Is your short term vacation let geared towards millennials? If not, you may be missing out on a chance to increase your bookings and grow your reach. Comprising the segment of the population that were born between 1980 and 2000, millennials make up a significant portion of the overall travel market.
While baby boomers and other generation groups also account for a fair share of the travel to South Africa, millennial travel is on the rise. Festivals and events taking place in cities such as Cape Town attract a number of millennial travellers each year. Arts, food and wine, and music festivals are especially popular with this generation. It’s not only festivals that are attracting this age group, either. According to a local specialist focused on Middle East and Africa travel, work travel has changed over the years to include a mixture of work and play.
What does this mean for you as a short term vacation let owner, and how can you target millennial travellers more effectively?
Positioning Your Short Term Vacation Let to Millennials
Some things to keep in mind when attracting millennials to your short term vacation let include the following:
- Airbnb style accommodation is in higher demand than hotels. According to recent survey done by LendEDU, millennials are more likely to choose vacation rentals over big-name hotels. The reason for this is that short term lets offer far more flexibility than traditional hotels. For millennials who are travelling for work, it is vital to be able to come and go without any strict rules or hours to follow. Don’t assume that it means that any old rental will do, however…
- Hotel grade accommodation is key. Even if they don’t choose hotels as often as they choose short term rentals, many do not settle for poor quality. The secret to truly succeeding with this market is to aim to provide hotel-grade quality with the freedom of a short term vacation let. How do you achieve that, you may be wondering? It’s simple – invest in professional short term rental management that provides a full spectrum of services, from bookings and marketing all the day to day to day management and guest concierge. It really is as easy as that.
- Experiences are just as important as lodgings. The ‘bleisure’ (business + leisure) trend is growing rapidly. Exedia notes that employees under 30 years of age are travelling 4.7 times more often each year on business compared to those over 30 years of age. At least 62% are more likely to add more time to their business trips to take in cultural experiences and discover more of the country they are visiting. The lesson here: think about how you can add value to your younger guests. Concierge is one way, but you could also create personalised area guides that include interesting experiences and things to see and do beyond the norm.
- Group travel is growing in this sector. Millennials are fond of group travel. For you as a short term rental owner, this means making sure that your property is catered to groups. Smaller rentals obviously need to keep their focus on small groups of up to four people, while those with more space can cater to larger groups. For more advice on dealing with fair sized groups, view our tips on holiday letting for larger groups.
Ready to learn more about working with a dedicated short term rental manager? Contact the Totalstay team today to find out more about investing in short term vacation let management.