2023-24’ Vacation Rental Trends
Do you own a vacation rental home currently or are you thinking about joining the thousands capitalizing on second home stardom? If you answered yes, then this one’s for you. We are always looking for the newest, most current ways to stay at the top of your game in this ever changing industry. We have done all of the research so you don’t have to. After returning from the first ever, Vacation Rental Design Summit and Market in High Point, NC, we are ready to dish on all of the ‘secrets’ your competition doesn’t want you to know.
Interior Trends To Make You Stand Out
Whoever said looks don’t matter? Gone are the days where you could just snap a few pictures, create an airbnb listing, and cross your fingers for bookings. Unless you have been living under a rock (literally) you may have noticed that the vacation rental industry is kind of a big deal. It is estimated that there are over 2 million, professionally managed vacation homes nationwide and that number is growing fast. It is important to stay on top of design trends so that your listing feels fresh and updated, and allows your guests to escape from the boring, same ol’ same routine. No one wants to vacation in a home that looks just like theirs. This is why the properties that are professionally designed by experts, like us, have higher occupancy rates, longer stays, and gross more money than their average looking counterparts. We saw all kinds of awesome trends emerging in the design industry that aren’t just reserved for luxury homes, pricey interior designer expertise or deep pockets. There is a growing market for products that are affordable, sustainable, and exciting. Some of our favorite trends were the use of supersized lighting, curvy furniture, banquet seating, and bold accents. Adding visual interest through pattern and texture could be done with upholstery or wallpaper or, if you’re non-committal, you can add fun accents through less permanent additions like throw pillows, accessories and artwork. These can also be changed out seasonally or when you are in need of a refresh and, they are budget friendly options for staying on trend.
Tell A Story
Speaking of standing out, what better way to catch a travelers attention then by telling a story? Is there something unique about your property or your area that you can highlight throughout the home? For example, if you have a historic home, design it for the time that it was built. Tastefully revive the spirit and character of that style to transport guests back in time. If your property is a destination for golfing, don’t be afraid to incorporate sports flavor, vintage clubs and add a putting green to attract those avid players. Perhaps you are in a popular destination for Bachelor/Bachelorette parties like we are here in sunny Scottsdale. You can really go wild with neon, murals, wallpaper, games and themed rooms to make those properties memorable for all those insta-worthy photo shoots. The point here is, go bold or go home. You aren’t designing for your personal taste; this is a business, and your goal should be capitalizing on your niche. Take high quality, PROFESSIONAL photos and don’t be afraid to add people, yes, you heard that right. People want to see other people enjoying and vacationing in your space. This could be a pool party, bbq or work from home shot to capture the amenities you have to offer.
Research, Research, and Did We Say Research?
The only way to know where the gaps in the market are is to do your homework. You must get onto the popular hosting sites, google vacation rentals in your area and even do some recon yourself by booking a couple of stay-cations near where your hosting. This might be the single most important part of building your brand. If you don’t know what is working and what isn’t in your area, you’re just chasing a moving target. Once you have compiled your research, start brainstorming, and get creative. If you aren’t an expert in this field (most aren’t) call us, or someone in your area who can thoughtfully take you through this process. It’s important during this step to also determine what your budget will be so that you can plan for your initial investment and what you can expect in return. Remember, this IS an investment, but we don’t want it to ‘cost’ you. Bad design choices or missing the mark entirely will result in low occupancy, low nightly rates and even lower reviews. This is a STR catastrophe and one you will surely want to avoid.
Barefoot Luxury Experiences
This is our new favorite phrase, what is barefoot luxury and what does it mean to your brand? We’ve all seen those super dreamy, 10k a night homes hanging over the cliffs in the jungle that are out of reach for most travelers. The great news is there’s no reason you can’t provide a luxurious experience for your guests at any price point. Most avid travelers now are more concerned with sustainability, accessibility, ease of travel and all of the comforts of home. Depending on your budget, this could mean simply providing snacks and water at check in. Have high quality mattresses and linens. Make sure your coffee station is stocked with coffee pods, creamer and sugar packets. Carry the basics in your cabinets like spices, oils for cooking plenty of trash bags, detergents. Not only is this good practice, but it also makes it easy for your guests to keep your place neat and tidy. If you want to really create a memorable experience, consider offering robes in each bedroom, slippers, aromatherapy soaps, q-tips, make up remover cloths and feminine products. Maybe you offer curated guest experiences through a concierge service where you can book excursions, massage, hair appointments, dinner reservations and grocery delivery upon check in. The sky is the limit here, get creative based on your demographic and who you want to attract.
All Inclusive
This is not what you think, no we aren’t trying to suggest that you’re preparing every meal or breaking the bank by offering unlimited amenities. We are talking about being thoughtful and intentional as a host. Did you know that 1 in 4 people in the US suffer from a disability. Is there something you can do in your property to accommodate any special needs? This could be adding grab bars in the bathrooms, zero threshold doorways, wider hallways, appliances at lower levels, levered door handles or adding ramps to your entryways. There are so many minor adjustments you can make that will show your guests that you care about their individual experiences. Providing feminine products for women, cribs and high chairs for our littlest travelers and diverse products for different ethnic groups can be the best way to set yourself apart from your competition and create lasting memories. These guests will rave about the extras, they will tell all of their friends to book at your place and the reviews will surely keep your calendar full.
