Recently, there has been a proliferation of news reports about the rapidly growing vacation rental market, still considered to be in its infancy. The industry has also been facing increased scrutiny related to the misrepresentation of properties and less-than-ideal guest experiences. These reports often cited complaints by local communities, especially as it relates to noise and other disturbances in neighborhoods, often in upscale communities in popular summer destinations, such as the Hamptons.
StayMarquis has been addressing these issues from the beginning. Founded in 2014, the full-service, vacation rental company provides marketing, booking, rental management and concierge services for guests and homeowners. With luxury home sales slowing, StayMarquis is fielding record-breaking inquiries from guests looking to spend time in the Hamptons but who are weary of buying in this market.
“Today, guests are demanding an extra level of hospitality that hasn’t historically existed in the vacation rental space, creating a lot more work for owners. At the same time, owners want to rent their homes but don’t want to be bothered,” said Bryan Fedner, co-founder of StayMarquis. “Our proprietary platform eliminates these problems from both sides. Our clients want a 5-star experience in the Hamptons without the hassle, and that’s what we deliver.”
Last month, the company kicked off the 2019 Hamptons season with an unprecedented number of bookings for the summer. Over 3,000 renters booked properties through the company for the first month of the season alone. StayMarquis is known for the caliber of its homes. This summer, they forecasted over 12,000 guests, with almost 400 exclusive homes available for discriminating consumers looking to vacation on the East End. The company is dedicated to managing the entire vacation rental process for homeowners, with an understanding and consideration to the unique environment of every community.
“Homeowners with their properties on the market, particularly in certain areas of the Hamptons, are struggling with oversupply and irregular pricing like I haven’t seen in a long time,” said Chad Gessin, vice president of Chatham Development Company. “Renters have great choices right now, and savvy owners have an opportunity to generate income and gather valuable feedback from guests – all increasing the likelihood of selling their homes.”
From the beginning, StayMarquis’ mission has been all about establishing safeguards and processes that eliminate the typical concerns in this industry. Cities and states have been grappling with the vacation rental market, which has exploded worldwide. The travel industry research group Skift reported last year that worldwide short-term rentals grew more than 80%, from $46 billion in sales in 2012 to $83 billion in 2017. In the same period, hotel room sales increased 27%, from $404 billion to $512 billion.
Alex Goldstein, co-founder of StayMarquis, has been focusing on the operational side of the business to address concerns shared by many property owners.
“Homeowners need a leg up on their neighbors and shouldn’t try to fly solo when renting their properties,” Goldstein said. “We handle everything from marketing to pricing and overall strategy to maximize an owner’s exposure and income. These factors are critical to being successful in today’s market. Our use of a revolutionary technology platform benefits homeowners and is making a difference.”
Recently, the company started to build its “Luxe” program, which will roll out in the fall, targeting the 1% and serving the growing demand for the ultra high-end vacation rental experience. StayMarquis, though, has already been catering to this market, even before the company started rolling out the program.
“Owners reap the benefits of working with a company that takes away the stress commonly associated with renting while guests arrive at a home with full-service concierge services a mere phone call away,” Fedner added. “We provide vacationers with everything they can possibly need, including experienced staff members that are local and know the market better than anyone else.”
