Current & Future STR Management Practices in Greece
- Many STR businesses in Greece have only just begun using channel managers and advanced automation as of the date of this blog, and they still use spreadsheets as their primary storage for their knowledge base. Most automation, as a result, stems primarily from primary booking platforms (such as Airbnb).
- With the proper use of AI and message automation, it’s no longer necessary to rely on local call centers in Greece. STR companies may still operate this way for many reasons; however, the main reason is often ignorance of new systems. There are also negative forces that may be putting pressure on the STR industry, such as government regulation, which is shrinking the STR pool of available homes. As integrations become more commonplace within STR systems, traditional call center models will become less relevant.
- Channel managers (such as IGMS) now offer AI-generated messaging, but a real person is still required to execute the messages. Additionally, the AI-generated messages on booking platforms like Airbnb generally need editing each time. Although new systems now exist that can execute messages automatically using machine learning, providing accurate answers to guests and onsite support staff in every possible scenario can be done with continual improvement as machine learning adjusts to mistakes over time.
- However, machine learning does require some programming, which involves providing the necessary data for AI messaging to respond initially. To illustrate, this means providing rules to properly guide AI responses. Therefore, an experienced manager with system knowledge is still needed to manage the AI software. For example, if the electricity is turned off and the electrical panel needs to be accessed, the AI messaging can auto-generate instructions for a guest on what to do and how to access the electrical panel. These initial instructions would, of course, have been inputted by the manager in the AI software.
- Tweaks and updates to the data within the AI software will need to take place. However, this approach enables STR companies to reduce their staff significantly if they are willing to invest in some initial work to program AI software. Instead of having a room full of lower-level call center staff typing messages and answering phones, you would only need a fraction of that staff to handle the tasks that AI is currently incapable of executing. This would mainly involve telephone calls, managing the software, and executing platform functions that cannot be performed by AI.
- Approximately 70% to 80% of messaging can now be executed by AI and automation. This translates to hiring one manager and one or two highly skilled support staff, versus a team of about 10 people. As a result, STR companies that still operate with a call center-style business doing all messaging with real people and incorporating no AI or automation, are essentially throwing money away. This static cost is past to the consumer, Property Owner‘s seeking management services. STR companies in Greece, for example, have many reasons why they might not incorporate AI and automation within their business, but the underlying reason is often ignorance of the technology itself, sticking to what works, or a refusal to invest the initial effort required to set up AI software that integrates with existing channel management software.
- From my own personal experience, I have been using the same channel manager for almost a decade. However, with recent advances in AI technology and the desire to scale my business, I am compelled to explore and implement new software that uses advanced AI designed for the STR industry.
- More on my experience with implementation and live AI messaging to come!
