Ever dreamed of buying an investment property for short-term vacation rentals? Whether you’re setting up shop in Columbia, SC, or in a Rochester, NY, apartment, we found experts to share their stories and offer valuable lessons they’ve learned along the way to help newcomers troubleshoot short term rental problems with practical solutions. Read on to learn how to turn your property into a five-star rental.
1. Expanding your network in the STR landscape
“I have been a realtor since 2009, primarily specializing in selling investment properties used as short-term rentals,” shares Danny Margagliano from Destin Property Expert. “Recently, my wife and I purchased our first condo, which we are self-managing as a short-term rental property. One of the most significant challenges we encountered at the outset was selecting a Property Management Software (PMS). With numerous companies available online, the decision can be overwhelming. A valuable piece of advice I can offer is to join larger Facebook groups dedicated to short-term rental properties, Airbnb, or VRBO. These groups provide access to experienced hosts who are more than willing to offer assistance.”
2. Navigating a competitive market with trifecta-like customer service
“Having worked for a decade in a fiercely competitive vacation rental market like San Diego – first as a property manager and now as a business owner – I’ve pinpointed three pivotal aspects that spell success for your enterprise,” shares Jeff Nisuis, owner of Titan Beach Rentals
“Firstly, customer service must reign supreme for both your guests and owners. We prioritize responding to guest messages and calls within an hour, while also ensuring monthly reviews or updates for owners.
Secondly, a well-rounded tech stack is indispensable for achieving this feat. This begins with implementing a property management system such as Guesty to streamline and automate your company’s workflow and communication.
Lastly, the cornerstone of it all is accurate pricing. Employing a dynamic pricing tool to automate nightly rates and monitor market trends and demands not only saves time but also enhances pricing precision, revenue, and occupancy rates.”
Courtesy of Titan Beach Rentals
3. Offering virtual guides and demonstration videos
“Every home in our program is unique, and it’s impossible to keep track of every quirk in each home without a system. One of our secrets to successfully addressing guest questions is dedicating time to create a virtual guide for each property,” recommends Hilton Head Rentals. “Most guest queries can be resolved using our virtual guide. Even if guests don’t use the guide, we rely on it to swiftly and accurately respond to their questions.
We also produce a series of ‘quick and dirty’ videos demonstrating how to operate certain unique features in the homes, such as turning on the oven hood, adjusting the thermostat, or activating spa jets. It’s somewhat amusing to revisit our own videos months later to remind ourselves how things work in specific houses. This approach reduces the need for dispatching personnel, saving us money, and enables us to promptly enhance the guest experience by promptly addressing their inquiries.”
Courtesy of Hilton Head Rentals
4. Turning a million-dollar setback into success with rapid recovery and communication
“’I’m not going to lie, we are really freaking out over here’, the owner confessed to me two weeks after I signed her property – my first valued over one-million dollars. Unbeknownst to all of us, their previous management company canceled all bookings in June and July upon switching, resulting in the loss of nearly 30-thousand dollars in expected revenue,” shares Joel Harris from Port Aransas Airbnb Vacation Rental Property Management by Grand Welcome.
“The lessons I learned along the way are one, when confronting challenges, formulate a plan using the tools at your disposal and relentlessly execute it. Within 24 hours, our ads were up and running. I maintained constant communication with the owners, updating them about our progress, actions, and results two to three times daily. As our ads gained momentum, I shared our analytics daily and later on a weekly basis. After three days, we secured our first booking. Another followed just two days after. Gradually, the pressure eased as reservations steadily flowed in.
Second, maintain frequent and transparent communication, substantiated with real data and examples. In the absence of information, our minds concoct stories. To counter this, we provided our owners with detailed and factual information about the issue at hand. We outlined the steps we were taking to resolve it, employing regular and effective communication. And behold, despite starting from scratch this summer, the property that had us ‘freaking out’ became one of our top earners.”
5. Crafting unique spaces and thoughtfully designed rooms
“At Urban Sands we strive to curate a unique experience at each one of the properties we manage. We spend a lot of time with our interior designer, Theresa Danna at Designed to a T. Together we are able to create inviting spaces that help maximize booking revenues for our clients. Finding the most reliable vendors, cleaners, and admin in our area has really helped us overcome any challenges that are thrown at us,” suggests Chloe and Bryce Mayer, Owners of Urban Sands Vacation Rentals.
Courtesy of Urban Sands Vacation Rentals
6. Embracing technology for extra booking and revenue growth
“As a vacation rental property manager, the biggest challenges I experienced were two-fold – homeowners and guests. The most common issues several of my homeowners had in the past were related to bookings and revenue generation,” shares Kristian Lewis from New Braunfels Airbnb Rental Property Management by Grand Welcome.
“At Grand Welcome we ensure our properties are being highlighted and getting exposure on over 40 national and international travel websites to provide homeowners with consistent marketing growth. Additionally, we use dynamic pricing algorithms to establish optimal pricing based on seasonality, demand, and market trends within our region. For guests, we want to provide high-level boutique service during every phase of their visit from booking to check-out, so we have dedicated guest service teams who are available 24/7 to assist with any questions, issues, and concerns almost immediately.
Each of our properties is equipped with an in-home concierge tablet that includes a welcome guide with detailed self-check-in instructions, local recommendations, and contact information for our local team. The implementation of comprehensive software, at all levels, not only improved guest and owner satisfaction but also increased efficiency, revenue, and retention. Embracing technology while creating personalized touch points has been pivotal in elevating our brand and the overall experiences of owners and guests who utilize our vacation rental management services.”
7. Focusing on local expertise in vacation rental management
“As a vacation rental property manager, we are constantly working to improve the entire experience of the guests we host, as well as the owners that we partner with. As we look to stay ahead of the ever-evolving industry, we are focused on differentiation by being experts in our market,” suggests Compass Vacation Properties.
“We focus on local recommendations, things to do, behind-the-scenes activities and hidden treasures in our communities. This solution not only improves guest satisfaction but also drives interest in, and business to many of our fellow local small business owners. Embracing the impact of the community has been instrumental in enhancing our guests’ experiences and improving our vacation rental management operation.”
8. Automating and integrating processes for success
“At Landlord Studio, we believe that embracing technology isn’t just about convenience – it’s about transforming the way you think about your rentals,” suggests Charles Chan, CEO of Landlord Studio. “Integrating solutions into your property management not only creates new efficiencies but is also a key step in developing your portfolio into a scalable and profitable business. Therefore, whether you have one or a hundred units, it’s essential that you possess the right tools – tools designed for you – to help you stay on top of everything from income and expense tracking to managing cleaning and maintenance.”
9. Maximizing value in challenging times with consistent occupancy
“During challenging times, it’s often the core and simplest strategies that produce the most consistent value and return to homeowners. While a small percentage of all homes can hold the same rates year-over-year, or even increase them, that’s not the case for a majority of homes,” says Portoro.
“Every home in the short-term rental market is its own product line with 365 opportunities to generate a sale. That means that occupancy is the primary driver of revenue, and not nightly rates. Smart property management means having the operational infrastructure to successfully produce a full calendar even at lower daily rates.
This helps the property manager and homeowner achieve the following:
Total revenue generated close to or at year-over-year expectations
Ability to maintain the property as an STR under portfolio (avoid long term rental (LTR) discussion)
Steady stream of income to maintain operations, housekeeping, and vendor relations”
10. Streamlining rental management processes through online platforms
“Embracing technology is a critical stride towards achieving success in the vacation rental industry. As technology providers, we are dedicated to helping hosts and vacation rental businesses regain valuable time and boost their bottom line. Often, property operators find themselves consumed by tasks like addressing guest queries, managing calendars, pre-arrival guest communication, and coordinating cleaning services,” says Fred Bassili, Marketing Manager at Hostfully.
“However, the implementation of suitable technology can drastically reduce or even eliminate these laborious duties. The impact is profound – we’ve witnessed business owners trimming over 100 hours of weekly work to just a few hours, or attaining consistent five-star reviews by bolstering efficiency and preventing errors. When seeking technology solutions, it’s essential to define your specific challenges, attend multiple demos, and ask pertinent questions during these sessions. Since vacation rental software is not one-size-fits-all (each has strengths and weaknesses), finding the best fit for your business is paramount”
11. Setting a price strategy
“The short-term rental market has become extremely competitive and saturated with an increase of supply following the pandemic. The increase in vacation rental rental supply has created an environment where nationwide occupancy has decreased year-over-year compared to prior years. As a result many owners and operators have decreased their nightly rates to try to increase their bookings,” says Sean Bakhtiari, Founder of Seacoast Vacation Rentals.
“We have a different strategy. First, we’ve invested in new amenities and design features to make our properties standout from the crowd and create better guest experiences. Secondly, although our portfolio occupancy rate dropped slightly (four percent year-over-year), our overall revenue grew seven percent thanks to “Average Nightly Rates,” increasing by 11 percent. When many owners and operators have been reducing their nightly rates, we’ve increased them and simultaneously reduced our minimum nightly stay requirements. This flexibility has been extremely beneficial for all our properties, in this more competitive environment.”
12. Maximizing revenue and guest satisfaction
Master Vacation Homes focuses on reducing maintenance costs for owners and maximizing rental income. We are one of largest property management companies in Orlando with over 500 properties boasting the highest returns in the industry.
Here’s a few reasons we are able to bring above average returns to our clients:
Revenue management: We have a team responsible for pricing the homes that follow a strategic methodology that focuses on high occupancy X high daily rates.
Superior home care: Currently we have 16 Property Managers caring for 30-40 homes each. They are responsible for the inspection of each check-in, dealing with all things related to the care of their homes and the investors that own each property.
Operations and guest support: Our logistics operations are unmatched by the competition. We have designated field teams for each city area limited by a certain amount of homes so they are not overwhelmed. Our guests have support just minutes away if an emergency occurs.
Setting a target market: Over time we learned one of the most important lessons so far. We needed to say no to clients that were not aligned with the way we operated and with our philosophy. Firing clients is counter intuitive, because as a business, you always want as many clients as possible. But in this industry, every owner wants to impose their wishes and demands on how they think their home should be managed. It turns out, it is impossible to manage multiple homes differently. After a few years of experience and seeing what works best, we slowly transitioned to work solely with investors rather than the traditional owner of vacation homes. This solidified our identity as a Management Company and allowed us to focus in the areas we excel.
Courtesy of Master Vacation Homes
13. Researching markets before you enter
“We cannot stress enough how important it is to do your research first before you start your vacation rental business,” recommends Mashvisor. “The industry is more competitive than ever, so you need data, and not just observations or hearsay, to help you in making decisions. Many users of our platform end up being surprised to find out that their first choice of location might not be as lucrative as they thought. So they’re glad to have used a real estate analytics website to not just confirm or deny their initial hypothesis but to also help them find another vacation rental market to invest in.”
14. Prioritizing customer service and resolving problems quickly
“While being the owner of MATCH Property Managers, we have experienced many challenges in the vacation rental side of the business, but have worked diligently as a team to overcome the challenges associated with renting vacation properties. Guests sometimes have maintenance issues while on vacation, and we have found that top-notch customer service can easily derail any problematic issues that could create a bad review for your rental company,” suggests MATCH Property Managers
“The key advice for vacation rental managers is to maintain 24/7 availability for guests in case of issues. Utilize answering services for prompt communication. Always respond with appreciation, conveying that guest satisfaction is a top priority. Actively listen to guests, gather necessary details for repairs, and apologize for any inconvenience. Keeping $25.00 gift certificates on hand showcases care for guest experience. Avoid showing inconvenience at guest calls, as respect can be lost. Post-issue resolution, follow up with guests to ensure their comfort. Ultimately, prioritize creating a memorable and enjoyable vacation experience.”
Courtesy of MATCH Property Managers
15. Hiring local property managers for out of state STR owners
“After working in the short-term rental industry for over 13 years now, we have discovered that the most successful vacation rental properties have engaged owners. To help owners who live in another town or state from their rental property take advantage of this, we developed a hybrid property management system,” shares Scott Westfall, Owner of CGP Real Estate.
