In the latest episode of Alex & Annie: The Real Women of Vacation Rental, we had the pleasure of hosting Matt Renner, the co-founder and CEO of PassPass. With a rich history in the vacation rental industry and a passion for supporting small businesses, Matt’s insights are both inspiring and informative.
Introducing PassPass
PassPass is a direct-to-consumer, location-based app that allows businesses to offer discounts and deals to members who pay a $5 monthly subscription fee. As Matt explained, "You open up the app, it's kind of like Zillow or Uber, see all the businesses around you - every business that's in the app, it's free for the business."
The unique part is that PassPass shares 66% of that membership revenue directly with the businesses that refer customers to the app. "If they refer one of their customers to PassPass, and that customer signs up, we deposit a portion into their account. And then in perpetuity, we share the revenue back with the business," said Matt.
Keeping Small Businesses in Business
His mission is straightforward: "Keep every business in business." Matt believes small businesses are the lifeblood of the economy, employing over 60 million people in the U.S., but face tremendous challenges with high failure rates. PassPass aims to level the playing field by providing a new revenue stream while offering consumers valuable discounts.
Benefits for Vacation Rentals
For vacation rental companies, PassPass represents an opportunity to monetize guests even after their stay ends. By referring them to the app, properties can earn recurring revenue while delivering added value. As Matt stated, "Why not just give them a PassPass, and then when they maintain it for the next 10 years, you're making money off them and you've built a relationship."
Check It Out
While PassPass is set to launch broadly in July across key markets like Nashville, Atlanta, and San Diego, Matt invites anyone interested to visit PassPass.com to learn more about this innovative take on the discount marketing space.
Watch the full episode here:
