The Challenge of Managing Vacation Rentals Across Multiple Markets

William Parry
2/13/2024

Ambitious property managers who want to diversify and grow their inventory, scale their business and further establish their brand often look to international markets. Working across multiple countries can bring significant advantages and profit but can also present a variety of challenges.

When ALTIDO merged with three other European companies in 2019—long before we all became Joivy last year—we spent three years managing teams across a number of countries and learned some valuable lessons along the way. Here are my tips for property managers considering expanding across borders:

Internal Structure

It’s really important to quickly establish an effective leadership team. A well-defined management structure with delegated powers speeds up decision-making processes and ensures in-market teams follow instructions and guidance. Recruiting a CEO and COO to coordinate and manage groups of staff, together with an independent person to chair the board, can help to drive a business forward, see things from a wider perspective, and positively influence the way a company is run.

Business Culture and Language

When working with teams in other countries you will obviously face a variety of business cultures and alternative ways of working. The language barrier can also be a challenge when working internationally. Investing money on regular trips to meet your teams in person is expensive, but it is vital to overcome these challenges. Long trips where you can really get to know your colleagues, understand the challenges they have, and talk at length face to face builds trust and confidence.

Staff Resistance

Change can be difficult for well-established teams who have been used to working in their territory for many years. Merging or acquiring companies often means that in-market teams, who were used to reporting to someone in the same office, could now be managed by someone in an entirely different country. For them, that’s a big change. In order to consolidate and unify businesses, it’s not just their technology that needs to change; their systems and processes often have to change, too. Understandably, this can lead to staff hesitancy and resistance. Communication is the key to overcoming these challenges. Weekly calls, where the vision for the company and the benefits that are now available to staff—including career progression or the potential to travel or relocate—are communicated really helps to motivate and unite a team.

Regulation Differences

While regulatory changes can be challenging, expansion across multiple markets can benefit businesses as they are less exposed to the impact of new legislation in a single market. Where there is new regulation, having teams on the ground in all the localities means there’s a good understanding of their impact and requirements, and these can be planned for and worked around. Diversifying inventory within countries can also help to reduce regulatory impacts.

Acquiring gives property management companies an opportunity to quickly expand their market presence, diversify property portfolios, and access new markets. Merging with a company that is already established also provides immediate and important insights into regulations and business cultures. My advice would always be, if you can afford to acquire, do.

William Parry

William Parry founded ALTIDO in 2019 following a merger of four European vacation rental companies across four different countries - England, Scotland, Italy and Portugal. In 2022 ALTIDO was acquired by DoveVivo, alongside France’s Chez Nestor, and became the largest property management company on the continent with a portfolio of over 10,000 beds. The company has most recently united under one brand ‘Joivy’.