27 January 2020 • Host News
Generation Z are fuelling returns for vacation rental landlords. Professional landlords are tapping into the rapidly expanding short-term rental market led by companies such as Airbnb, HomeAway and Booking.com.
In an effort to boost yields across their portfolios, residential landlords are turning to the vacation rental market to maximize rental returns and reduce voids in a low-yield environment and are harnessing the latest in management software to improve efficiency.
GuestHug is leading the way in the industry and uses similar technology to that used by the likes of Uber and Deliveroo, to automatically checks guests in when they arrive at the property using geolocation as a trigger. An in-app welcome video also greets guests remotely giving hosts the ability to deliver a personalised experience even when they can’t be there in person.
The removal of ‘in-person’ check barriers through the use of management apps and smart-lock solutions such as Nest, August and Nuki mean that professional landlords now have the tools available to them to rapidly scale their operations whilst keeping overheads at a minimum.
The increasing trend towards alternative accommodation preferences over more traditional hotels is driven by Gen Z and Millennials demanding a multi-option and multi-location offer which is not catered for by hotels which tend to be clustered in the traditional tourist zones. Eating, drinking and staying local is a trend that appears to be here to stay.
Read the full the article in Propmodo .