The Endangered Species of Hospitality: Bed and Breakfast Properties | By Mandy Murry - Hospitality Net
Summary
This article discusses the challenges faced by Bed and Breakfast properties in the hospitality industry. While not directly focused on STRs, it's relevant as it highlights broader trends in hospitality that STR hosts should be aware of, particularly regarding competition and changing guest preferences.
Key Insights
- •The article's focus on Bed and Breakfasts indicates shifts in guest preferences and potential competitive pressures within the broader hospitality sector.
Action Items
- ✓Hosts should consider market research to understand local trends and guest preferences in their specific market to stay competitive.Effort: mediumImpact: medium
- ✓Review your amenities to see if your property is up to par with your local competition.Effort: lowImpact: medium
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The short-term rental market's growth is slowing, according to eKathimerini.com. This shift may affect occupancy rates and revenue for hosts. Understanding market trends is crucial for adapting pricing and marketing strategies, ensuring continued profitability.
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