As the Outer Banks vacation rental market matures from a high-growth market to a highly-efficient model and the vacationing public becomes more aware of so many vacation choices, asking simple collective questions about defining the future of success in the region becomes more and more important.
We know from experience that true creativity in unlocking the future comes only from collisions of the art and science within the travel business.
In order to challenge the present, as an industry and region we’ll need to look further and further afield for creative sparks and vibrant partnerships to maintain the economic engine of the Outer Banks tourism industry.
Twiddy & Company, in conjunction with a wide range of diverse partnerships, was proud to host a small gathering this past weekend at the Sanderling Resort in Duck that focused on the data science and analytic frontiers of our visitor experience and the revenues around operating a vacation rental home. This forum, one of several small customer-facing forums in the coming months, was specifically intended to collide creative perspectives from the fields of research, markets, government partners, revenue technology, and business execution.
Featuring speakers from research-driven NC State University, global analytics leader and North Carolina based SAS Analytics Software, global customer engagement leader Salesforce, and one of the original founding members of travel insurance giant Generali Global Assistance (formerly CSA Travel Protection), the forum highlighted not only the future of the travel industry but also the technological capabilities and insights that are guiding the industry toward tomorrow.
Attended by a wide range of vacation rental homeowners, government partners, industry leaders, and our own asset management professionals, the event confirmed the importance of strategic partnerships in creating better visitor value and more profitable revenue outcomes based on shared definitions of what data analytics can show us about the future.
Technological breakthroughs, whether da Vinci’s Mona Lisa or Steve Jobs’ iPhone, are unlocked only at the intersection of art and science. While we know much of the visitor experience of the future, competitive opportunities remain around strategic partnerships, applied technological innovation, and specific science applied at scale to individual Outer Banks visitors.
In reflecting on the success of the forum and the challenges ahead, Twiddy & Company President Clark Twiddy noted that “Abraham Lincoln nailed it when he said that united we stand and divided we fall. That’s true in so many industries and ours is no exception–it’s only through investing our time, talent, and treasure in real partnerships that we’ll be able to peer into the future of our tourism economy. If we can combine the insights of data at scale, and apply those insights one at a time, we’ll be seeing a profitable future based on a remarkable visitor experience for years to come.”