“This provides responsive on-site management through a local team, while the owner manages their online presence and booking preferences. Giving owners a way to be hands-on while operating long-distance has helped them increase bookings, revenue, and guest satisfaction by providing the personal marketing touch guests are looking for – without sacrificing quick and professional response to on-site management and guest needs.”
16. Adapting to changing market conditions
“As a vacation rental property manager, a common challenge we face in Panama City is trying to compete for occupancy during off-season. Coming out of COVID restrictions in 2021, Panama City Beach finds itself in a very saturated market regarding Vacation Rentals. Occupancy has taken a hit and as new rentals continue entering the market, everyone’s peak season seems to be getting shorter,” says Panama City Beach Airbnb Rental Property Management by Grand Welcome.
“Our approach was to implement a hybrid system of renting short-term during the summer, and mid-term during the late fall and winter. To do this we not only appeal to the Snowbird crowd, but also to the overlooked traveling professional industry. This has helped keep business on the books when otherwise we may have faced vacancies.”
17. Fostering repeat visits
“We established Vacation Rentals of North Myrtle Beach due to local companies lacking urgency and professionalism. With a modest start, we now manage 130+ properties in 13 years. Our focus is on collaborating with property owners, acting as partners to nurture their business,” Barefoot Resort Vacations suggests.
“As hands-on owners, we and our dedicated team strive for exceptional guest experiences, aiming for repeat visits. Any issues during stays are promptly communicated, demonstrating our commitment to swift solutions. Challenges arise, but we face them with an open mind and humor. Our motto for owners: everything is fixable, repairable, and paintable – we’re determined to deliver a sense of urgency and professional results.”
Courtesy of Barefoot Resort Vacations
18. Increasing bookings with The Big Three
“After more than $100 million in guest bookings over the course of my career in vacation property management, we’ve discovered a combination of property features which maximize guest interest, boost rental rates, and extend occupancy in nearly every market. Internally known as ‘The Big Three,’ the combination of ‘pets, water, fire’ is the insider secret,” suggests Wes Walker, CEO of Popersum.
“Pet friendly properties routinely generate 20% (and sometimes more) than non pet properties. A water feature, such as a hot tub or modern pool, natural water view, or even an elaborate fountain also captures online attention and generates higher bookings and rates. Finally, fire as in a photographic fireplace or a fire feature near seating, extends most seasonality and produces higher interest. By combining The Big Three, competing with the traditional ‘location, location, location’ properties is not only possible, but often an outperforming combination.”
19. Forecasting a conducting thorough inspections
“Effective vacation rental management encompasses more than just maintaining the property. We’ve embraced a forward-thinking approach, consistently conducting inspections to preemptively tackle any looming issues. Coupled with technological tools, such as predictive analytics, we’ve been able to forecast high-demand periods, ensuring optimal occupancy and unwavering quality. This comprehensive strategy has solidified our reputation as a reliable choice in Austin,” recommends STR Management.
20. Nurturing a versatile team
“As is true with any business, your employees are critical to your success. We are a relatively small vacation rental management company so when hiring our reservationists and managers, we look for people who are willing and able to be a jack-of-all-trades and exhibit the flexibility and smarts to jump in on whatever is needed and to expect the unexpected,” recommends Beach-N-Bay Getaways.
21. Adopting a software management platform when you expand
“The primary focus for property managers should be on delivering excellent experiences for guests and homeowners. However, the complexities of managing monthly statements, booking inquiries, and pricing strategies can often divert attention from this vital role. As portfolios grow, pursuing excellence becomes even more challenging, and guest reviews may slip,” shares Gather Vacation Rentals.
“At Gather, we’ve confronted these challenges firsthand. Our solution extends beyond a mere set of tools; it’s a comprehensive partnership designed to streamline various facets of property management. This includes simplifying financial reporting through an integrated accounting system, efficiently handling inquiries, creating optimal pricing strategies backed by real-time data, and enhancing marketing efforts through targeted campaigns. Moreover, we offer risk and portfolio management insights, provide business development resources to fuel growth, and support a robust tech stack that aligns with the evolving needs of the industry.”
Commercial real estate experts, seasoned investors, and highly successful new agents joined us last month to share what’s working for them in today’s competitive markets. On this episode, we share some of July’s best real estate podcast clips. Discover incredible guests you may have missed last month so that you can go back and catch their interviews in full. We also highlight some of the industry’s biggest news stories, including one suggesting that real estate will save the U.S. economy.
Listen to today’s show and learn:
Home Sales Surge Thanks to Record-Low Rates [0:42]
The Power of Positive Habits [3:27]
Want More Real Estate Clients? Read the News! [7:38]
Vacation Rentals, Airbnb, and Investor Clients [10:38]
The Industry’s Most Rewarding Niche: First-Time Home Buyers [15:05]
Mortgage Rates Dip Below 3 Percent: Now Is the Time to Invest in Real Estate [18:51]
Overcoming Adversity for Millions in Annual Sales [23:15]
Will Real Estate Save the Economy? [27:53]
Related Links and Resources:
Thanks for Rocking Out
Thank you for tuning in to Pat Hiban Interviews Real Estate Rockstars, we appreciate you! To get more Rockstar content sent directly to your device as it becomes available, subscribe on iTunes or Stitcher! Reviews on iTunes are extremely helpful and appreciated! We read each and every one of them, please feel free to leave your email so that we can personally reach out and say thanks! Have any questions? Tweet me, Facebook me and ask Pat anything. Don’t forget to head on over to Bare Naked Agent for Pat’s answers, and advice. Thank you Rockstar Nation, and keep rockin!
For anyone looking for a savings opportunity while traveling, the nation’s largest retailer has just launched a new booking platform for its members that can help with just that.
Walmart+ Travel (powered by Expedia) is now live, allowing members to book flights, rental cars, hotels, vacation rentals, activities and more. But the best part? You can get up to 5% Walmart Cash on these purchases.
This new benefit adds to an already lucrative lineup of benefits for Walmart+ members.
Here’s everything you need to know about this new offering.
Overview of Walmart+ Travel
As noted previously, Walmart+ Travel is powered by Expedia, and it’s available through your Walmart+ account and at WalmartPlusTravel.com. It’s a great way to get extra benefits on virtually all aspects of a trip. When you book directly with Walmart+ Travel, you’ll receive Walmart Cash on your travel purchases at the following rate:
5% Walmart Cash on hotel bookings, vacation rentals, rental cars and activities.
2% Walmart Cash on air travel.
If you book a vacation package that includes two (or more) of these items, you’ll earn Walmart Cash at a blended rate (e.g., 2% on the air travel part of the purchase and 5% on the other parts).
Your Walmart Cash will appear as “pending” in your Walmart+ account before becoming available within 30 days of the completion of your trip. You have the option of using it for future Walmart purchases or receiving it as cash back in your pocket.
Walmart+ Travel is available now for existing Walmart+ members as well as new ones. You’ll even have access to it if you sign up for a free 30-day trial of the program — allowing you to test it (and the many other benefits of Walmart+) before committing to a full membership.
How to use Walmart+ Travel
To access Walmart+ Travel, simply visit walmartplus.com and sign in to your account. You’ll find the Walmart+ Travel tile in your member hub. Simply click “Book a Trip,” which will take you to the Walmart+ Travel site, which is powered by Expedia.
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From there, search for your desired travel arrangements — including flights, rental cars, hotels, vacation rentals and packages. You’ll clearly see the amount of Walmart Cash you’d get for each type of booking.
Select the reservation(s) you want, then follow the on-screen instructions to finalize the booking.
Once you receive the confirmation, you’ll see your Walmart Cash listed as “pending” in your Walmart+ account within 48 hours.
Thirty days after the completion of your booking, your Walmart Cash will change to “redeemable” and can be applied to future Walmart purchases — or received directly as cash back.
Remember that airline tickets purchased through a third-party platform like Walmart+ Travel are typically treated like normal revenue tickets and thus are eligible to earn points or miles. You should also enjoy any elite status perks you have with the given airline — though this often isn’t the case with major hotel and rental car programs.
Using Walmart+ Travel with other member benefits
Of course, Walmart+ Travel is just the newest benefit for members, and it adds even more value for those taking to the skies (or hitting the roads) this summer.
For example, Walmart+ members enjoy free shipping with no order minimum (excluding most Marketplace items and certain location and freight charges). This allows you to stock up on travel essentials ahead of a trip you book with Walmart+ Travel — and you can even use any available Walmart Cash for these purchases.
For example, for those without a Walmart+ membership, these packing cubes would require a trip to your local Walmart for in-store pickup or cost $6.99 to ship.
However, Walmart+ members could have these shipped directly to their home address — and most items will arrive within one to two days.
If a road trip is in your future, you can also leverage Walmart+ fuel savings at more than 14,000 stations nationwide. This can give you 10 cents off every gallon of gas at participating locations (5 cents in Alabama and Oklahoma; subject to change).
Finally, when you arrive at your destination and settle into your hotel or vacation rental, you can launch your included Paramount+ streaming subscription (Essential plan only; separate registration required).
How to join Walmart+
If you’re not currently a Walmart+ member, you can become a member by visiting the Walmart+ website and clicking the link at the top to start your free 30-day trial.
Remember that holders of The Platinum Card® from American Express can receive a statement credit each month when they charge the monthly cost of a Walmart+ membership ($12.95 plus applicable taxes) to their card (enrollment required; Plus Ups not eligible).
As soon as your account is activated, you’ll be able to start receiving Walmart Cash for bookings through Walmart+ Travel — and access the various other benefits of membership.
Related: How to get Walmart+ with the Amex Platinum
Bottom line
Walmart+ Travel (powered by Expedia) is the newest benefit for Walmart+ members, offering up to 5% Walmart Cash on eligible bookings made through the platform. This enhancement allows Walmart+ members to save money on virtually every aspect of their travels, with Walmart Cash that can cover future Walmart purchases or be redeemed directly for cash back.
If you’re not a member, join today — and then begin receiving Walmart Cash on your next trip.
Here at TPG, we’re all about maximizing every dollar you spend. Often, you can accomplish that by using the best credit card to enjoy the highest return for a specific purchase. But sometimes, you can go a step further.
Enter “double dipping,” or the practice of earning two different types of points on a single transaction. Taking advantage of double-dipping opportunities will help you accelerate your points-earning — bringing you that much closer to your dream award trip.
Below, we’ve outlined some of our top double-dipping opportunities that you can (and should) work into your everyday points practices.
Use online shopping portals
One of the simplest ways to double dip is to use shopping portals for your online purchases. These third-party sites partner with various retailers to give you points, miles or cash back when you click through their links. This is in addition to the points and miles you earn from putting the transaction on your credit card. So, you earn one bonus from the portal and another from your card.
No matter what type of points you’re trying to earn, there’s likely a portal out there that will suit your needs. Several airlines and hotel chains have their own portals, as does Chase Ultimate Rewards. Meanwhile, Rakuten allows you to receive your earnings in the form of American Express Membership Rewards points as an alternative to its usual cash back. You can even earn a one-time $30 bonus by joining Rakuten and spending $30 in the first 90 days.
Not sure which portal to use? Try using a shopping portal aggregator such as Cashback Monitor to compare earning rates across numerous portals for a given retailer.
Join restaurant rewards programs
Dining out can be a lucrative activity by itself, with cards such as the American Express® Gold Card offering 4 points per dollar on worldwide restaurant purchases. But it’s also an opportunity to double dip using airline and hotel dining rewards programs.
Once you register, participating restaurants will automatically award you points or miles when you pay for a meal with a linked credit card. Once again, these earnings are on top of the points or miles you net just for purchasing with your credit card.
There’s just one key thing to remember: Each of your credit cards can only be registered for one dining program, so you can’t earn through two airline or hotel programs for a single purchase.
