Travelling and local tourism is easily the backbone of our country’s economy. And, why would it not be when every other town is scenic and worth visiting over and over? Our unique terrain and rich heritage make exploring India a delight for everyone.
But there was a minor hiccup in this process. The state of accommodations and the lack of managed stays had been preventing people from exploring all the remote corners of India. However, these are now problems of the past, with short-term vacation rental homes and managed stays becoming more accessible than ever.
Tourists and travellers do not have to settle for any substandard hotel room, when they have an abundant choice of stays.
Add the apprehension of staying in random hotel rooms with concerns of cleanliness and sanitation, managed stays for private and entertaining holidays are becoming the norm.
The changing Era of Vacation Rentals
Before we dive into what changed in vacation rentals, we have to understand the transformation in the mindset of an average traveller since the COVID-19 pandemic.
It has become about spending quality time with friends, family, colleagues, or indulging in alone time. In the last two years, we have people investing more in relationship building during vacations than chasing a milestone or travel checklist.
Staycations to get away from the boredom of WFH life and reconnect with colleagues they have not seen in a while, are fast becoming the norm too.
So it is no surprise that the billion dollar Indian vacation rental industry is growing faster in the homestays, cottages, private homes, and managed stays sector than the hotel sector.
What can a Home Owner expect from this new era?
When India’s hospitality sector boomed a few years ago with managed stays and private residences going as short term vacation rentals, investment in this sector went up as well. Many Home Owners invested in properties in offbeat and tourist-friendly locations that can work as vacation rentals.
Yes, the COVID-19 pandemic did impact this sector quite a bit. But, as the SaffronStays’ homeowners will tell you, the recovery for managed stays has been quite quicker and stronger than the typical hotel industry.
But we can’t deny that the times are changing and the new era of vacation rentals is here.
So what can homeowners look to invest or expect from this industry?
- Well, for starters, as the apprehension around travel during the COVID-19 pandemic settles down, you can expect a revival in demand. We are already seeing the signs for it.
- You can expect that the travelers will flock to easily accessible, well-maintained, and modern homes to spend their vacation days in, instead of a hotel room. This means that this time calls for strategic investments in these homes right about now.
- The plug and play model will also evolve into the managed stays model where travelers expect the vibe of a homestay but the convenience of a hotel. Rustic homes with a cook and WiFi basically. So, investments here are also in order.
What does a guest look for in vacation rentals?
You can only manage the supply side the right way when you know what the demand is for.
So let us take a look at what will a guest or traveller’s priority be in the new era of vacation rentals?
Obviously, as per the trends we just discussed, the needs now go beyond just a place to stay and some decent facilities. They are looking for places that are safe and allow them to experience a blissful vacation, if not more.
- For starters, the property’s location is very important. While offbeat getaways are becoming popular, connectivity is an important factor as well. Secluded properties that offer privacy, but also offer basic connectivity will work the best. If there are accessibility issues, guests expect the property owner or managing firm to assist.
- When we speak of experience, we do not mean just the rooms. Everything about the property matters. In the era of Instagram and consistent travel vlogging, you have to work on some vanity metrics too. Well maintained property, beautiful grounds, gardens, and a view can boost the value of the vacation rental.
- Last but definitely not least, the properties must be clean to a fault. The pandemic has heightened everyone’s views on cleanliness and contamination, so ensure you have this down to a pat.
Are you interested in being a part of the new era of vacation rentals, but are not sure how to begin? Connect with the Saffronstays team, and we would be happy to help you.
