When it comes to vacation rentals, bigger isn’t necessarily better, according to the current HomeAway Trend Report. According to their research, demand for unusual accommodations such as castles and estates increased by 55 and 25 percent, respectively, in the previous year.
But, what is the cause of this rise?
Vacation rentals, on average, provide much more room at a cheaper cost per person than standard hotel-style choices. Unlike hotel guests who just utilize the room to sleep and wash, vacationers living in rental houses make considerably greater use of the property as a whole. Indeed, many holidays focus around the property itself; frequent activities include spending time with family by the pool, creating group meals in the fully equipped kitchen, or relaxing on the couch with a nice book or movie.
According to HomeAway’s research on the demographics of tourists who book bigger units, millennials are pushing this trend ahead. Those in their 20s and 40s who are growing, establishing kids, and like to travel with their parents (children’s grandparents). The number of families traveling with children has increased by 325 percent in the past year, according to the research.
Knowing how to advertise your large vacation rental may significantly increase bookings and bring more visitors to your house. Take our advice and boost bookings for your large property!
Choose the correct categories of visitors.
Identifying your target market in terms of visitor kinds should be done early on in the process of creating your vacation rental company. There is a wide spectrum of individuals you might seek to attract if you have huge and interesting properties.
Vacation rentals provide a level of convenience for vacationing families that few other lodgings can match. Space, entertainment choices, kitchen/dining spaces, and washing and dryer are all compelling reasons to choose Airbnb. Offering family-friendly facilities to your visitors, such as cribs, highchairs, and a range of toys or games, may offer your hotel a competitive advantage and encourage families to book.
As a consequence of the more “bang for your buck,” a growing number of non-family groups are renting bigger vacation properties. When expenses are split among many friends or members of a group, the nightly fee drops while the quality and facilities frequently outperform any rival lodging option. So, make it clear on your website that your property is appropriate for these visitors by displaying images of former groups enjoying your place, and be sure to get evaluations from previous groups and display them on your site as well.
PRO TIP: Learn how to make money through Airbnb Rental Arbitrage without having to invest!
Many businesses arrange yearly off-site events for each team or even the whole company. You may collaborate with local firms to provide meals, activities, and concierge service in addition to offering a nice place to sleep for a corporate weekend trip. Savvy business owners will welcome the ability to save money on lodging since it allows them to spend it elsewhere.
Establish your property as a place for gatherings.
If you have a unique home in a desirable location, there is another extremely successful way to fill your booking calendar: turn your vacation rental into a venue for special events.
Destination weddings now account for one-quarter of all weddings. Given that couples spend over $16 billion on weddings each year, it is a lucrative industry to enter. If you decide to utilize your home as a wedding venue, make sure you have the correct insurance in place, always request a damage deposit, and follow any local regulations and event planning limitations.
Aside from overnight stays, many businesses and startups hold teambuilding activities throughout the year. If you have a low season with fewer reservations, consider renting out your space daily to hold these sorts of events for local companies. This is particularly useful if your home is a one-of-a-kind lodging, such as a castle or farmhouse since it will make the invited visitors’ stay even more unforgettable!
Whatever the occasion – a 50th birthday, a silver wedding anniversary, or a newborn child’s naming ceremony – there is never a lack of reasons to throw a party! Vacation rentals with plenty of outside areas, in particular, may make the most of this economic potential for organizing summer parties. Pitching your house as a great party venue might attract event planners who want something a little more unique than a dull hotel conference room.
Spend a lot of money on facilities.
According to the HomeAway survey, the most sought holiday home amenity is a private swimming pool. While many large properties already have this feature, some owners may want to explore constructing a pool to attract more visitors and bookings. Although it is a significant initial expenditure, the benefit will be seen (and enjoyed) for many years to come.
Aside from a pool, make sure you invest in the facilities that every visitor expects. This may include anything from a welcome basket filled with regional delights and an abundance of nice-smelling toiletries to robes and slippers for each visitor and a stack of board games to keep them entertained in the evenings!
Larger vacation properties equal more value and a better experience for visitors.
For tourists, a large vacation rental may be much more than a home away from home. When you understand what your customers want, you can leverage this to generate more income by providing the finest facilities, the best value for money, and a better overall guest experience than any of your surrounding rivals.