After the pandemic, 2021 witnessed a rise in the travel and hospitality business. After a pressing time of COVID, the business of vacation rental has again gained traction but with an enhanced need for customization as people are now looking for places for workation.
In the present scenario, people are looking for various ways of cutting down on vacation costs by adopting minimalist and local ways. This has made the trend of vacation rental trends a huge hit among localities and property dealers. The trend gained momentum after the industry was hugely hit by the pandemic. As people are now again starting their travel expeditions, they are looking for affordable yet accommodating rental options. Here are a few trends that property managers should look out for in 2023:
- Long stays in Workation
Post- COVID, a new trend of long stays for workation, has gained immense popularity, especially in the private sector. Companies are functioning through online mode, and people are taking workation to different cities or countries. Property managers can jump on the bandwagon to leverage profits by providing attractive plans for the long stay of workation.
Luxury hotels, resorts, travel companies, etc, are accommodating the needs of people and curating plans to transform people’s Work From Home routine to Workation.
Adopting the new trend of workation, which seems to continue in the coming years, property managers are offering a wide range of packages. The trend has gained popularity by providing suitable workspaces, WiFi, kitchen area, and playing area with cordial hospitality.
2 Seamless Booking Experience
Direct Bookings has become quite a hit post-pandemic. A Direct booking is a website through which you can put your property on online display with a brief description to familiarize your potential guest with the property. Further, it enables them to make reservations without the intervention of any third-party site. Companies have/ are developing short-term rental management software to streamline their business processes and provide lucrative offers for long stays for a workation. Short-term rentals are beginning to overtake conventional lodging. It gathers attention by offering affordable opportunities to experience different neighborhoods, enjoy the local culture and develop a sense of familiarity.
3 Rural and Coastal destinations are trending
The demand for domestic stays has scaled up after COVID with preferences for small-town countryside locations. The increasing demands of the guest and the enhanced capacity for the available commercial housing as vacation rentals in small towns have enabled the customization of homes according to the needs of the guests. Hence, it has attracted businesses as well as individuals to invest in vacation rentals in rural and small towns even more.
The vacation rental lodging business trend is rising on the charts because of numerous significant factors. The factors include a better economy and stable condition in the tourism industry post-pandemic, availability of properties at affordable prices put forth by user-friendly web-based surfing, and multiple safe transaction platforms.