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Related: How to earn 1,000 Southwest points the next time you dine out (or order in)
Earn more with Uber and Lyft
Whether you use Uber or Lyft, you can make your rides more valuable by linking certain rewards accounts to earn points on every ride.
With Lyft, you have several choices when it comes to earning bonus points or miles, though you must select one of the following as your designated loyalty rewards partner:
Note that Chase also partners with Lyft. So, in addition to selecting one of the above programs, you can use an eligible card — like the Chase Sapphire Reserve or Chase Sapphire Preferred Card — to earn up to 10 points per dollar spent on the platform. Sapphire Reserve cardholders also enjoy complimentary Lyft Pink All Access for two years.
Meanwhile with Uber, you can link your Marriott Bonvoy account and earn the following:
6 points per dollar on Uber Eats restaurant and grocery orders of $40 or more delivered to a hotel in Marriott’s portfolio
3 points per dollar on rides with UberXL, Uber Comfort, Uber SUV and Uber Black
2 points per dollar on all other Uber Eats restaurant and grocery orders above $40.
Make sure you’re also using a credit card with a great return on travel purchases; for instance, the American Express® Green Card, which offers 3 points per dollar spent on travel and transit purchases, including ride-hailing services.
Related: Frequent Uber or Lyft passenger? These credit cards are for you
Rent with Airbnb
Make your Airbnb stays more valuable by booking them through Delta Air Lines’ or British Airways’ online portals. Simply choose a program and click the booking button on its dedicated Airbnb page to rack up extra miles. You’ll earn 1 mile per dollar if you go through Delta SkyMiles and 3 Avios per dollar if you book through British Airways Executive Club. So, expensive Airbnb bookings can quickly add up to award flights.
Like with Uber and Lyft, make sure to pay with a travel credit card that earns a bonus on vacation rentals to maximize your points-earning.
Related: 12 tips for choosing the perfect beach house rental
Earn bonus United miles with MileagePlus X
This app provides endless double-dipping possibilities for those looking to rack up United miles. It awards you bonus miles for buying electronic gift cards through the app, which you can later use online or in person at shops and restaurants. This is particularly great for merchants not included in popular bonus categories on credit cards.
The deal is even sweeter for those with a cobranded United credit card, like the United Explorer Card. If you link your United card to the app, you’ll earn a 25% mileage bonus for every gift card you buy, whether or not you use that card to pay for the purchase.
The best part? With MileagePlus X, you can actually take things to the next level for a triple dip. Simply buy a gift card through the app — earning points from the app and points for the transaction on your credit card — and then use that gift card to make an online purchase while utilizing a shopping portal.
Related: Here’s why it matters which card you use to pay in the United MPX app
Leverage the American Airlines and Hyatt partnership
American Airlines and World of Hyatt have a partnership offering reciprocal points-earning opportunities to elite loyalty program members. Hyatt elites can earn 1 bonus point per dollar spent on qualifying American flights. American elites can earn 1 bonus point per dollar spent on qualifying Hyatt stays — all on top of the points and miles they’d normally earn when flying American or staying at a Hyatt.
Luckily, it doesn’t take much to nab Hyatt elite status. Just take out the World of Hyatt Credit Card for automatic Discoverist status to participate.
Related: Everything you need to know about World of Hyatt
Give RewardsPlus a go
Long before Hyatt and American joined forces, United and Marriott partnered to offer their members elevated benefits and bonus points through the RewardsPlus program.
With this program, United Gold (or higher) elites automatically receive Marriott Bonvoy Gold elite status, while Marriott Titanium and Ambassador elites automatically receive United Premier Silver status. Of course, it’s relatively easy to get Marriott Gold status with credit cards — including The Platinum Card® from American Express or the Marriott Bonvoy Business® American Express® Card. As a result, top-tier Marriott elites get the better end of this deal. Enrollment is required for select benefits.
In addition to reciprocal elite benefits, all members enjoy extra miles when transferring Marriott points to United, regardless of status. While most (but not all) of Marriott’s transfer partners receive a 5,000-mile bonus for every 60,000 Marriott points transferred, United members get 10,000 bonus miles for transferring 60,000 points. That means you can effectively convert 2 Marriott points to 1 United mile.
Leverage retail loyalty programs
While they won’t get you first-class tickets or luxury hotel stays, many sports retailers, restaurants, office supply stores and pet supply stores offer loyalty programs that you can maximize when purchasing. Most of these programs give you rewards in the form of future discounts (e.g., spend $100 and get a $5 coupon) on top of the standard earnings you’d get from using your credit card.
If you’re not familiar with these programs, you can check out our list of the nine most underrated loyalty programs.
Related: The best credit cards for buying clothes
Credit card offers and discounts
Applying for a new credit card typically comes with a large number of points or miles as a welcome bonus (after you meet the minimum spending requirement, of course). However, once you’ve opened a card, there are a number of other ways to earn bonus rewards or unlock discounts on everyday purchases.
Most of the major issuers offer a program along these lines, including:
These are targeted to each individual cardholder, and you typically must activate them before making a purchase. You also may find several obscure merchants with whom you have no intention of doing business. However, by frequently checking your online accounts, you may be able to find some good opportunities for bonuses or savings.
Here’s just a sampling of the offers that TPG staffers currently have on their cards:
An Amex offer to earn 5 extra American Express Membership Rewards points per dollar spent, up to 1,000 points
An Amex offer to earn 50% back on purchases with Dropbox
Multiple Chase offers to earn 10% back when you spend $100 with multiple Marriott brands — including Autograph Collection, SpringHill Suites and Renaissance Hotels
A Citi offer to earn 5% back on Lyft rides
You can also stack these with many of the other “dips” on this list to create a double dip or triple dip. For example, stack an Amex Offer at a nearby restaurant with a dining rewards program or an online purchase with a shopping portal.
Bottom line
There are plenty of great ways to rack up points and miles quickly, but everyday spending often gets overlooked as one of them. There are many concrete things you can start doing today that will unlock a world of rewards for tomorrow.
With these double-dipping efforts as a part of your overall strategy, you’ll build your account balances and get that much closer to your next award trip.
For rates and fees of the Bilt Mastercard, click here. For rewards and benefits of the Bilt Mastercard, click here.
Could you use some good vibes? Whether you visit the famous vortexes, explore the red rocks, or simply enjoy a hike through nature, there are plenty of things to do in Sedona, Arizona, that will send those positive vibrations your way.
This town is awash in history, natural beauty, and spiritually rich experiences. Plus there are great arts, shopping, and dining. Here, learn about the 10 best things to do in Sedona, Arizona, and how to plan your trip to make the most of your time in the Southwest.
Best Times to Go to Sedona
Sedona can get hot for summer travel, so consider planning your trip for April, May, October, or November when it’s cooler. Bonus: There are flowers to enjoy.
Here are some annual events in Sedona you might want to plan your trip around:
• April: Sedona Yoga Festival
• May: Piano on the Rocks International Festival
• July: Sedona Hummingbird Festival
• September/October: Red Rocks Music Festival
• October: Annual Sedona Rock, Gem & Jewelry Show
• November: Sedona Food Truck Festival
• December: The Festival of Lights
Bad Times to Go to Sedona
Summer can get pretty brutal in Sedona, with temperatures in the high 90s and even 100s June through August. If you’re traveling with pets, consider how the weather will impact them, especially if you go on a long hike in the dry air and high altitude.
Also, early July is monsoon season, so if you’re planning outdoor activities, there’s a chance you won’t be able to enjoy them during this period.
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Average Cost of a Sedona Vacation
If you’re planning a weeklong vacation for two in Sedona, you’ll want to budget for renting a car and paying for a hotel room, activities, and food. On average, you can expect to spend about $3,614 a week for a couple or $2,012 for a solo traveler.
Hotels typically cost between $92 and $421, while vacation rentals often run from $260 to $600 per night, but you may be able to bring the whole gang or family.
Many of the best things to do in Sedona are free, so you won’t break the bank finding activities, but you do have to calculate how much it will cost you to get to and from Arizona. If a plane ticket will be involved, this could be a good moment to sign up for an airline credit card and earn some rewards or discounts.
Also think about whether you’d like to buy trip insurance. You may be covered by credit card travel insurance, or you may want to buy a separate premium to protect your investment in your vacation.
10 Fun Must-Dos in Sedona
If you’re saving your travel fund and thinking about your Arizona adventure, here are the top 10 things to do in Sedona based on recommendations from those who have recently visited, as well as top-rated attractions from travel review sites. There’s something for everyone, whether you are spiritual, sporty, or live to shop.
1. Take a Vortex Tour
Sedona is known for being a vortex hotspot. A vortex is considered to be a concentration of earth energy that you can feel in certain spots and may enhance meditation and self-knowledge. There are hikes like the Airport Mesa Vortex where you can try to feel the vortexes yourself, or you can take a tour.
There are many companies that offer vortex tours, including Sedona Spirit Journeys & Vortex Tours. The advantage of taking a tour with a guide is that they have permission to visit certain sacred sites that you won’t be able to access on your own, and they’re very knowledgeable about the vortexes. A three-hour tour for two people costs $194 each. You can use your plastic and earn some credit card rewards when paying. spiritjourneysofsedona.com/tour-journeys
2. Visit Tlaquepaque Art & Shopping Village
After your vortex tour, get your retail therapy on at the adorable Tlaquepaque Art & Shopping Village. This village is reminiscent of Old Mexico and houses art galleries, boutiques, and restaurants. You might linger till nighttime and enjoy a romantic dinner at René, an upscale French restaurant. tlaq.com/
3. Follow a Wine Trail
A fun thing for couples or groups to do in Sedona (or more precisely, just outside of Sedona) is wine tasting in Verde Valley. Cool off in the shaded patio of Javelina Leap Winery with a tasting flight, or watch Oak Creek gurgle by at Page Springs Cellars over a bottle of New Mexico Pinot Gris and a picnic. visitcottonwoodaz.org/wine-trail.html
4. Go for a Hike
Sedona is an outdoor enthusiast’s dream come true. A fun activity is to hike to see the many uniquely-shaped red rocks, like Snoopy Rock, Cathedral Rock, or Coffee Pot Rock, which looks just like what its name implies.
This amazing landscape will leave you with loads of memories, whether you hike for an hour or a full day. Plus, hiking is a free thing to do in Sedona, which can be a way that families afford to travel.
5. Book a Jeep Tour
Not in the mood to hike? One of the local Jeep tours, like the 60+-year-old Pink Adventure Tours (pinkadventuretours.com/), can get you out into the natural beauty of Sedona that you might not otherwise see. From one of these rugged vehicles, you can better appreciate the cliffs and ravines while (depending on which tour you take) learning about the lives of the indigenous Sinagua people or seeing where Hollywood Westerns were filmed. Prices start at around $79 for adults for a 90-minute tour.
6. Explore a Wild West Town
Just outside of Sedona is the not-to-be-missed Wild West town of Jerome. How can you not visit a place that was called “The Wickedest Town in the West”?
Jerome, perched on the side of a hill, boomed in the late 1800s, thanks to its copper mines, and was a hub for the best and the worst of life back then. Today, you’ll find a historic downtown with cute boutiques, art galleries, and restaurants. Start your morning with an indulgent breakfast at The Clinkscale, followed by a few hours of shopping and exploring. The first Saturday of each month, from 5 pm to 8 pm, there’s the Jerome Art & Wine Walk. jeromechamber.com/
Recommended: How Does Credit Card Travel Insurance Work?
7. Spiritual Reading
Take advantage of Sedona’s plethora of spiritual practitioners by having a tarot card or palm reading, going on a shamanic journey, or having your aura read. You can also have a reiki healing, a sound bath, or learn about transformational breathwork. If you’ve ever been curious about such pursuits, Sedona can be a great place to explore and experience them.
