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The Inevitable, Growing Popularity of Vacation Rentals

The Inevitable, Growing Popularity of Vacation Rentals

Travel is the new necessity.

Millennials have redefined the rules and the entire hospitality industry is paying attention, and courting their business. Huffpost states “72 percent of this demographic are choosing to spend more money on experiences than material items”. There is a good chance they are not seeking ordinary experiences, nor ordinary accommodation.

Hotels and motels are limited urban or “well trodden” touristy destinations. They are serving up a functional bed or two, TV, one bathroom and a couple of bottles of water (free if you are lucky).

Vacation Rentals Offer a Unique Travel Experience

Unique accommodation is now considered part of the experience. In the Vacation Rental inventory, possibilities expand to the limits of the imagination. From a ten bedroom ski chalet to a moored sailboat, from a kicked-back beach cottage on Okanagan Lake to a suspended treehouse or igloo. If you can dream it, you can find it, even on the most remote island. These properties offer things like wine, chocolate and most importantly, a human connection. Welcoming hosts are usually excited about giving you all the insider tips to the local area.

Want Value? Stay at a Vacation Rental

Don’t forget cost savings. Vacation rentals are economical because owners do not have to compete with the large staff overheads in the hotel industry. Owners enjoy a much better return on their investment versus regular long-term rental income. The price is still considered a huge bargain from the eyes of the traveller. Having a kitchen (not just a microwave) is a non-negotiable criteria for the family traveling in 2017. Who wants to be cramped into one room and forced to eat out 3 times a day with 2 children in tow?

Unique, comfortable accommodations connecting with good communication and boasting great reviews are absolutely crushing it. Once visitors “catch on” to this option, they are hooked and it is hard to go back.

Your VR Must Deliver an Exceptional Guest Experience

Vacation Rentals have become attractive to both the owner and the guest, which has lead to an exponential growth of properties. Guests are learning how to laser focus in and find the highest quality rentals. Owners who want to stand out from the crowd will need to “dial up their game” to a professional operation level. Properties must deliver exceptional guest experiences — consistently. The impression you make on guests prior to booking, during the their stay, and once they’ve gone home (reviews!!!) will have a significant impact on the success of your Vacation Rental.

Get started with Vacation Rental Strategist to accelerate through the learning curve of owning a Vacation Rental. Call us at 1-800-717-1457 for more information.

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