RealPage Launches KigoHospitality™ for Multifamily Short-Term Rentals
July 16 2018 - 8:00AM
Business Wire
Kigo®, a RealPage company and a leading provider of vacation
rental booking and channel management platform, announced today the
launch of KigoHospitality. The new offering, which is launching
after successful pilot and Beta programs with existing RealPage
clients, is expected to provide apartment owners and operators with
a comprehensive technology platform to effectively manage
short-term rentals. The platform is intended for properties that
want to allocate between 5 and 30 units to short-term rentals and
cannot afford on-site staff to manage the hospitality
experience.
KigoHospitality has been deployed at 45 apartment units in a JPI
property, known as the RealPage Suites, located near RealPage
headquarters in Richardson, Texas. Clients interested in evaluating
KigoHospitality will be attending a series of KigoHospitality
Workshops that begin by experiencing KigoHospitality in the
RealPage Suites.
Steve Winn, Chairman and CEO of RealPage
“Apartment owners with only a few units available for short-term
rentals do not have the infrastructure to support a great guest
experience and the systems to efficiently handle guest screening,
insurance, agreements, taxes, regulations, cleaning services,
access control and 24-hour contact center services. KigoHospitality
provides a cost-effective way for apartment owners with a limited
number of short-term rental units to capitalize on the significant
shift in consumer behavior away from hotel accommodations to
short-term apartment rentals.”
Matthew Hoffman, Senior Vice President of Kigo
“According to the Phocuswright study, the U.S. short-term rental
market, which is estimated to reach $40 billion by 2019, is
currently facing supply shortage challenges resulting from rising
traveler demand. While apartment owners and managers across the
country have vacant apartments that can easily meet the pent-up and
growing demand, they are faced with unique challenges that make
entering the short-term rental market too risky. Now, thanks to the
launch of KigoHospitality, we are enabling apartment owners and
operators to easily create and manage short-term rentals with
hotel-like quality and consistency while adding a new revenue
stream.”
Keith Dunkin, Senior Vice President of Asset Optimization at
RealPage
“KigoHospitality provides a real opportunity to optimize supply
and demand through the secondary revenue stream that short-term
rentals can deliver. Just as important, pushing inventory out of
the long-term rental pool helps constrain supply, which YieldStar
and LRO monetize for owners in the form of higher rents.”
About Kigo
Kigo is a globally-trusted, web-based, scalable platform that
provides vacation rental managers with all the critical features
they need, including reservation management, distribution,
marketing, revenue management, eSignature and websites, in one,
easy-to-use, single solution. Designed to maximize revenue and
streamline operations, Kigo allows vacation rental managers and
owners to spend less time managing more properties. Now
KigoHospitality is addressing the needs of apartment owners and
operators that want to capitalize on the consumer shift from hotels
to short term accommodations.
About RealPage
RealPage is a leading global provider of software and data
analytics to the real estate industry. Clients use our platform to
improve operating performance and increase capital returns. Founded
in 1998 and headquartered in Richardson, Texas, RealPage
currently serves more than 12,400 clients worldwide from offices
in North America, Europe and Asia. For more
information about the company,
visit https://www.realpage.com.
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RealPage Investor RelationsRhett Butler,
972-820-3773RealPageMediaRelations@realpage.com
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