8. Meditate at Amitabha Stupa and Peace Park
Step out of Sedona and into Asia at the Amitabha Stupa and Peace Park. This beautiful park welcomes people of all faiths and is a wonderful place to walk, meditate, or pray. The Stupa, a dome-shaped structure, is 36 feet high and is said to bring visitors happiness and protection. tara.org/amitabha-stupa/
9. Have a Spa Day
A Sedona vacation, by its very nature, demands relaxation. What better way to slow down than to book an individual or couple’s massage at one of Sedona’s many spas?
Or you might try something different by experiencing a sweat lodge at Sedona’s New Day Spa, or pick the Time for Two package at Amara Spa.
10. Get Arty
Sedona draws (pun intended) artists from all around the world, who yearn to capture its famous red rocks and endless vistas. See exhibits at the Sedona Arts Center, which features 100 local and regional artists. You can also purchase jewelry, art, and photography made by the artists, and, if you’re an artist yourself, there are workshops and classes you can participate in. sedonaartscenter.org/
The Takeaway
Sedona offers nature, healing, and spirituality, as well as the chance to unwind from your busy life. The problem is: You won’t want to return home! Whether you are looking for an active getaway or something more relaxing, you’ll find it among the beautiful red rocks, along with great cultural attractions, shopping, and dining.
Whether you want to travel more or get a better ROI for your travel dollar, SoFi can help. SoFi Travel is a new service exclusively for SoFi members that lets you budget, plan, and book your next trip in a convenient one-stop shop. SoFi takes the guessing game out of how much you can afford for that honeymoon, family vacation, or quick getaway — and we help you save too.
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FAQ
How long should I spend in Sedona?
You can see and do a lot in just three to five days in Sedona, including hiking to the famous red rocks, getting a massage or spiritual reading, shopping, and enjoying great cuisine.
What are some hikes in Sedona?
There are hikes for every level of expertise, including the Airport Mesa Vortex, Cathedral Rock, Bell Rock Climb, and Fay Canyon.
Can I find a vortex by myself in Sedona?
There are trails that you can hike to find vortexes in Sedona like the Airport Mesa Vortex, though taking a guided tour may help you discover vortexes in protected areas you can’t visit on your own.
Photo credit: iStock/bboserup
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Whether you’re thinking of renting a beach home or planning a multifaceted trip requiring a flight, hotel stay and car rental, you now have an opportunity to earn rewards, receive discounts and reach elite status through a new loyalty program.
Expedia Group brands including online travel agencies Hotels.com, Expedia and vacation rental site Vrbo are joining forces for a program called One Key.
One Key has replaced the existing travel rewards programs used by Hotels.com and Expedia. The inclusion of Vrbo makes it the first loyalty program among major vacation rental sites as well.
Note that there are some limitations around booking through an online travel agency, and previous Hotels.com Rewards loyalists may find earning a free night is more difficult under the new program.
However, for some travelers, One Key will provide an avenue to earn rewards for almost every element of their trip, from flights to hotels to vacation rentals to experiences.
Here are some things to know about the One Key program.
How the One Key loyalty program works
The One Key program combines the booking possibilities from three sites into a lot of earning potential. It’s probably most beneficial for the more infrequent travelers who may not stay or fly enough with one brand to earn perks but could use rewards on all of their travel spending combined.
In other words, it doesn’t matter which of the three sites you’re using. Loyalty currency you earn and elite status progress you make will all count toward a single program.
Like with most loyalty programs, One Key is free to join.
How to earn rewards on Vrbo, Hotels.com and Expedia
The One Key program will use a new loyalty currency: OneKeyCash. Members will be able to earn through:
Eligible stays on Hotels.com.
Eligible rentals on Vrbo.
Eligible flights, hotels, rental cars or activities on Expedia.
Members will receive 2% in OneKeyCash for every dollar spent on eligible hotels, vacation rentals, activities, packages, car rentals and cruises and 0.2% in OneKeyCash for every dollar spent on eligible flights. That means if you spent $100 for a hotel night, you’d earn $2 worth of OneKeyCash.
🤓Nerdy Tip
You can double dip and earn more rewards by using a travel credit card to pay for your booking and adding your frequent flyer account number to any flight reservations.
The earnings rates get higher for certain hotel reservations as members earn elite status in the One Key program.
In a nice benefit for families, whichever member makes the booking earns the rewards for their whole traveling party. So, a parent reserving flights and a hotel for the whole family would earn all of the OneKeyCash for the trip.
Can you transfer OneKeyCash?
You won’t be able to transfer OneKeyCash to another member’s account. However, you will be able to book travel for another member. So, if you have OneKeyCash in your account and no plans to use it, you can book a trip for a family member or friend with your rewards.
Redeeming OneKeyCash
OneKeyCash is equal to $1. For most bookings where you pay upfront, you’ll be able to apply the OneKeyCash you’ve earned toward the cost. For example, if you had $20 worth of OneKeyCash, you could apply it to your next hotel booking on Hotels.com for a $20 discount off the total price.
There is one key exception: For flights booked with OneKeyCash, you’ll need to have enough in your account to cover the entire booking.
OneKeyCash can be used on booking participating rentals in U.S. dollars.
Earning elite status through One Key
The earnings, discounts and perks improve as you earn status in the One Key program. And because the loyalty program encompasses flights, hotels, rental cars and more, it is possible to earn elite status in just one trip.
Trip elements
Many major loyalty programs are built around revenue-based models for elite status, but One Key uses what it calls “trip elements.”
A trip element includes any of the following:
One air ticket.
One room night.
One vacation rental night.
One night on a cruise.
One day’s car rental.
One round-trip ground transportation ticket — like a taxi, shuttle, etc.
One activity ticket.
Trip elements must be worth $25 or more (not including taxes or fees) to count.
How to earn One Key elite status
Members reach elite status levels by accumulating trip elements. Here’s what it takes to qualify for each tier:
One Key status tier
Requirements to earn
One Key Blue
No benchmark; entry level.
One Key Silver
Five trip elements within a year.
One Key Gold
15 trip elements within a year.
One Key Platinum
30 trip elements within a year.
You can see how it’s possible to quickly reach status levels. Let’s say a member books the following as part of a trip:
A flight for a family of four (on Expedia) = 4 trip elements.
A seven-day car rental (on Expedia) = 7 trip elements.
A seven-night rental property stay (on Vrbo) = 7 trip elements.
Two activities during the week (on Expedia) = 2 trip elements.
This fairly ordinary vacation booking totals 20 trip elements, enough for the One Key member to reach Gold status and be two-thirds of the way to Platinum.
For any of these trip elements to count and to earn status and loyalty currency, the member will need to book while logged-in to their One Key account.
One Key elite status
Clearly, earning elite status in the One Key program is easy. But what does it get you?
Members who join the One Key program (known as Blue members from the outset) enjoy some limited benefits like discounts on some hotel stays and free price tracking. The latter is a great tool for finding the best deal.
Like with any tiered loyalty program, as you work your way up the ladder, you’ll retain the lower-tier benefits but accumulate new perks along the way.
Here are the perks for One Key’s elite status tiers:
Elite status tier
Trip elements required
Perks (accumulated by tier)
One Key Blue
None; entry-level status.
Earn OneKeyCash on eligible bookings.
Free price tracking.
10% member discounts on eligible properties.
One Key Silver
Five trip elements.
15% member discounts on eligible properties.
50% extra OneKeyCash on stays at VIP Access properties booked on Expedia or Hotels.com.
Priority traveler support.
One Key Gold
15 trip elements.
20% member discounts on eligible properties.
100% extra OneKeyCash on stays at VIP Access properties booked through Expedia or Hotels.com.
Extra perks at VIP Access properties like food and beverage discounts, late checkouts, early check-ins and room upgrades (when available).
Free price drop protection on eligible flight bookings made on the Expedia app.
One Key Platinum
30 trip elements.
200% extra OneKeyCash on stays at VIP Access properties booked through Expedia or Hotels.com.
Platinum VIP support.
One-time Expedia launch discount of 10% (good for up to $100 in savings).
Some of the most notable benefits of elite status are the perks at VIP Access properties, which are a collection of hotels that “consistently receive the highest guest reviews on Expedia Group and meet stringent standards of quality.” For flights, the price drop protection is a great way to ensure you’re getting the lowest price. If your fare drops in price, you’ll get the difference refunded to your account in the form of OneKeyCash.
Is it worth using the One Key program?
Though booking through an online travel agency or using the One Key loyalty program may not make sense for most avid travelers, it can certainly be helpful for others.
Here are a few of the benefits to consider.
Search a full range of options when booking
One of the compelling reasons to use an online travel agency like Expedia or Hotels.com is that it searches a wide range of brands. This can be helpful in finding the cheapest prices and, in some cases, alternative options like a small, family-run, boutique hotel off the beaten path.
Bundling your bookings
Another benefit of using a site like Expedia to book your trip is that it can help you keep all the details of your trip organized in one location, including the hotel stay, flight reservation and car rental. Sometimes, bundling can help you tap in to discounts, too.
Earn rewards for Vrbo stays
Even the most avid points, miles and travel enthusiasts will want to take advantage of Vrbo’s participation in the One Key program. Previously, there was no true way to earn rewards for stays at a Vrbo property (such as a beach house).
By logging-in to your One Key account when booking your Vrbo reservation, you’ll be able to earn OneKeyCash, which you could use for a future flight, hotel stay, rental car, activity or rental property.
Great for infrequent travelers hoping to earn perks
Though online travel agencies often don’t make sense for frequent travelers who are pursuing elite status and points or miles with airline and hotel loyalty programs, the One Key program can be a great way for less frequent (or less loyal) travelers to get some return on their investment.
Don’t have any hope of reaching elite status with the likes of Hilton or Marriott but planning a trip or two for the family with a car rental, Vrbo stay and maybe even a flight?
A weeklong Vrbo stay with an accompanying car rental and flight is enough to earn you Gold status. This alone could help you potentially enjoy a room upgrade and perhaps a food and beverage credit at your next hotel stay, when available (provided it’s at one of the program’s VIP Access hotels).
Earn for one thing, use for another
Likely the most notable benefit of the One Key program is that you can earn loyalty currency for one booking activity and use the rewards on another.
Booking a rental car will help you earn OneKeyCash and make progress toward elite status you can redeem or enjoy during a hotel stay. Booking a flight could help offset the cost of a future Vrbo stay. And so on.
The interconnectivity of the program across Expedia, Hotels.com and Vrbo’s platforms makes it possible to earn and redeem in a variety of ways.
Drawbacks of One Key
Though there are some enticing reasons to use the One Key program, there are some clear drawbacks — when it comes to the program itself and to online travel agencies more broadly.
Earning free nights harder than with Hotels.com Rewards
For travelers who have used the Hotels.com Rewards program through the years, the earning and redeeming setup of the One Key program may well come as a disappointment.
With Hotels.com’s previous program, you earned a free night by collecting “stamps” — one stamp for each night stayed, and 10 stamps got you a free night. The free night was worth the average of the rate of the 10 nights you stayed. So, if you stayed five nights at a rate of $50 and five nights at a rate of $100 (a total of $750 in spending), your free night would be worth $75 — a 10% return on your investment.
Under One Key, you get 2% OneKeyCash for every dollar spent at hotels and Vrbo properties — a significantly lower rate of return.
Harder to earn and use other hotel loyalty program benefits
Oftentimes when you use an online travel agency, you’re not able to earn points or enjoy elite status perks with a separate hotel loyalty program.
So, if you’re a frequent traveler who has reached (or is pursuing) elite status with a major hotel chain, note that you may not earn any points or elite qualifying credit for the stay with the hotel’s loyalty program. For this reason, avid travelers may be better off booking direct.
It is worth noting, though, that when it comes to booking flights, you will earn both airline miles and OneKeyCash.
Reservation changes can be more complicated
For instance, airline customer service representatives frequently have more limited ability to change a ticket booked through an online travel agency. While all of these booking sites do offer their own customer service representatives and, indeed, enhanced customer support for the higher-level elite status members, having a “go-between” can often be a headache.
