Converting Old Vacation Rental Communities into Modern Short-Term Rental Experiences (Ep543)
Summary
This article discusses the opportunity to revitalize aging vacation rental properties like boutique hotels and cabin communities to grow your STR brand, particularly in the face of local regulations. The hosts share how modernizing amenities, improving marketing, and streamlining operations boosted occupancy and ADR. Consider exploring older properties and incorporating modern practices to enhance your bottom line.
Key Insights
- •Modernizing old hotel and vacation community properties can increase your bottom line and equity.
- •By incorporating modern amenities, enhancing marketing and messaging, and streamlining operations, occupancy and ADR can be boosted within the first 45 days.
Action Items
- ✓Consider buying boutique hotels, cabin communities, and other aging vacation rental properties.Effort: highImpact: high
Tools & Resources
- →Hicksville Trailer Palace: Hicksville Trailer Palace
- →Legends X Short-Term Rental Accelerator: Legends X Short-Term Rental Accelerator
- →Bolt Farm Treehouse: Bolt Farm Treehouse
- →STR Legends Mastermind: STR Legends Mastermind
- →Get Paid for Your Pad Email List: Get Paid for Your Pad Email List
Common Mistakes
- ⚠Failing to modernize and adapt to the current STR market.
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Airbnb is offering a $750 incentive to attract new hosts to list their properties for the World Cup. This move aims to ensure sufficient accommodation for visitors during the event. This initiative highlights the importance of short-term rentals in accommodating large-scale events and provides a financial benefit for new hosts.
Curated by Learn STR by GoStudioM