using these?

 

[Luvtoride]

Has anyone heard of Inspirato? It is basically a "club" that sells memberships (similar to timeshare ownership) that allows members access to RENT luxury homes and hotel rooms around the world. This is exactly the market that Marriott is getting into with this initial marketing of their "homesharing service". This certainly is NOT an Airbnb model.

The one villa I looked up in Fasttr's link above was for a 5 bedroom villa in St. Johns that starts at $2,950/ night. I can see some benefit to us when Marriott starts including these homes as options for MVC members to book with DC points. Still will be pretty rich, but with planning for a big splurge family or friends vacation (and maybe sharing in the points contributing to the stay) this could offer some awesome vacation alternatives in places Marriott would never undertake building a new resort. It will be interesting to see how this develops going forward.

 

[billymach4]

Has anyone heard of Inspirato? It is basically a "club" that sells memberships (similar to timeshare ownership) that allows members access to RENT luxury homes and hotel rooms around the world. This is exactly the market that Marriott is getting into with this initial marketing of their "homesharing service". This certainly is NOT an Airbnb model.

The one villa I looked up in Fasttr's link above was for a 5 bedroom villa in St. Johns that starts at $2,950/ night. I can see some benefit to us when Marriott starts including these homes as options for MVC members to book with DC points. Still will be pretty rich, but with planning for a big splurge family or friends vacation (and maybe sharing in the points contributing to the stay) this could offer some awesome vacation alternatives in places Marriott would never undertake building a new resort. It will be interesting to see how this develops going forward.

I just spent Memorial Day weekend at one of these Inspirato properties with DS and DIL inlaws and DW and I.
DS got into this a few years back with his business partner. Honestly I did not pay much mind to this and did not even
research.

Let me tell you this experience was off the charts. The property was fabulous and luxurious. His kids had a blast.
There were 3 bedrooms with king beds, Sauna, Pool, Hot Tub and the list goes on.

We all had a blast.

He mostly books within 2 - 3 weeks of arrival due to the constraints of the reservation model. Not like us who normally plan 6 - 12 months out. Also I might add that DIL delivered 3rd baby boy about one month ago.

We got wind of this plan less than 2 weeks ago while we were still at Ocean Pointe. So essentially last minute plan.

The weather was fabulous as well. This last weekend will be preserved in our collective memories forever

 

[DRH90277]

From the perspective of a Vacation Club points owner, is this just another option for using points like outsourced tours, a cruise, etc? I'm hopeful this venture will be on the side as only an option and will not directly impact the Maintenance Fees for those who own points. I'm also trying to understand whether this is intended to be available to Abound point owners at all. Sometimes I get confused as between offerings of the various entities with Marriott in the name.

I really don't want to attend a sales presentation to learn about this.