Elite status perks limited to certain reservations
Another noticeable weakness of the One Key loyalty program is that some of the elite status perks are confined to certain types of reservations.
Sure, you can earn and redeem OneKeyCash (and earn elite status) for a hotel stay, a flight, a rental car reservation, a cruise or an activity.
However, to fully enjoy the program’s complement of elite status benefits like property credits and upgrades, you’ll need to book a hotel through Hotels.com and Expedia — and not just any hotel; it’ll need to be one of the VIP Access properties.
Recap of the One Key program
The new program is unlikely to be a groundbreaking option for the most experienced travelers. And Hotels.com Rewards loyalists may find the path to a free night a bit trickier.
But it does make it possible to earn rewards on one site and redeem on another — particularly for those who frequently rent vacation homes with Vrbo. And it figures to give even more infrequent travelers a path to elite status.
Regardless of whether you’re booking with Expedia, Hotels.com or Vrbo, be sure to use a travel credit card that offers bonus earnings categories for general travel purchases, which will allow you to rack up credit card rewards on top of your earnings in the One Key program.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
“Where are you from?” It’s a common question when you meet someone new while traveling. And it’s an easy question for most people. But for me, it’s complicated if I want to give more details than “the United States.”
After all, my husband and I gave up our Austin, Texas, apartment in June 2017, sold or donated most of our belongings and then set out as digital nomads on July 2, 2017. So, excluding some extended time living with family early in the coronavirus pandemic, we’ve traveled full time while working remotely for the last six years.
In 2020, I wrote about my first three years as a digital nomad. But in this story, I’ll look back at the past six years. In doing so, I’ll discuss how I became a digital nomad, some of my travel statistics and how travel has changed for me during the past six years.
How I became a digital nomad
On a bus from Aguas Calientes to Machu Picchu in Peru in 2013, I first heard of a gap year or sabbatical year. I hadn’t gotten into points and miles yet, but my husband and I loved the idea of taking a year off to travel after I finished graduate school. Well, fast forward four years to 2017, when it was time to leave on our “gap year.” By this time, we were already working as writers in the award travel space.
So, we hit the road as digital nomads instead of taking a gap year. And we quickly fell in love with the freedom and flexibility of the lifestyle. I appreciate experiencing different cultures, landscapes, experiences and cuisines daily. And I’ve found that frequently visiting new destinations inspires me.
I also enjoy using the topics I write about — points, miles, credit cards and elite status — on a daily basis. We make award redemptions most weeks (and often multiple times a week), and we’re constantly traveling. So, I know many of the airline, hotel and credit card programs I write about from personal experience. And I’m personally invested when these programs change or devalue their rewards.
Points and miles certainly fuel some of our travel. But we also book paid flights and nights when it makes sense. After all, we only have a finite amount of points and miles, and we’ve found that paid partner-operated premium-cabin flights are often the best way to earn airline elite status.
Related: 6 ways award travel and elite status pair well with my digital nomad life
1,121,959 miles on 575 flights
Over the last six years, I’ve taken 575 flights on 62 airlines to 180 airports in 58 countries. I’ve taken so many flights in the last six years that my flight map is difficult to read.
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I flew 1,121,959 direct flight miles in the last six years, with an average flight distance of 1,951 miles (about the distance from Atlanta to Los Angeles). My longest flight was 9,532 miles, from New York to Singapore. And my shortest flight was just 11 miles from Tahiti to Moorea in French Polynesia.
But my most memorable flight was on Sri Lanka’s Cinnamon Air from Polgolla Reservoir Aerodrome (KDZ) to Koggala Airport (KCT) on a Cessna 208 amphibious caravan.
I frequently fly American Airlines and often use Hartsfield-Jackson Atlanta International Airport (ATL) when visiting family. So, it’s not surprising that my three most frequent routes by flight segments are between American Airlines’ hubs and Atlanta. Here’s a look at my top 10 most frequent flight segments over the last six years:
New York’s LaGuardia Airport (LGA) to/from ATL: 15 flights
Dallas Fort Worth International Airport (DFW) to/from ATL: 11 flights
Charlotte Douglas International Airport (CLT) to/from ATL: 10 flights
Kuala Lumpur International Airport (KUL) to/from Kualanamu International Airport (KNO): 10 flights while I earned Malaysia Airlines Enrich Gold status in 2019
Los Angeles International Airport (LAX) to/from ATL: Nine flights
Las Vegas’ Harry Reid International Airport (LAS) to/from LAX: Eight flights
DFW to/from LGA: Six flights
London’s Heathrow Airport (LHR) to/from LAX: Six flights
Hong Kong International Airport (HKG) to/from Da Nang International Airport (DAD): Six flights booked during Cathay Pacific’s New Year’s deal in 2019
DFW to/from LAS: Five flights
And my loyalty to American Airlines AAdvantage and its Oneworld partners shows when you look at the airlines I flew most by flight segments:
American Airlines: 224 flights, including reviews of American’s A321T business class, 787-9 business class, 777-200 business class with B/E Aerospace Super Diamond seats, 787-8 Main Cabin Extra, 757-200 Main Cabin Extra and 757-200 business class
United Airlines: 31 flights, including reviews of United’s 787-8 economy class and 757-200 economy class
Southwest Airlines: 29 flights, including a review of Southwest’s 737-800 from Oakland, California, to Newark
Malaysia Airlines: 26 flights
Qatar Airways: 23 flights, including reviews of Qatar Qsuite on a 777-300ER and Qatar Qsuite on an A350-1000
Delta Air Lines: 22 flights, including when I was one of the first American tourists to fly to Italy on a COVID-19-tested flight
British Airways: 20 flights, including a review of British Airways’ A380 economy class
Cathay Pacific: 17 flights
Japan Airlines: 14 flights, including a review of Japan Airlines’ 777-300ER premium economy
Qantas: 12 flights
However, if you look at the airlines on which I flew the most mileage, the ranking is a bit different due to some mileage runs:
American Airlines: 404,296 miles
Cathay Pacific: 104,481 miles
Qatar Airways: 89,630 miles
British Airways: 53,357 miles
Delta Air Lines: 49,603 miles
United Airlines: 42,237 miles
Singapore Airlines: 36,176 miles, including a review of Singapore Airlines’ A350-900ULR premium economy
Japan Airlines: 33,756 miles
Air Canada: 30,792 miles
All Nippon Airways: 28,938 miles
I track all my flights in OpenFlights. So, although it’s relatively easy for me to gather statistics on my flights, I don’t have a simple way to determine the amount I paid in points and cash for my 575 flights during the last six years.
Related: The best credit cards for booking flights
1,103 nights in hotels
I’ve spent over half of the last six years living out of hotel rooms. In particular, I’ve spent 894 nights at 75 major hotel brands within the last six years. And I’ve spent 209 nights at other brands and independent hotels.
Here’s the breakdown of my stays by loyalty program and brand over the last six years, including notes about my favorite programs.
390 nights at 15 IHG brands
Holiday Inn Express: 120 nights
Holiday Inn: 66 nights
InterContinental Hotels & Resorts: 51 nights, including five nights at the InterContinental Hayman Island Resort in Australia, four nights at the InterContinental Phuket Resort in Thailand, four nights at the InterContinental Phu Quoc Long Beach Resort in Vietnam, three nights at the InterContinental Danang Sun Peninsula Resort in Vietnam, three nights at the InterContinental New York Times Square in New York and two nights at the InterContinental Fiji Golf Resort & Spa in Fiji
Candlewood Suites: 28 nights
Hotel Indigo: 26 nights, including five nights at the Hotel Indigo Austin Downtown-University in Texas and four nights at the Hotel Indigo Birmingham Five Points South – UAB in Alabama
Staybridge Suites: 22 nights
Crowne Plaza Hotels & Resorts: 19 nights, including three nights at the Crowne Plaza Beijing Wangfujing in China and three nights at the Crowne Plaza Times Square in New York
Holiday Inn Resort: 19 nights, including 10 nights at the Holiday Inn Resort Kandooma Maldives in the Maldives
Voco: 11 nights, including six nights at Voco Gold Coast in Australia
Regent: Nine nights
Kimpton Hotels & Restaurants: Eight nights
Six Senses: Six nights, including four nights at Six Senses Laamu in the Maldives and two nights at Six Senses Yao Noi in Thailand
Atwell Suites: Two nights at Atwell Suites Miami Brickell in Florida
Avid: Two nights at Avid hotel Oklahoma City — Quail Springs in Oklahoma
Even: One night
Over the last six years, I’ve stayed 161 paid nights at IHG properties for an average of $152 per night. The least I paid was $48 per night at the Holiday Inn Express Berlin — Alexanderplatz in Germany. And the most I paid was $1,564 per night during a review of the InterContinental Maldives Maamunagau Resort in the Maldives.
Meanwhile, we redeemed IHG points for 209 nights over the last six years, including 36 fourth-night-free rewards. On average, we redeemed 15,591 IHG points per night. We also redeemed 20 anniversary nights over the last six years, including at the InterContinental Bora Bora Resort & Thalasso Spa in French Polynesia and the Kimpton De Witt Amsterdam in the Netherlands.
You might wonder how we earned so many IHG points and anniversary nights. We maximize IHG promotions to earn points on stays. And we often buy points during IHG points sales with a 100% bonus when we can do so for 0.5 cents per point. As for the anniversary night certificates, we both have multiple IHG credit cards, so we’ve each earned two anniversary nights for most of the last six years.
We frequently stay at IHG One Rewards hotels and resorts due to the high value we often get when redeeming IHG points. But, with the launch of the new IHG One Rewards program last year, we are also getting good value from the annual lounge membership you can select through IHG’s Milestone Rewards program after staying 40 nights in a year.
Related: 9 budget strategies for getting the most out of your points and miles
209 nights at other brands and independent hotels
These days, we usually stay at major hotel brands to earn and use elite status perks and benefit from the consistency provided by these brands. But we often stayed at independent hotels when we first hit the road as digital nomads in 2017. And even now, we sometimes find ourselves in a destination without major hotel brands or where staying at a property outside our brand loyalties makes the most sense.
For example, we couldn’t pass up staying in a twin cell at YHA Fremantle Prison in Australia and a robot hotel in Japan. Likewise, staying within Addo Elephant and Kruger national parks in South Africa let us maximize our time seeing wildlife in these parks.
We often book these stays through online travel agencies since we don’t have to worry about missing out on elite status benefits and earnings while staying at properties outside our primary brands. For example, we’ll sometimes book through credit card portals to use credits, like the $50 hotel credit each account anniversary year on the Chase Sapphire Preferred Card. And we’ll occasionally book through American Express Fine Hotels + Resorts to snag extra perks and use the prepaid hotel credit we get each calendar year as a perk of The Platinum Card® from American Express. We’ll also sometimes use Rocketmiles to earn American Airlines miles and Loyalty Points on our stays.
On average, I paid $83 per night on these stays. But, my least expensive night was $18 per night for a private room with a shared bathroom at Stella Di Notte in Belgrade, Serbia. And my most expensive night was $235 per night at the RLJ Kendeja Resort & Villas in Liberia during PeaceJam.
203 nights at 21 Marriott brands
Over the last six years, I’ve stayed 140 paid nights at Marriott properties for an average of $121 per night. The least I paid was $44 per night at the Four Points by Sheraton Bogota in Colombia. And the most I paid was $350 per night during a review of the Waikoloa Beach Marriott Resort & Spa in Hawaii.
Meanwhile, we redeemed Marriott points for 49 nights over the last six years, including six fifth-night-free benefits. On average, we redeemed 16,167 points per night on Marriott award stays. We also redeemed 14 free night awards we earned through Marriott credit cards and promotions over the last six years.
