SUNNYVALE, Calif., - Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced that Vacasa, North America’s leading vacation rental management platform, which has entered into an agreement to become a publicly-traded company through a business combination with TPG Pace Solutions (NYSE: TPGS), has increased its booking conversion rate on Vacasa.com by nearly 12%* with Matterport’s immersive digital twins.
Nearly 90 percent of Vacasa’s more than 30,000 property listings today include Matterport’s dimensionally accurate, photorealistic digital twins. This enables guests to virtually walk a property with stunning realism as if they were actually there. According to Vacasa, guests searching online spend three times more time engaging with property listings that feature a Matterport digital twin.
“Since adding Matterport to our website, we've seen incredible returns,” says Caleb Donegan, Vice President of Digital at Vacasa. “Partnering with Matterport is a simple and cost-effective way to provide a better vacation rental experience for guests and more bookings for our homeowners.“
With Matterport, Vacasa has digitized over 64 million square feet since 2015, enabling guests to interact with multiple properties and virtually walk each of them from room to room. They can share Matterport spaces with friends and family and be confident they’re booking the right vacation home for their needs.
For less than the cost of a professional photo shoot, Matterport delivers a 3D digital twin, still photography, floor plans, and teaser videos to better merchandise rentals across social media and online channels.
“Matterport is incredibly easy to use, so we don’t need to send a professional photographer or camera crew to our vacation homes. Learning to use Matterport’s technology only takes a few minutes, and anyone can scan a home with a variety of cameras or smartphones,” said Donegan.
“Matterport is a proven growth driver for Vacasa. The data clearly shows that higher engagement levels lead to more bookings,” said Bill Linehan, who leads global strategy for Travel and Hospitality at Matterport. “There's no better way to provide a high definition, true 3D experience than with Matterport. Guests feel more assured with their choices by having more tailored online experiences, while homeowners see higher occupancies. Everybody wins.”
Adopting Matterport digital twins has also enabled Vacasa to equip its customer experience team with more information about each property and provide guests with better service. For example, customer experience agents can use highly detailed digital twins to help guests troubleshoot other issues over the phone because they are able to view the home’s layout online.
* Booking conversion data reflects the time period between September 2019 and September 2021.
Vacasa is the leading vacation rental management platform in North America, transforming the vacation rental experience by integrating purpose-built technology with expert local and national teams. Homeowners enjoy earning significant incremental income on one of their most valuable assets, delivered by the company’s unmatched technology that adjusts rates in real time to maximize revenue. Guests can relax comfortably in Vacasa’s 30,000+ homes across more than 400 destinations in North America, Belize and Costa Rica, knowing that 24/7 support is just a phone call away. In addition to enabling guests to search, discover and book its properties on Vacasa.com and the Vacasa Guest App, Vacasa provides valuable, professionally managed inventory to top channel partners, including Airbnb, Booking.com and Vrbo. In Summer 2021, Vacasa entered into an agreement to become a publicly traded company through a business combination with TPG Pace Solutions (NYSE: TPGS), a special purpose acquisition company (“SPAC”).
For more information, visit https://www.vacasa.com/press
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 150 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.
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Senior Director, Communications
Soohwan Kim, CFA
VP, Investor Relations
This document contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the benefits of the business combination, the services offered by Matterport, Inc. (“Matterport”) and the markets in which Matterport operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and Matterport’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including the expected benefits of Vacasa’s usage of Matterport’s digital twins, Matterport’s ability to implement business plans, forecasts, and other expectations in the industry in which Matterport competes, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Matterport from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Matterport assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Matterport does not give any assurance that it will achieve its expectations.