Photo credit: Rentyl Resorts
Rentyl Resorts Founder and CEO Nick Falcone recently spoke with high life and discussed the origins of her business and how it stands out in the hospitality industry.
“Around the world, Rentyl Resorts elevates vacations by combining the comforts of home with the premium services and amenities of an upscale resort,” Falcone said. “The company is not a timeshare program. There are no points to buy, presentations to watch, and no hoops to jump through. Rentyl Resorts organizes homes in or connected to resorts around the world that meet a standard level of excellence and offer unique experiences and services not found in other rental companies. Homes in the collection include houses, villas, condos, townhouses and apartments. Rentyl Resorts also partners with major brand companies in select destinations.
Photo credit: Rentyl Resorts
High Life: Could you please explain the background of your business and how Rentyl Resorts started?
Nick Falcone: Before starting the company, my brothers and I started a company 11 years ago and became founding franchisees of a company called BurgerFi. About four years after BurgerFi launched, my dad mentioned over the dinner table that he realized that so many home buyers in the Orlando area were exclusively interested in renting out their homes. rather than living there. He suggested to me and my brothers that the short term rental business might be something we could capitalize on. The idea stuck in my head, so about a week later I decided to do some research and find out what it was like to do a short term rental. I had never used Airbnb at that time.
Although every rental is different, for the most part every experience was poor and unorganized. After conducting this research, this idea became all the more interesting. I thought, ‘Well, if it’s like this in the industry, we could do 10 times better.’
So, three months after that dinner conversation, I approached my dad and told him that I had set up an entity and a rental company. Eventually I moved my whole family to Orlando, rented a house for a while, wrote the business plan, hired a consultant to help me understand the hospitality market, and the rest is up to me. ‘story.
High Life: Explain what sets Rentyl Resorts apart.
Nick Falcone: First and foremost, we offer a better way to vacation in a home. If you look at the market today, you have to go to one of the major distribution channels to rent accommodations, such as Airbnb or Vrbo, you have to play the travel agent and search dozens of accommodations before finding good. And even when you find the right one, often times it may not appear as in the pictures etc.
With us you come to Rentyl Resorts and live a complete resort experience with brand standards. Each home will be exactly as it appears and decorated to brand standards. Each home is associated with a resort experience and resort amenities. That means you’ll have a full check-in experience, restaurants, pools, spas, and more. Instead of having to play travel agent and look for all these things in the local ecosystem, it’s all contained within the resort.
You will have someone to attend to your needs 24/7, making sure you are safe and everything goes smoothly during your stay. You get the best of both worlds, where you get all that friendliness under one roof while you’re on vacation.
Photo credit: Rentyl Resorts
High Life: To what would you attribute the reason you were the first to offer homes in a resort?
Nick Falcone: I would say vertical integration. Some companies have positioned themselves as a management company, others have positioned themselves as a distribution channel. No one has really positioned themselves as a brand like us. The way I differentiate myself as a brand is that it’s going to help with pre-station deployment, whether we’re renovating a station or building a brand new one, a brand will set the standards and the foundation to let our team know the path to follow.
Being the first to work with a full complex, we knew we had to understand the needs of the developer. Once that’s settled, you have to have the right technology. This allows us to take houses and adapt them to go on any distribution channel. This is important because only 15% of the global travel market actually booked through residence distribution channels. Although we have a lot of people with a hospitality background, we have a lot of employees who don’t necessarily come from the traditional hospitality industry, but come from other aspects of hospitality and are able to take the best practices from restaurants or other hospitality businesses and translate that into a hotel.
Finally, the fact that we weren’t that big meant that we didn’t have to shrink a whole lot. So for Marriott, Hilton, Airbnb – they all told me they could never do what we’re doing because they’d either have to pull out hundreds of millions of dollars in tech spending to go a different route, or they should say to all of their franchisees on the hotel side, ‘hey, we’re going into a new line of business and we’re going to put a ton of money into marketing this new line of business, and that might take away from us what we ‘can do for you guys.’
Photo credit: Rentyl Resorts
High Life: What are your goals for the company in the near future?
Nick Falcone: In the near future, I want to create as many sites as possible around the world. I want people to know that when they think of the Rentyl Resorts brand, they will get a better form of vacationing in a home while being able to go anywhere you want without being limited to certain markets.
My ultimate, long-term goal is that I want to be able to give anyone who is a disparate inventory player on the Airbnb and Vrbo platforms the ability to match with hotels or residential clubs, so that now instead from being viewed as a limited service home, we are able to partner you with hotels or residential clubs where you extend your product into these and get the amenities of resort service. In this way, we are able to provide owners with a better way to monetize their unit while providing more inventory for vacationers to enjoy in a resort setting.
Subscribe to discover your city’s best kept secrets
Comments are closed.