Related: Here’s why you need both a personal and business Marriott Bonvoy credit card
115 nights at 6 Choice brands
Ascend Hotel Collection: 54 nights, including 28 nights at Emotions All Inclusive Puerto Plata in the Dominican Republic, nine nights at Gowanus Inn & Yard in New York (no longer bookable through Choice Hotels) and three nights at Bluegreen Vacations Fountains in Florida
Comfort: 37 nights, including 19 nights in Japan
Quality Inn: 13 nights
Cambria Hotels: Four nights
Rodeway Inn: Four nights
Clarion: Three nights
Over the last six years, I’ve stayed 34 paid nights at Choice Privileges properties for an average of $93 per night. The least I paid was $54 per night at the Comfort Hotel Airport CDG in France. And the most I paid was $239 per night at Cambria Hotel New York — Times Square in New York.
Meanwhile, we redeemed Choice points for 81 nights over the last six years. On average, we redeemed 9,531 Choice points per night. I’ve found I can get excellent value when redeeming Choice points for unique redemptions and for stays in Japan, Europe and destinations that typically feature high paid hotel rates. So, as with IHG, we often buy Choice points during sales or through Daily Getaways promotions.
87 nights at 11 Hyatt brands and partners
I didn’t stay much with World of Hyatt until the program offered reduced qualification requirements and double elite night credits in early 2021. I earned Globalist status in 2021 for far fewer nights than is usually required, but I’ve prioritized maintaining it due to the on-site perks it provides.
I’ve stayed 53 paid nights at Hyatt properties for an average of $139 per night over the last six years. The least I paid was $24 per night at the Excalibur Hotel & Casino in Las Vegas. And the most I paid was $353 per night at Hyatt House New York/Chelsea in New York.
Meanwhile, I redeemed Hyatt points for 27 free nights over the last six years. I’ve found some excellent Category 1 Hyatt hotels that provide wonderful value on award stays. So, it isn’t surprising that I’ve redeemed 5,563 points per night on average and just 3,500 points per night for nine nights. Additionally, I redeemed seven free night certificates that I earned through Hyatt credit cards, Hyatt Milestone Rewards and the Hyatt Brand Explorer promotion over the last six years.
40 nights at 10 Wyndham brands
Days Inn: 10 nights
Ramada: Nine nights
Ramada Encore: Five nights
Microtel: Five nights
Club Wyndham: Three nights
Super 8: Three nights
Viva Wyndham: Two nights at Viva Wyndham Azteca — All-Inclusive Resort in Mexico
Baymont: One night
Howard Johnson: One night
Travelodge: One night
Over the last six years, I’ve stayed 29 paid nights at Wyndham properties for an average of $103 per night. The least I paid was $48 per night at the Days Inn Guam-Tamuning in Guam. And the most I paid was $200 per night during a review of the Viva Wyndham Azteca — All-Inclusive Resort in Mexico.
Meanwhile, we redeemed Wyndham points for 11 nights over the last six years. On average, we redeemed 9,068 points per night on Wyndham award stays. And we love getting a 10% redemption discount when we redeem Wyndham points as a benefit of our Wyndham Rewards credit card, as this brings an award night that would typically cost 7,500 points down to just 6,750 points.
32 nights at 6 Hilton brands
Over the last six years, I’ve stayed 18 paid nights at Hilton properties for an average of $130 per night. The least I’ve paid was $58 per night at the Hilton Jaipur in India. And the most I paid was $168 per night at the Hilton Niseko Village in Japan.
Meanwhile, we redeemed Hilton points for eight nights over the last six years, including one fifth-night-free benefit. On average, we redeemed 46,250 points per night on Hilton award stays. We also redeemed six Hilton free night certificates that we earned through Hilton credit cards over the last six years for excellent value at the Conrad New York Midtown, the Conrad Maldives Rangali Island and the Hilton Maldives Amingiri Resort & Spa.
The average amount we redeemed per night with Hilton Honors is significantly higher than with other hotel loyalty programs. This, combined with my struggle to get more than TPG’s valuation (0.6 cents per point) when redeeming Hilton points, is why I don’t frequently stay at Hilton brands despite having Hilton Diamond status through a Hilton credit card.
19 nights at 4 Accor brands
Ibis: 12 nights
Mercure: Four nights
Grand Mercure: Two nights
Ibis Budget: One night
Over the last six years, I’ve stayed 19 nights at Accor properties for an average of $56 per night. The least I paid was $36 per night at the Ibis Muenchen City Nord in Germany. And the most I paid was $84 per night at the Ibis Madrid Alcobendas in Spain.
8 nights at 2 Best Western brands
Best Western: Six nights
Best Western Plus: Two nights
Over the last six years, I’ve stayed eight nights at Best Western properties for an average of $78 per night. The least I paid was $57 per night at the Best Western Amsterdam Airport Hotel in the Netherlands. And the most I paid was $147 per night at the Best Western Plus Mountain View Auburn Inn in Washington.
452 nights camping
When I became a digital nomad in 2017, I didn’t think there was any chance I’d camp 452 nights in the next six years. And even three years ago, I’d only spent three nights tent camping for a concert at The Gorge in Washington state and three nights in a rental RV doing a relocation from Las Vegas to Denver.
But, as it became apparent the coronavirus pandemic would affect international travel for more than just a few months, my husband and I tried out a six-night RV relocation rental in July 2020. Then in August 2020, we decided to buy the same RV model we’d relocated.
When we bought our Class C RV, we expected we’d sell it as soon as international travel to most destinations became relatively simple again. But, we discovered we enjoy working remotely from our RV while in the U.S. We’ve now spent 440 nights camping in our RV since buying it — 97 nights in 2020, 234 nights in 2021, 80 nights in 2022 and 29 nights so far in 2023.
Nineteen nights in our RV have been free at locations (like select Walmarts, select Cracker Barrels and businesses that participate in Harvest Hosts) that allow RVers to stay overnight upon asking permission. We’ve also spent 37 nights sleeping in the driveways of friends and family while visiting them.
But we usually find paid RV campsites with power and water. We’ve paid for campsites on 393 nights as follows:
171 nights at city and county campgrounds ($32 per night on average)
133 nights at U.S. Army Corps of Engineers campgrounds ($27 per night on average)
66 nights at state park campgrounds ($34 per night on average)
37 nights at private campgrounds ($52 per night on average)
Four nights at national park campgrounds ($48 per night on average)
On average, we’ve paid $33 per night for our RV campsites. The highest we paid was $104 per night at Orlando / Kissimmee KOA Holiday in Florida. And the least we paid was $17 per night at Shady Grove Campground in Cumming, Georgia, during a half-off promotion.
Related: The cheapest place to stay at Disney World is a tent — so I tried it
443 nights with family and friends
One aspect my husband and I appreciate about being digital nomads is seeing our family more than when we lived in one place. Here’s a breakdown of our nights with friends and family over the last six years:
July 2 to the end of 2017: 32 nights
2018: 90 nights
2019: 83 nights
2020: 167 nights
2021: 29 nights
2022: 27 nights
So far in 2023: 15 nights
We spent significant time with each of our parents in March through August of 2020 as much of the world locked down. However, the nights since August 2020 are lower than pre-pandemic since we now stay in our RV (either in the driveway or a nearby campground) while visiting most friends and family members.
Related: 43 real-world family travel tips that actually work
104 nights in transit
Over the past six years, I’ve spent 101 nights in flight or sleeping in airports. I typically avoid overnight flights, but sometimes overnight flights are unavoidable (and they’re enjoyable if I book a lie-flat seat or luck into a row to myself in economy).
If I have an overnight layover at an airport, I’ll book a hotel if the layover is long enough and I can find a modestly priced hotel on-site or with a free shuttle. But sometimes the layover is too short, or it just doesn’t make sense to get a hotel. In these cases, I’ll usually sleep in a lounge — ideally one with a sleeping area or at least lounge chairs — or in a Minute Suites (or a similar type of space) that participates in Priority Pass.
I’ve also spent three nights on trains, including two on the Amtrak Empire Builder from Portland, Oregon, to Chicago and one on a Trans-Mongolian train from Ulaanbaatar, Mongolia, to Hohhot, China. I thoroughly enjoyed both experiences, so it’s surprising that I haven’t taken any other overnight trains in the last six years. However, low-cost flights on many routes served by overnight trains often make flying a more convenient and less expensive alternative.
Related: 11 of the most scenic train rides on Earth
90 nights in vacation rentals
Vacation rentals are the accommodation of choice for many digital nomads, especially those who stay in each location for at least a month and appreciate having their own kitchen. And I spent 39 nights in vacation rentals in 2017 after becoming nomadic July 2.
However, one particularly bad Airbnb experience in 2018 and an increasing interest in hotel elite status caused me to switch most of my nights to hotels instead of vacation rentals. I stayed in vacation rentals for 17 nights in 2018 and 20 nights in 2019. I only stayed in one vacation rental each in 2020 (for three nights), 2021 (for two nights) and 2022 (for two nights). And so far, I’ve only stayed in one vacation rental (for seven nights) in 2023.
On average, I paid $53 per night for vacation rentals across my six years as a digital nomad. My least expensive vacation rental was $17 per night for a private studio apartment in Da Nang, Vietnam, that I booked through Airbnb. And my most expensive vacation rental was $129 per night for a waterfront apartment in Auckland, New Zealand, through Hotels.com.
I’ll still stay in vacation rentals when they’re my best option. But I generally prefer to stay at hotels for consistency and to earn and use my elite status perks.
Related: When a vacation rental makes more sense than a hotel
259 cities in 52 countries and territories
Finally, let’s talk about destinations. Over the last six years, I’ve visited 259 cities in 52 countries and territories. Here’s a look at the number of nights I stayed in each:
1,253 nights: United States of America (including 318 nights in hotels or vacation rentals)
88 nights: Germany
69 nights: Japan
56 nights: Australia
54 nights: South Africa (including 32 nights in or near South African national parks)
36 nights: Dominican Republic
27 nights: Maldives, Thailand
24 nights: Spain
22 nights: Hong Kong, Malaysia
21 nights: New Zealand, Serbia, Vietnam
20 nights: Canada, Colombia, Italy
19 nights: India
18 nights: Netherlands, United Arab Emirates
16 nights: Singapore
14 nights: Bahamas, French Polynesia, Indonesia
13 nights: Fiji, South Korea
11 nights: Brazil, Mongolia
10 nights: China
Nine nights: Bulgaria, England, France, Pakistan
Eight nights: Bosnia and Herzegovina, Latvia, Liberia, Mexico, Sri Lanka
Seven nights: Greece, Guam
Six nights: Turkey
Five nights: Belgium, Marshall Islands
Four nights: Sweden
Three nights: Argentina, Chile
Two nights: Panama
One night: Ethiopia, Finland, Ireland, Northern Mariana Islands, Taiwan
As you can see, I would have spent the most time in the U.S. even if the coronavirus pandemic hadn’t kept me in the country for much of 2020 and 2021. And interestingly, even my most visited country outside the U.S. (Germany) accounted for just 88 nights across the last six years.
I also visited 14 other countries and territories before becoming a digital nomad. So, although I’m not striving to visit every country in the world, I’ve visited 66 different countries and territories so far. My husband and I are trying to visit a few new-to-us countries each year while also returning to some of our favorite destinations like Germany, Japan, South Africa, Australia and Hong Kong.
Related: The 18 best places to travel in 2023
Bottom line
I feel incredibly thankful for the last six years I’ve spent as a digital nomad. I’ve grown significantly as a person and content creator while traveling full-time.
And I’ve had some amazing experiences, including swimming with manta rays in French Polynesia and the Maldives, watching a sea turtle dig a nest and lay her eggs on a Florida beach, staying at some awesome resorts (Six Senses Laamu, Six Senses Yao Noi and Alila Fort Bishangarh immediately come to mind), and overnighting in second-class hard bunks on a Trans-Mongolian train.
