Florida-based NDM Hospitality, innovators of the family travel and dining industries are slated for significant growth this year, expanding beyond Florida nationally and internationally. Known for recognizing changing consumer needs and creating new vacation concepts, in addition to bringing a unique perspective to hospitality and F&B.
28 May 2021
Demand For Vacation Homes Soar As NDM Hospitality Shares Expansion Details
share this article
Florida-based NDM Hospitality, innovators of the family travel and dining industries are slated for significant growth this year, expanding beyond Florida nationally and internationally. Known for recognizing changing consumer needs and creating new vacation concepts, in addition to bringing a unique perspective to hospitality and F&B. The brand’s primary focus is on family ventures, strengthening and celebrating families is at the heart of the entire brand.
As demand rises for vacation home properties, Florida is seeing a higher demand than ever. Demand for vacation homes is rising at a record pace, despite the gradual reopening of offices across the country, according to
a new report
from real-estate brokerage Redfin. Rate locks have risen 178% for second homes over the past year as of April, according to an analysis by Redfin. That’s compared with just a 78% increase for primary homes. Residents and visitors are vaccinated, ready to visit the warm weather state after being cooped up at home for a year. The ability to work remotely has many home buyers toying with the idea of moving to vacation home markets, which are seeing increased interest as shifting priorities and preferences transform where and how people want to live. The NDM team was ahead of the curb as Florida’s housing market began to see less inventory for primary and vacation homes. Right now, homes sell in 30 days on average — almost twice as fast as in 2020. NDM saw this trend and began their mission to expand as their resorts offer the option to rent or to buy the homes on resort property. Residences can be used as an investment property, vacation home or permanent residence while still having access to the amenities available by vacationers.
As NDM continues to grow, they recently implemented a proprietary technology that powers Rentyl Resorts performance to another level. Most other companies in the home rental space spend significant dollars on assets and long-term fixed leases whereas Rentyl’s model is asset light, focusing on performance for its owned product and partners. Rentyl is the only company in the world to book both AOA (allocation on arrival) and by the door simultaneously, allowing significant flexibility to market all types of hospitality products and increasing its footprint.
In the last two years the company has grown significantly despite industry struggles including the results of the Covid-19 pandemic on the hospitality industry. While other companies were forced into furloughs and layoffs, NDM went from 400 team members to 650 during that time Revenue will increase from $25 million in 2019 to $150 this year and is slated to eclipse 1billion by 2023.
NDM is now looking to take their brand across the country and internationally. With ten resorts on its current roster, the brand hopes to have over sixty by the end of the year and 500 in the next five years. The next properties will be the first outside of Florida and are slated to open in Montana, Hawaii and Italy.
This is not just a story about a growing vacation rental home business, but the story of three brothers working together to bring a new model to resort residences across the travel industry.
The story of Nick, Dan and Matt Falcone did not start in travel, but in F&B. The brothers began their business ventures in 2011 as they embarked on franchising BurgerFi restaurants. Growing up watching their father who started his business empire in quick service dining, they were inspired to begin their careers there to learn as much as possible about the hospitality business. As they opened more locations, they refined operations procedures, creating the first marketing co-op and training module was put into place at the brother’s locations, which is now replicated across the brand. They now operate seven BurgerFi locations and have taken their hospitality experience to the travel industry.
As the brothers grew up in a close family and now have children of their own, taking vacations together as a group is a very special time that they cherish to this day. Each time they took a trip, the hassle of booking multiple hotel rooms was a constant issue. Their experiences had been subpar with vacation rentals as they longed for the amenities that come with staying at a hotel. They felt that something was missing from the industry, realizing they needed to take action to do something better. From there the concept of Branded Residential Resorts was born. Branded Residential Resorts combine the size, comfort and value of a vacation home with the services, amenities and consistency standards of a true hotel brand. From there, NDM opened their first Branded Residential Resort, Encore Resort at Reunion located in Orlando, minutes from Walt Disney World. Homes range from 4-3 bedrooms with various in-home amenities including private backyard, pool, home theater, chef’s kitchen, billiards, game rooms and bedrooms for children themed for an Orlando vacation including Star Wars, Harry Potter, Mickey Mouse and more . The resort was received very well by multi-generational families, groups, sports teams and corporate retreats.Following Encore’s success, NDM onboarded additional resorts into the portfolio and established Rentyl Resorts as its umbrella brand. The first of its kind, Rentyl Resorts acts as a true brand in the travel space and has both sub brands underneath the umbrella, in addition to Rentyl Collection’s individually curated resorts that meet master brand standards.
NDM also began its first partnership with an established brand, opening Margaritaville Resort Orlando in 2019. Inspired by Jimmy Buffett’s island lifestyle, the resort and cottages transport guests to the vacation state of mind from the moment they enter. Other partnerships include Bear’s Den Brand by Jack Nicklaus. The Bear’s Den Resort is NDM’s first venture into the luxury space with elegant new homes inside the golf community.
While the brand continues to grow, family is still the core of the brand. Three brothers who love traveling as a family and making memories that will last a lifetime. This ethos is reflected in what makes their resorts so successful, bringing family togetherness and experiences as the selling point.