Hello iTrip Franchisees,

As we enter the 2nd month of 2026, I want to thank each of you for the continued passion, dedication, and excellence you bring to the iTrip brand every day. Your commitment to serving rental guests, supporting property owners, and strengthening your local markets is truly what fuels our success.

We are beginning the year with a stable and encouraging industry outlook. Travelers remain active, booking patterns continue to evolve, and disciplined pricing strategies are helping protect revenue even in a cautious demand environment. And while additional snowfall would be welcomed for our Rocky Mountain ski destinations, there is positive momentum as we move further into Q1.

Below is a brief snapshot of the latest industry insights to help guide your operational and strategic planning.

• Demand is gradually improving following multi‑year softness.
• Late 2025 occupancy strengthened, though early 2026 pacing remains mixed.
• ADR growth remains the strongest performance lever.
• RevPAR closed 2025 with meaningful year‑over‑year gains.

• Travelers continue booking closer to arrival.
• Stay lengths are shortening slightly.
• Flexibility remains top‑of‑mind for guests.

iTrip occupancy is pacing down (1.4%) in January but up for February (2.2%) and March (1.3%).

2026 revenue is pacing 9% ahead compared to the same time in 2025 and 32% ahead of the same time in 2024.

Shout out to St. Petersburg, Oak Island and Alabama Beaches for the most growth year over year, as of last Friday.

We have a working session scheduled next week with the goal of finalizing franchise agreement updates. George, Sofia, Joe Turitz, our legal counsel, and I will be traveling to Charleston for these discussions.

Given our normal cadence of issuing the next franchise agreement in early April, and our proximity to that timeline, the revised agreement will be released at that time. Franchisees with renewals scheduled through April 28, 2026 have received renewal extensions through April 30, 2026.

Across the industry, we continue to see more deactivations. Largely driven by elevated real estate values. This trend reinforces both the need for and excitement around the upcoming release of the Rentalz Program.

I am pleased to share that one Franchisee already running a Rentalz campaign has closed 4 units! The Rentalz Agreement is on the 1-yard line and the itroductory webinar is in review.

We are also interviewing candidates for two new roles dedicated to unit acquisition and the integration of Rentalz across iTrip.

Work is being completed on an adjustment to the Home Guardian product that will change the coverage period to 90 days from the current 180 program. This shorter coverage period will reduce the cost of the coverage. More analysis is being done, but this option can be offered within 4-6 weeks if we move forward. No ETA to announce yet.

The Rental Guardian PayNow system has been improved to offer enhanced filtering options.

The HUB month-end results reconcile now with the Rental Guardian invoices once we changed the timing for payments for month-end work.

Our beta test group of 6 HUBs is working through their first month-end processing. They are providing a few edge cases to the Dev team, all of which are being addressed.

Our plan is to release Breezeway the week of Febuary 9. Kick-off calls with Breezeway will start immediately afterward.

RFPs were sent out and questions from the agencies are pouring in as work is done to submit the proposals.

The first of 3 new Marketing team members has been hired. A formal introduction will be made following her arrival. Interviews for the remaining two positions are underway.

With the changes to comp set information – not being broken down to reflect specific fees like cleaning – we are working on an SOP and training for how to apply the data in its new form for the creation of property proformas.

We are in talks with Xplorie to discussed optimization improvement opportunities. The goal is to enhance the differentiation provided by Xplorie to attract bookings.

Work is being done on the GoHighLevel CRM. This is the tool that Rentalz uses. All HUBs have been created as companies within the CRM. Phase I is to use the Rentalz version as we roll-out our Unit Acquisition campaigns. Phase II is to create a HUB version of Go High Level to be used beyond unit acquisition components. Phase II is scheduled to start H2 2026.

Software version 15.14 was released on January 20. You can find the notes here.

Release 15.15 is scheduled for release next week.

The Franchisee Advisory Council (FAC) and the Marketing Council have been meeting regularly since being refreshed. Indeed, the FAC met yesterday, and covered the details included in this newsletter. The next FAC meeting is scheduled for Tuesday, March 3. The next Marketing Council meeting is scheduled for February 12. The Technology Council will be re-established and start meeting in March.

Thank you again for your hard work, heart, and leadership across your markets. I’m excited for the opportunities this new year brings.

Monday, Punxsutawney Phil saw his shadow, foreboding 6 more weeks of winter. This could be great for our Rocky Mountain markets and call for layers of warmth for the sunshine markets.

Warm regards,

Vickie