Vacasa sees nearly 12% increase in vacation rental bookings thanks to Matterport
Vacasa rental ad with Mattertag
Vacasa Presents Matterport Digital Twins in 89% of Ads
Main features of the vacation rental platform Matterport digital twins in 89% of listings to differentiate properties, increase bookings and deliver exceptional customer experiences
SUNNYVALE, Calif., September 28, 2021 (GLOBE NEWSWIRE) – Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced that Vacasa, the leading vacation rental management platform in North America, which has reached an agreement to become a publicly traded company through a business combination with TPG Rhythm Solutions (NYSE: TPGS), increased its booking conversion rate on Vacasa.com by nearly 12% * with Matterport’s immersive digital twins.
Almost 90 percent of Vacasa’s more than 30,000 real estate listings today include Matterport’s photorealistic and dimensionally accurate digital twins. This allows guests to virtually walk around a property with stunning realism, as if they actually were there. According to Vacasa, customers who search online spend three times as much time looking at real estate listings that feature a Matterport digital twin.
âSince adding Matterport to our website, we’ve seen incredible feedback,â says Caleb Donegan, vice president of digital at Vacasa. âPartnering with Matterport is a simple and cost effective way to deliver a better vacation rental experience for guests and more bookings for our owners. “
With Matterport, Vacasa has digitized over 64 million square feet since 2015, allowing customers to interact with multiple properties and virtually walk them from room to room. They can share Matterport spaces with their friends and family and be sure to book the right vacation home for their needs.
For less than the cost of a professional photoshoot, Matterport offers a 3D digital twin, photographs, floor plans and teaser videos for better merchandise rentals on social media and online channels.
âMatterport is incredibly easy to use, so we don’t need to send a professional photographer or camera crew to our vacation homes. Learning to use Matterport’s technology only takes a few minutes, and anyone can scan a home with a variety of cameras or smartphones, âDonegan said.
âMatterport is a proven growth engine for Vacasa. The data clearly shows that higher engagement levels lead to more bookings, âsaid Bill Linehan, who leads the global travel and hospitality strategy at Matterport. âThere is no better way to deliver a true high definition 3D experience than with Matterport. Customers feel more assured of their choices by having more personalized online experiences, while owners see higher occupancy rates. Everybody wins.
The adoption of the Matterport digital twins has also enabled Vacasa to provide its customer experience team with more information about each property and to provide better customer service. For example, customer experience agents can use highly detailed digital twins to help customers solve other issues over the phone, as they can view the layout of the home online.
* Booking conversion data reflects the period from September 2019 to September 2021.
Vacasa is the leading vacation rental management platform in North America, transforming the vacation rental experience by integrating specially designed technology with local and national teams of experts. Homeowners enjoy significant additional income on one of their most valuable assets, thanks to the company’s unmatched technology that adjusts rates in real time to maximize revenue. Customers can comfortably relax in more than 30,000 Vacasa homes in more than 400 destinations in North America, Belize and Costa Rica, knowing that 24/7 support is just a phone call away. In addition to enabling customers to search, explore and book their properties on Vacasa.com and the Vacasa Guest app, Vacasa provides valuable and professionally managed inventory to major channel partners including Airbnb, Booking.com and Vrbo. In the summer of 2021, Vacasa reached an agreement to become a listed company through a business combination with TPG Rhythm Solutions (NYSE: TPGS), a special purpose acquisition company (âSPACâ).
For more information visit https://www.vacasa.com/press
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our revolutionary spatial data platform turns buildings into data to make almost any space more valuable and accessible. Millions of buildings in more than 150 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle, from planning, construction and operations to documentation, evaluation and marketing. Learn more about Matterport.com and browse a digital twins gallery.
Â© 2021 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners.
Senior Director, Communications
Soohwan Kim, CFA
Vice-President, Investor Relations
This document contains certain forward-looking statements within the meaning of federal securities laws, including statements regarding the benefits of the business combination, the services offered by Matterport, Inc. (âMatterportâ) And the markets in which Matterport operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and Matterport’s projected future results. These forward-looking statements are generally identified by the words âbelieveâ, âplanâ, âexpectâ, âanticipateâ, âestimateâ, âintendâ, âstrategyâ, âfutureâ, âanticipateâ. “,” Opportunity, “” plan “,” may “,” should “,” will “,” would “,” will “,” continue “,” will probably result “and similar expressions (including negative versions of these words or expressions).
Forward-looking statements are predictions, projections and other statements regarding future events that are based on current expectations and assumptions and, therefore, are subject to risks and uncertainties. There are many factors that could cause actual future events to differ materially from the forward-looking statements contained herein, including the expected benefits of Vacasa’s use of Matterport’s digital twins, Matterport’s ability to execute business plans , forecasts and other expectations in the industry in which Matterport competes, and identifies and realizes additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Matterport from time to time with the United States Securities and Exchange Commission. These documents identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in forward-looking statements. Forward-looking statements speak only as of the date on which they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and Matterport assumes no obligation and, except as required by law, does not intend to update or revise such forward-looking statements, that whether as a result of new information, future events, or otherwise. Matterport gives no assurance that it will meet its expectations.
A photo accompanying this announcement is available on https://www.globenewswire.com/NewsRoom/AttachmentNg/9dcd83a9-b43c-481b-934c-1d01c2fff1e5