10 Nov PAYDAY BREAKS CONTINUE TO DRIVE SHORT-LET MARKET
According to data from leading Proptech firm Staykeepers, which specialises in increasing net operating income across a multitude of property types, the most popular period for short stay check-ins is the first week of a new month, with people looking to enjoy a payday getaway. The research highlights a spike in check-ins in the first week of the month, with 37% of all registered check-ins occurring on Fridays and Saturdays.
Staykeepers’ technology monitors both occupancy and gaps between bookings. The system adapts pricing and promotion to fill any holes and raise occupancy levels, including longer lengths of stay.
Commenting on the trend, Ivo Gospodinov Co-Founder and Director of Staykeepers, said: “Payday weekend breaks remain a major driver of the short-let market, with consumers moving away from traditional accommodation providers, such as hotels and hostels, to other high-quality spaces, such as dedicated BtR and PBSA spaces.
“The key to success in short term rentals is consistency in revenue and occupancy, which can be attained through an effective strategy and implementation. Staykeepers work closely with our partners to identify these trends and maximise the busy periods, but also identify quiet periods and how to market empty apartments effectively.”
The increase in quality of BtR and student accommodation blocks, as well as many being located in the heart of towns and cities, holidaymakers are taking advantage and booking these spaces for their short breaks.
Private rooms (en-suites) are the most popular accommodation choice among Staykeepers’ clients, with 69.8% listing private rooms for flexible stays compared to 26.9% opting for a studio and 3.3% offering a shared bedroom.
Ivo added: “We are always fascinated, when our latest set of data comes through, to see the trends that are beginning to appear and what is clear is that short stay holidaymakers are valuing and trusting alternative accommodation. The majority of new city centre BtR and student accommodation buildings are now on a par or greater quality than a large multi-room hotel, and with less overheads the rooms can be cheaper, which is an attractive prospect in the current climate.”
Founded in 2015, Staykeepers is one of the UK’s leading property technology companies focused on connecting quality build to rent, co-living and student accommodation with guests and travellers around the world.
Active in over 57 cities around the world and working with some of the biggest multi-purpose accommodation operators, Staykeepers works to fill short term and long term lets, affording its landlords and investors maximum exposure across world-leading platforms such as Boking, AirBnB and Expedia.
