You may already be aware of how to attract business travellers to your Airbnb for a short stay, but what about when it comes to the longer visits? Serviced apartments have long been an established solution for businesses and their traveling employees.
It offers many more advantages and comforts than the traditional hotel stay, and can often work out more economical for the company in question. With that being said, it’s not just business travellers and companies who benefit from these services. There are also a number of ways that vacation rental owners can reap the rewards when using their properties as Serviced Apartments solutions. Above all, offering your Airbnb property as a serviced Apartment can help double or even triple your rental profits.
What is serviced apartments?
Serviced apartments are a regularly used term in the travel industry that refers to the rental of fully furnished apartments and homes to businesses and other professionals. Serviced apartments may sometimes be referred to as corporate housing, and rates for serviced apartments usually includes all utilities such as water, electricity and gas. As with Airbnb rentals, this segment of the travel industry has also seen a massive growth in the last 20 years.
How can you market your Airbnb as a serviced apartment?
Many Airbnb hosts find it difficult to fully occupy their apartment during off-seasons. Conversely when pushing your place as a serviced apartment it can have the potential to fill this void during off-season.
To make money it is paramount to price your serviced apartment competitively. Begin by doing some research; what is the average cost of a hotel per a night stay in your neighbourhood? The figure you find will be your benchmark, however keep in mind that serviced apartments are on average 40% cheaper than a hotel stay. For example if a hotel is priced at £150 per night per a person, try setting your price at around £80-90. Especially 2 bedroom apartments will have a great potential for income; a good month can bring you around £3000-3500 depending on your location.
Offer top quality amenities
When you target your place to business travellers, shabby and worn out furniture or out-dated appliances will not cut it. Adding luxurious amenities to your property will make the listing more suitable for serviced apartment guests. The return on the investment of amenities will be worth it! Serviced apartment guests will look for high quality furniture, latest household and kitchen appliances, large TV’s with a cable package, quick Internet speed, modern kitchen space with a coffee machine and cleaning/maintenance team on hand to resolve any guest enquiries.
Provide additional services
To really make your property stand out to the corporate travel contingent, go one step further and offer additional services at rates that a hotel can’t compete with. Whether that’s a chauffeur service, daily cleaning and laundry or an in-house personal chef, vacation rental owners can use this as a further opportunity to boost their income. Furthermore, many vacation rental complexes or private properties will have their own facilities, such as on-site gyms, swimming pools or bicycle rental that you could also advertise as an added extra.
Thanks for reading the article! We hope you have greater understanding of the topic discussed above.
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