February 8, 2023
A Family Vacation Platform: Nick, Dan and Matt Falcone

Photo: Norma Lopez Molina

In 2011, the Falcone brothers (from left, Nick, Dan and Matt) became franchisees for BurgerFi. They have since started Rentyl.

Rising Executives

A Family Vacation Platform: Nick, Dan and Matt Falcone

The Falcone brothers' rental booking site boasts advantages for resort owners and vacationers.

Mike Vogel | 12/31/2022

Rentyl, Kissimmee

The “aha” moment for the three Falcone brothers came when sales opened for a vacation real estate project in Orlando developed by their father, the legendary Art Falcone. The first 100 or so buyers didn’t want the houses for vacations. The buyers wanted them as investment properties to rent out to vacationers.

Nick Falcone, the eldest of the three, says he and brothers Dan and Matt realized over dinner that night that they could form a company that would play to resort developers, the investors buying the product and consumers wanting a place to stay.

Rentyl — pronounced like “rental” — was born. The Kissimmee-based company is a platform through which people book a house or condo at a resort. Rentyl has grown to represent 11,000 units in 75 resorts in 25 markets. Nick Falcone says the company aims to have 500 resorts in five years.

Rentyl is the newest unit of the brothers’ umbrella company, NDM Hospitality — a name taken from the first initials for Nick, 35, Dan, 33, and Matt, 31.

In 2011, in their early 20s, the brothers followed their father’s quick-service restaurant path by becoming franchisees for BurgerFi, at the time a one-store company. Their NDM — their father isn’t an investor — now owns 10 BurgerFi and other restaurants. NDM’s other subsidiaries do property management for resorts and clubs. NDM numbers 700 employees.

The case for Rentyl is that it offers developers the flexibility to continue to own units and derive booking revenue from them rather than selling. Nick Falcone says allying with Rentyl also stimulates buying from investors, leading to higher prices per square foot for the developer and a 200% to 400% increase in sales velocity. That in turn helps developers in obtaining project financing. For owners, whether a developer, individual investor or an existing resort, it’s another way to manage and market the property.

For vacationing families, the draw is getting the value of a house or condo rental, avoiding having to book a bunch of hotel rooms, but still receiving the consistency of a hotel brand with hotel service and resort amenities like a pool and golf course.

Rentyl faces plenty of competition from other online platforms, from resort and hotel chains’ own booking services and from vacation rental companies such as Vrbo and Airbnb. One advantage Rentyl properties offer is no Airbnb-like list of chores for visitors to complete upon checking out, Nick Falcone says.

Rentyl in 2019 posted $25 million in booking revenue and hit $150 million in 2021. Nick Falcone projects $1 billion in 2023. Rentyl retains an undisclosed portion. The lion’s share goes to the property owner. Florida resorts working with Rentyl include Jack Nicklaus’ Bear’s Den Resort Orlando and resorts developed by the Falcones’ father — Eagle Trace Resort Orlando, Encore Resort at Reunion, Margaritaville Orlando and Spectrum Resort Orlando. Beyond Florida, resorts accessible through Rentyl are across the country, the Caribbean and other locales. Says Nick Falcone, “We’re looking to replicate that experience all over the world.” 

Tags: Feature, Rising Executives

Florida Business News

Florida News Releases

Florida Trend Video Pick

Big John, world’s largest triceratops, finds home at Glazer Children’s Museum
Big John, world’s largest triceratops, finds home at Glazer Children’s Museum

The 26-foot-long dinosaur made history when it was first discovered in South Dakota in 2014. And it made history again in 2021 when it fetched a record $7.7 million at an auction in Paris, the most ever paid for ancient bones that weren’t a T. rex. The winning bid came from Tampa entrepreneur Sidd Pagidipati, chairperson of Ayon Capitol and Better Health Group. He is lending Big John to the museum for the next three years.

Video Picks | Viewpoints@FloridaTrend

Ballot Box

Should Floridians selling real estate tell buyers if the property has been damaged from flooding?

  • Yes
  • No
  • Other (Please share your comments in the comment section below)

See Results

Florida Trend Media Company
490 1st Ave S
St Petersburg, FL 33701

© Copyright 2023 Trend Magazines Inc. All rights reserved.