Alta Gama Rentals is an amazing business that offers luxury vacation rental properties for short-term stays. They have over 300 guest reviews and more than two thousand satisfied customers from many parts of the world such as the United States, Mexico, Canada, Middle East, Europe, among others. What’s more, they generate around 30 direct jobs and more than 70 indirect ones, which positively impacts the country’s economy and promotes tourism in all its facets.
The brain behind this successful business is Mateo Toro. It all started when he connected with people who also were in the rental market and were doing something similar to his business model. Mateo noticed that there were plenty of opportunities to take and many improvements to be made within the industry, so he decided to take the risk and create a successful business that would meet the growing needs of the market in Colombia.
“On one hand, tourism in our country has been increasing and foreign customers want to stay in luxurious and private places with exclusive services. On the other hand, in Colombia we have the problem of unoccupied properties with expensive rental prices, so that is where the strategy of rental arbitrage is a possibility”, Mateo explains.
Alta Gama Rentals was originally founded as a Student Rental Housing Company in 2016, but they shifted their portfolio to short term rentals after seeing the huge influx of domestic travelers at the start of COVID-19. They stand out from other similar businesses because they offer comfort, luxury, safety and trust. Also, they manage all of their rentals with love, attention and great customer service. Doing so helped them achieve SuperHost Status and receive 5-Star Reviews throughout their listings.
“I’m a lover of the luxury and comfort that an exclusive property offers, it is something that I have reflected in Alta Gama Properties and it is what my vision has built. What sets me apart is my creativity, my ability to transform spaces to meet the needs of foreign clients, and my mindset that allows me to bet on growth even with the uncertainty of the possibility of making a mistake”, Mateo says.
But not everything has been easy on his path. Quite the opposite. Mateo had faced some difficulties, including the ones that came with creating a business from scratch with limited resources during a financial crisis. As Mateo explains, in Colombia it is not easy at all to create a new business and there is very little support for emerging entrepreneurs. But he stayed consistent and disciplined and he never stopped believing in his dream and in the great potential of his company.
“This journey has been a rollercoaster of ups and downs, of wanting to give up many times, of losing friends and money. It has been full of uncertainty. However, I consider myself a consistent and visionary person who sees the opportunity in every failure and I believe that maintaining a strong-minded mentality has allowed me to build something different”, Mateo shares.
One of his dreams is having an academy where he can teach his students everything that he has learned about Airbnb combined with a training Center with many amenities that the students can enjoy such as gym, a restaurant and many others. He also wants to teach them some spiritual beliefs, which are the bases of life and all successful business.
“It’s more like a new way of teaching teenagers a different way of life. I think schools have to update themselves on traditional teaching”, he details.
“If you’re looking to start a new business, let me tell you that there are no shortcuts. Entrepreneurship is about consistency and valuing the processes. Patience is needed to see the desired results, doing things with love brings its reward in the end. I have learned to be grateful, humble, and enjoy every step I take”, Mateo adds.
Alta Gama Rentals currently has 20 Villas in Colombia and 5 properties in New Jersey. They are planning to increase the number of properties in the United States by developing their new expansion plan for 2023, which will allow them to reach 100 properties by building real estate projects and entering new international markets. This is going to be achieved by having the right team, automating and managing reservations technologically!
To find out more about Alta Gama Rentals, check out their website here.