But it’s not these epic experiences that keep me on the road. After all, I could enjoy many of these experiences on vacation. Instead, the daily things like being surrounded by languages I don’t know, enjoying delicious local foods and exploring new cities and neighborhoods on foot keep me attached to the digital nomad lifestyle.
As you’ve probably noticed, many people are traveling this summer. If that includes you, there are ways to save a bunch of money (and maybe a little sanity) while traveling this summer.
How can you navigate this high-demand travel environment while controlling costs and minimizing headaches?
Here are our top tips for travel this summer and how to overcome problems you might run into along the way.
Fly without breaking the bank
You’re not wrong if you think flights are more expensive.
Fares for summer travel have risen, sometimes dramatically, compared to both 2022 and 2019, according to data provided by the Airlines Reporting Corporation, a travel intelligence firm and ticket processor. The company says average fares were 9%-37% higher for the top 10 summer destinations, which include Yellowstone National Park and Hawaii. Flights are exorbitant to Europe this summer, too.
Fortunately, there are several strategies to reduce the cost of your flights.
Let the prices and availability decide your destination
If you want deals, this summer may be the one to let special offers inspire your next trip. Keep an eye on our flight deals, and book something that sounds interesting — either because of a good price or solid points and miles availability. The flexibility to go wherever the price is reasonable can lead to big savings.
Consider alternative airports
With prices on the rise, now is the time to be flexible and check all nearby airports.
For example, Houston and Chicago have two airports. The New York City area has three. It may even make sense to get to one city by flying to another before taking a short train ride for the rest of the journey, like flying into Philadelphia and catching a train up to New York. Strategies like this can help you get to your destination on a flight with better pricing or award availability.
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Expand your search for awards when your first attempt strikes out if you want to avoid the highest prices this summer.
Use positioning flights
Positioning flights are not realistic for every situation or trip, but they can often offer better award availability or pricing than those from your home airport.
Can you get to your destination for a lot less by starting in Seattle or Chicago, for example? Would adding another flight to a different airport ultimately save you money or miles?
Just make sure you leave enough time between flights to avoid any unnecessary travel headaches.
Book a backup plan
If you can’t get the flight you really want, book an alternative trip with that same airline. Then, get on the standby list for the flight you really want.
Plan your itinerary so you’re at the airport in time to get on that other flight. You can also monitor other flights and take advantage of same-day change policies.
Use up your points and miles
Summertime is a great time to use up points and miles you were hoarding. One of our big pieces of advice at TPG is to earn and burn those airline and credit card points and miles. You’ll maximize the redemption value if you can use them when cash prices are high, especially if you can find a mileage deal.
Fly on a holiday
Have you noticed that flights the day before Thanksgiving are extremely expensive, but flights on Thanksgiving morning are often cheaper? That’s because everyone wants to get to their final destination before the holiday.
This phenomenon plays out during some summer holidays, too, so look to fly the morning of the holiday to see if that lowers the price. Flying on July 4 is cheaper, generally, than flying on July 3 or July 6.
Get a hotel at the right price — and place
The good thing about hotels is that there are usually a lot of options. The bad thing about hotels is that there are usually a lot of options.
Having multiple properties to choose from can sometimes make the process of picking one feel overwhelming. However, if you have a stash of points, you can use those to narrow the field.
Here are our tips for locking in the right hotel for your trip.
Instead of burning cash, consider using your points
Just like with flights, points redemptions can make a lot of sense when hotel rates are high. Do you have Chase or American Express points you can transfer to a hotel program? Or are you sitting on a bunch of Marriott Bonvoy points? Several of us at TPG like to transfer our bank points, like Chase Ultimate Rewards points, to World of Hyatt for otherwise-expensive hotels (like the Park Hyatt Paris Vendome).
Book early and use a flexible cancellation policy
Booking a refundable hotel that seems right while you finalize everything else may be the way to go, even if you’re not 100% certain you’ll stay at that hotel. Avoid “pay now” rates in favor of a room that you can change or cancel without fees. Many award bookings allow you to cancel up to a couple of days before check-in, but always double-check the terms.
Use your elite status
Some hotel programs set aside rooms for elite members or will bump non-elite guests in favor of those with status if all the rooms are booked. Taking this a step further, travelers with top-tier Globalist status in the World of Hyatt program have a concierge who can help reserve properties. Take advantage of these perks if space is limited.
Additionally, your elite status may be the key to money-saving perks such as waived resort or parking fees, free breakfast and complimentary lounge access.
Discover similar locations
If you don’t need to be in a specific location, this may be the time to change things up a bit.
For example, if you’re seeking time on the beach, consider the panhandle of Florida or even the coast of Alabama instead of Miami and other popular parts of South Florida. Think of places that seem similar but may have better pricing if you’re running into sky-high rates.
Book directly
Instead of booking a room through a portal or online travel agency, reserve one directly with the hotel. By booking directly, you’ll likely have access to more flexible terms, as hotel cancellation policies are typically more forgiving. Additionally, if something goes wrong, you’ll have an easier time changing your itinerary since you’ll be dealing with the hotel directly instead of a third party.
Consider alternative accommodations
If you can’t find hotels that work for you, consider vacation rental platforms like Vrbo and Airbnb, as well as hotel-branded vacation rentals like Homes & Villas by Marriott Bonvoy, Mandarin Oriental Exclusive Homes and Accor-affiliated Onefinestay.
You can also go camping, glamping, stay in a “tiny home,” or rent a recreational vehicle for a few nights. There are even ways to use points to book vacation home rentals.
Score an affordable rental car
While not quite the same level of “car rental apocalypse” we saw in 2021, there are still some shortages of rental cars. There are already summertime sellouts happening in select leisure destinations. Hertz, as an example, is limiting one-way car rentals in Europe this summer due to supply constraints.
Even when vehicles are not sold out, demand (and prices) are still quite high, in part because car rental companies haven’t been able to completely replenish their fleets.
Planning ahead and leveraging your elite status can be the difference between getting a rental car and not getting one at all, according to Jonathan Weinberg, founder of AutoSlash.
Book first, plan later
Prices rise, and availability shrinks as you get closer to your travel dates. Take advantage of flexible car rental rules that usually provide a “pay later” option and book now, even if your plans aren’t finalized. Since car rental prices are up compared to pre-pandemic numbers, according to Weinberg, car rental prices may make or break some summer travel plans.
Use coupons or discount codes to save
If you’re a member of AAA or AARP, have a Costco membership, are a veteran or work for a large company with a car rental discount code, pull all of these levers. You might be eligible for discount codes you didn’t even know about.
Don’t despair if none of those reduced rates applies to you. AutoSlash can track prices and look for eligible coupon codes, too.
Leverage elite status
Having elite status with a car rental company can be the difference between getting a car and not — even if you have a reservation. That’s because cars are sometimes set aside exclusively for elite members.
Additionally, car rental program members can often skip the line at the counter and go straight to the lot, which can be what it takes to get one of the last vehicles. Luckily, you may already have a credit card that offers car rental elite status, which you could use to status match with other car rental loyalty programs.
Look beyond traditional companies and locations
Most people search for rentals at the airport with the standard companies. If you’re not finding good results, consider off-airport locations or try alternatives like Kyte, Turo and Silvercar.
Consider a longer rental
If you have trouble finding an available or affordable rental car, try adjusting the rental period. Here’s an example of how adding one day to trigger a monthlong rental cut the price by about $3,000:
Just know you should plan to keep the car for the full rental period, as returning the car early has an inherent risk of the car rental company charging a fee or adjusting pricing back to the daily rate. However, this avenue can unveil better prices and expanded inventory.
Visit national parks for less and without the crowds
The busiest national park in 2021 (Great Smoky Mountains National Park) saw 14.1 million visitors, according to statistics from the National Park Service. At the opposite end of the spectrum, Aniakchak National Monument and Preserve in Alaska saw just 145 visitors in 2021.
While the major parks are undoubtedly busy, there are still parklands that are less frequented than others, though you’ll still want to plan ahead.
Here’s everything to keep in mind for a national park adventure this summer.
Book in advance
Many parks require advance reservations for campsites and lodging inside the park’s boundaries.
How far in advance you can book varies, but these limited reservations fill up quickly at the more popular parks. Find out when reservations open for the date you want, and plan to book as soon as possible.
Stay outside the park
You might be dreaming of a night in a rustic cabin inside a national park, but getting that reservation could be challenging or costly, especially if you’re unable to pay for it with points.
However, just beyond the park, there’s probably a hotel where you can pay with points. For example, the SpringHill Suites just outside of Zion National Park is a great property if you have Marriott points to spend.
Make reservations
Some parks limit how many people can visit on any given day. Others place limits on how many people can go on a particular hiking trail. Some locations even require you to enter a lottery to get a chance to visit.
Apply for these permits and lotteries as early as possible for a better chance of securing access.
Avoid ‘free days’
It may sound counterintuitive, but “free days” at national parks may not be the best time to visit, as they tend to be particularly busy.
Instead of visiting on a weekend, holiday or day with free admission, aim for an early morning in the middle of the week for more elbow room on hiking trails and at can’t-miss natural wonders.
Visit alternative parks
Given the sheer number of national parks, national monuments, state parks and protected areas in the U.S., there’s likely a parkland near you that isn’t regularly packed with people. In fact, there may even be a park that offers similar geography to the one you’re considering but with a slightly more remote location and, consequently, thinner crowds.
For example, the second-largest canyon in the U.S., Palo Duro Canyon in the Texas Panhandle, sees 4 million fewer visitors per year than the Grand Canyon.
Plan for maximum enjoyment with minimum stress
You may have all types of activities in mind for this summer: theme parks, a road trip to visit grandparents or even an isolated beach getaway.
To cut down on travel headaches and bank account woes for the many trips you hope to take, consider these helpful tips.
Visit amusement parks on weekdays
While summer is a peak travel season since kids are out of school, many parents are still working Monday through Friday, meaning weekdays are generally less crowded. As a result, visiting a theme park in the middle of the week and arriving early in the morning typically leads to shorter lines for rides and shorter waits at in-park dining venues. It may even help you score cheaper tickets and lodging.
Ditch major theme parks
Growing up in Ohio, I had easy access to Kings Island and Cedar Point — two great theme parks that didn’t require flying to Florida or California.
Do as my parents did when I was a kid and look for regional parks that provide a lot of fun without the hefty price tag. Getting tickets will probably be easier, plus you may not need to add flights or hotels to the list of expenses.
Book Disney reservations early
You still need actual reservations (not just tickets) for Disneyland and Disney World.
To avoid any unexpected surprises, lock in your reservation as soon as possible to guarantee access to your preferred park, as they can sell out.
Reserve airport parking in advance
If flights and airports are packed, you can expect full parking lots, too.
Reserving airport parking ahead of time can be the difference between having a spot and not — or paying extra for the premium or far-away lot. If you aren’t having any luck finding a space at the airport, try snagging one at an off-airport parking location that offers shuttle service to the terminals.
Take a road trip
When you fly, you may have to buy four tickets for your family. When you drive, you don’t have to put gas in four cars.
The price of gas has come down lately, and a road trip may be calling your name this summer. An added bonus: Driving your own car means you won’t need a rental car at your final destination.
Look for coupons and codes
You don’t usually see Marriott or Delta Air Lines on Groupon, but activities are definitely more prolific.
Watch for coupons, group deals or sales for activities you’re planning to do during your trip. From roller coasters to roller derbies, the internet offers all kinds of deals, midweek sales and discount codes for activities that can lead to big savings. AAA, AARP and other advocacy memberships can help here, too.
Buy gift cards on sale
This tip can apply to many areas of life, but it’s especially true for theme parks and other activities.
Your local supermarket, big-box store or office supply store may sell gift cards at a discount. E-commerce sites also sell discounted gift cards.
When buying gift cards, use shopping portals whenever possible and pay with a card that will earn maximum points. Once you have your gift cards in hand (or your email inbox), use them to purchase Disney tickets, a hot air balloon ride or whatever activity you’re hoping to enjoy while on vacation.
Consider a cruise
While we’ve written about sold-out theme parks and hard-to-come-by flight deals, you should know that cruises are not quite as expensive as many other types of summer vacation. You’ll often save money when you account for the costs of flights and hotel rooms for multiple nights. With a cruise, you could simultaneously unlock serious savings and avoid crowds.
Hunt for deals
Cruise deals are not as plentiful as they were at the peak of the coronavirus pandemic. However, you can still find amazing deals on cruises. If you are flexible, sometimes cruise companies offer substantial deals on last-minute cruises if they have excess inventory (unsold cabins).
It’s not uncommon to see deals on cruises pop up, like this one back in March, but you need to act fast when you see them. Virgin Voyages has been offering some incredible deals this year, including a cruise for just 40,000 Virgin Atlantic points.
Look for bundles and packages
You may find that you can also save by bundling items. Search for deals on drink packages or onboard spending credits, or consider “kids sail free” options — even if the first number you see (the price for an adult) doesn’t look like a bargain right away.
Bottom line
Summer is here, and just like last year, prices and demand are through the roof.
It is possible, however, to avoid hordes of tourists if you’re looking for some peace and quiet. You may even be able to visit a popular destination without spending a fortune, having a 16-hour layover or coughing up all of your airline miles to get there.
Regardless of where you plan to go, flexibility is the best thing you can bring to your travel plans. You should book now (if you haven’t already) so you can make the most of your summer without breaking the bank.
Hedging, Loan Production, Auditing, QC, Broker Marketing Products; Primer on the Cost to Hedge
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Hedging, Loan Production, Auditing, QC, Broker Marketing Products; Primer on the Cost to Hedge
By: Rob Chrisman
8 Hours, 39 Min ago
A “crisis” is a time of intense difficulty, trouble, or danger. Think calamity, catastrophe, or disaster. The word makes for attention-grabbing headlines, and a scan through the news shows a mental health crisis, child care crisis, migrant crisis, China property crisis, a climate change crisis, an opioid crisis, a housing crisis… Eventually people become immune to seeing the word, and it loses its effectiveness, especially when nothing pans out from the “crisis.” I mention this because, despite a lot of predictions to the contrary, the banking “crisis” from March seems to have been contained to a few well-known banks. (Let’s hope so.) The Federal Reserve Board, released its results of annual bank stress test, which demonstrates that “large banks are well positioned to weather a severe recession and continue to lend to households and businesses even during a severe recession.” Of course, not every bank is large, and Ken Sonner telexed over the “The 100 Largest U.S. Banks by Consolidated Assets” which is of interest to anyone who has money in a bank or has a bank for a client. Yes, Chase now equals Wells Fargo plus Citi. (Today’s podcast can be found here and is sponsored by Visio Lending. Visio is the nation’s premier lender for buy and hold investors with over 2.5 billion closed loans for single-family rental properties, including vacation rentals. Through its top-rated Broker Program, Visio brokers can earn up to 5 percent. Hear an interview with Optimal Blue’s Erin Wester on both Product and Pricing Engines (PPE) and how pricing in the secondary market flows into the primary market.)
Lender and Broker Services, Products, and Software
In 2021, Procter & Gamble won the title of largest advertiser in the world, spending a jaw-dropping $8.1 billion on ads. While the company’s monumental ad budget is impressive, enterprising individuals who find creative ways to succeed with limited resources are doubly inspiring. Mortgage brokers are a perfect example of these types, as the majority of these lone wolves have to juggle customer service, relationship management, marketing, processing, compliance and more. To help brokers run their one-person show more effectively, Surefire by Black Knight has compiled an eBook detailing the marketing strategies and tools needed to succeed in a high-cost market. Download A Mortgage Broker’s Comprehensive Guide to Mortgage Marketing now for free.
“Learn About Current QC Trends and Industry Insights in Our Latest Webinar! With upcoming QC requirements on the horizon, now is the time to familiarize yourself with how they will impact your business. In our highly anticipated webinar, you will hear from ACES Quality Management’s President, Phillip McCall and EVP, Nick Volpe on an analysis of recent Mortgage QC Industry Trends Report, a deep dive into mortgage quality control trend reporting and how it aligns with the current state of the industry, and industry insights and how to best navigate through the volatile financial landscape. Walk away with a better understanding of what’s to come and how you can best prepare for the future. Watch Now.
“Experience unrivaled mortgage lending expertise for your next audit. At Richey May, we don’t just hire from the mortgage industry, we have the top experts who build it. We have defined what it means to be a mortgage expert for almost 40 years and are proud of our team members like Jennifer Hannah, CPA, AMP, who leads our Mortgage Banking Audit practice. As leaders in the mortgage lending industry, we provide extensive education for our clients while forging genuine relationships, communicating effectively, and resolving issues before they become problems. Our team’s extensive knowledge in mortgage technical accounting and audit acumen ensures top-quality service delivery. Guided by strong values, we strive to significantly impact our clients’ success. Reach out or visit our website to learn more about how we can help your audit drive growth, not just check a box.”
Products and Tools for Loan Production
Interest rates may tick up again next month, with experts predicting that mortgage rates will remain around mid-6 percent in the near term, but buyers are still out there. The loan officers with the right tools in place will be the ones to secure their business. With Percy’s homeownership engagement solutions, you can maintain connection with customers even after they’ve closed on a home. Percy’s captivating Equity Insights offer details on a home’s value and show how this value can be leveraged to fund home improvement projects or finance the next move. Need to work more with agents? Percy has 250,000 agents waiting to work with you. With Percy in place, our clients are reaping an average 400 percent ROI… and you can too. Learn more here about how you can use Percy to gain a competitive edge.
“In California, Golden State Finance Authority (GSFA) celebrates 30 years paving a path to homeownership for low-and-moderate income California households, having helped over 85,000 individuals and families to purchase a home and provided more than $660 million in down payment and closing cost assistance. Join us this June and July as we showcase our beginning, our mission, and the many achievements of the past three decades. ‘Golden State Finance Authority, Where Affordability Meets Flexibility®.’ Join our lending team! Start helping more homebuyers in California to Achieve the Dream. Visit www.gsfahome.org and follow us on Facebook, LinkedIn or our YouTube channel.”
“Did you know that OptifiNow provides wholesale Account Executives with an amazing tool that can double their funding volume? OptifiNow TPO is a CRM that expertly manages your wholesale lending sales team, but our Loan Scenario Ticketing Module is an absolute game changer. This module integrates with many popular Product and Pricing Engines (PPE) to enable your AEs to provide instant quotes to broker loan scenarios. OptifiNow automatically emails loan scenario quotes to brokers and follows up with them using a sequence of emails or SMS messages designed to ensure consistent engagement. Every Loan Scenario Ticket is tracked, so you know how frequently brokers are engaging with your AE, the types of products they are interested in and the pricing that was available at that time. AEs using OptifiNow’s Loan Scenario Ticketing module have been shown to double their monthly fundings. Interested? Contact OptifiNow for more information.”
The Fabled “Cost of Hedge”
Home lending is one of the few industries where the customer can lock in a future rate & price. Put another way, if you went to the local gas station, or grocery store, and told them you wanted to pay now for a gallon of petroleum or milk two months from now, you’d be stared at in disbelief. But the futures market is alive and well with companies and individuals locking in prices now for things like bacon, orange juice, wheat, gold, and corn in the future, hedging any impact of prices on their profits. There is a cost, usually the bid/ask price spread, the drop in price from one month to the next, and commissions paid in actually trading the contracts.
I periodically receive questions about the “cost to hedge” for mortgage bankers with locked pipelines. It is not an easy question to answer, like the cost of unleaded gas down at the corner. Hedging is a loan level activity where each loan’s program, interest rate, lock period, etc., is analyzed. It is tricky because company policies like extensions and renegotiations enter into it. Specifically, extensions and renegotiations increase it, and while the production team is helped, the capital markets department usually incurs the expense. And the price drop in the securities market often changes during the lock period. And then there’s always the “what is the cost of a loan that falls out?”
Capital markets vet James Hedvall recently weighed in. “Manufacturing loans faster, and bringing loans to market quicker, reduces a lender’s interest rate exposure to some degree. Thus, the reason bond loans can be an issue for some lenders. Unfortunately, I think many hedge vendors look at the problem 2-demonsionally, when it’s a 3-D issue. The problem isn’t necessarily all “speed-to-originate,” but rather “hedge model efficiency.” What assumptions are being made about the duration/beta of the hedge instrument, and pull through, broken down by product groups and cross referencing at what stage in the loan life cycle loans have fallen out in the past. Volatility in the To Be Announced (TBA) markets will kill a lender’s gain on sale. Lenders can be profitable in a rising rate environment, and profitable in a falling rate environment, but sudden swings in the bond market, and therefore interest rates, will kill you every time and all models break down.
“The cost to hedge is constantly changing. Viewed in a vacuum, I can say right now our hedge cost is around $X per loan, while the market is behaving rationally and my pull through acts as it has historically. This is also assuming I’m sending loans to market at the right time, I’m using broker/dealers that aren’t trying to pick off an additional +, and all the while having a stable ‘best efforts to mandatory’ spread. Ask me in six months how much my hedge is running and I’ll no doubt have a different answer. I believe that the real value of originating the loan quicker is a reduction in your finance fees from your warehouse bank, and not necessarily on your hedge side.” Thank you, James.
Capital Markets
Are long onboarding processes stopping you from making a switch? In a recent case study, NBH Bank describes their process getting started with MCT and how they were able to get mortgage pipeline hedging and best execution loan sales up and running in just ten days. “MCT exceeded our expectations for this onboarding process,” said Ajay Timothy, Vice President and Director of Secondary and Capital Markets at NBH Bank. “We were in a compromised position with our previous hedge provider and needed to get this done quickly…we got this done in about 10 days.” NBH Bank relied on MCT to come together with multiple teams to support them in a safe, effective way outside of normal processing times to ensure there were no gaps in their hedge coverage. Download the case study to learn how MCT is innovating the onboarding experience for clients.
Rate-wise, the main economic headline yesterday was Fed Chairman Powell’s remarks at an ECB event in Portugal, where he said that core U.S. inflation won’t hit 2 percent until 2025. He also said that there is significant disinflation in the pipeline, but that the dot plot is projecting another couple rate hikes. On a separate note, as noted in the opening paragraph, the Federal Reserve released the results of its annual stress test of banks and Wall Street’s biggest banks passed, clearing a key hurdle for returning billions of dollars to investors. The 23 largest U.S. lenders showed they can withstand a severe global recession and turmoil in real estate markets.
Fed Chair Powell once again spoke in Europe before the open to kick off today’s economic calendar. Besides Chair Powell, Atlanta’s Bostic is scheduled to speak and Sweden’s Riksbank will also be out with its latest monetary policy decision where a 25-basis points hike is expected. We’ve also received the final look at Q1 GDP (+4.1 percent) and weekly jobless claims (down to 239k, down 26k, very strong; continuing claims 1.742 million). The core PCE (personal consumption) deflator came in at +4.2. Later this morning brings the Pending Home Sales Index for May, Freddie Mac’s Primary Mortgage Markets Survey. We begin the day with Agency MBS prices worse .250-.375 and the 10-year yielding 3.79 after closing yesterday at 3.71 percent; the 2-year is up to 4.84, up .13 on the news.
Jobs
“PrimeLending LOs “tell all” at our first ever Loan Officer Roundtable! Join us for a live webinar on July 11th at 1:00 PM Eastern, where you’ll gain invaluable insights from our top mortgage loan originators. You can learn firsthand why PrimeLending could be your next best professional move. Hear personal stories, explore our work culture, and get answers to your burning questions about a career at PrimeLending. This exclusive (and anonymous) event is designed for loan officers like you, seeking a career boost. Contact Nic Hartke today to secure your spot at this one-of-a-kind opportunity to get the inside scoop from your peers. What are you waiting for?”
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