How to Build a profitable vacation Rental or Airbnb business in India.
In India After the pandemic, people now, more than ever want to travel and experience different places, cultures, food, and nature. The majority of these people are also willing to switch from the experience that a hotel room provides, to a more serene, well-connected, and unique experience by booking their stays on Airbnb.
Such travelers are looking for a holistic experience rather than just 4 walls and a bed. As of 2022, homestay culture is growing in our country by a whopping 200% annually. With so much competition owning a boring vacation home is not going to help you get close to building a profitable vacation rental or Airbnb business in India.
Source - https://www.tripadvisor.com/VacationRentalReview
We have all been to homestays ourselves to wind away and a couple of these stays truly stand out. And most of the time we booked stays because of the fantastic views and surroundings. All of us want to wind away to places that are dreamy. And in cases where we don’t have the best experience, it is usually because the space does not excite us at all.
A unique experience is what a lot of homestays lack which would attract high-paying guests. Now, if you have already tried to list your property up and get more eyeballs to your property, you must already know that running a successful Airbnb business in India does not end with designing it with all the fancy things but extends to the service the guest is being offered, letting more and more people know about your property, and making sure your property is getting booked consistently so you can maintain the property and also earn from it.
4 crucial factors to consider for you the achieve the same
1. choosing a land:
Most of you may already have crossed this stage, but for those who have not, pay extreme care and attention to choosing the land wisely before making a deal. You need to consider a few things while buying land, some of which are:
a. Make sure the property is connected and accessible for people: Even if you manage to buy a beautiful property. Still, if it does not have direct access then you will need to break your head into figuring out the accessibility for your property.
b. Consider the location: Secondly while making an investment in land, it’s better to do some research and homework regarding the location. You could check out the Development plan for that area and look for any proposed roads which currently do not exist. This way if you invest right now and a new road gets built by your property then naturally the prices skyrocket and the road also makes it super accessible for you and your guests.
c. Consider the context and the geography around: This is quite obvious! However, you must consider the surroundings, views, and landscape near the land that you wish to buy. Check if there are gorgeous views, Lush green trees, a small stream flowing by, or any such natural features that may add a beautiful character to your property.
2. Creating a Unique Experience:
Now, of course, just buying an amazing land won’t win the game for you. As we saw that vacation rental industry is growing 200% annually which means there are thousands of properties getting added as vacation rental listing every year. With so much competition and everyone offering the same four walls and roof, pricing becomes the only differentiating factor allowing travelers to compare your listing just like potatoes and onions where the cheapest rental gets the booking. If a traveler isn’t aware of the unique experience that you are offering and comes across 5 other listings, then the ones who are charging low get the booking. Because everybody is offering the same experience.
To avoid this from happening to youYou will need a really beautiful space that gives the end user the most exquisite and unique experience. There used to be and there still is a common notion among people that a holiday home or any other home for that matter is just four walls and a roof that can be easily built by a civil engineer or a contractor. What people don’t realize is that this is supposed to be a vacation home and people often come here to unwind, relax and connect with nature. So always consider getting your vacation rental designed as an investment rather than an expense.
Source - http://curiouswayfarer.com/3. Be the best at hosting:
Imagine vacationing in Dubai. You enter your vacation rental and there is a plate of freshly baked zaatar with some freshly blended hummus, regional dates, and other dry fruits. Won’t you be delighted to receive such a heartwarming goodie from your host right on your first day? It's a small effort and an even smaller investment to enhance the experience of your guests.
People often just provide keys to their guests to a home that is bland, boring, and lifeless. Hosts settle for the fact that providing merely a roof and a couple of beds is more than enough. Think of it from a traveler's point of view. You definitely want the best experience, especially if you are paying high.
In order to fetch higher payments. All you have to do is make small investments to give your guests a beautiful experience of your Region or city. Trust me it only costs 10% of the rental you receive to enhance their experience multifold and there is a way to do it.
4. Reaching more and more quality people:
Having done everything and building a beautiful, serene vacation home. Now you are wondering, how to reach quality people across the world, and share the experience you have created with them to earn a lot of money.
Your property won’t attract people if you don't click pictures or shoot videos to portray the experiences that you are offering.
It is crucial to upload high-quality pictures of your property on social media and hosting websites that lure people and make them want to pay a higher price to experience your vacation rental.
Secondly, you can also collaborate with influencers and bloggers if you believe you have an exceptional experience for them at your vacation rental.
5. Engagement with the local community and its culture:
In addition to your stay and experience, you can also collaborate with the nearby community of locals to arrange walks, treks, or local events which your guests can enjoy at a small extra cost. This will enable your guest to explore the region a lot more at the same time help the community generate some revenue too.
This will surely not give you a direct benefit but will act as a major attraction for people who want to experience the culture and the region that your vacation home is situated in.
Starting an airbnb business is easy. Lakhs of homeowners are doing it. However, making your airbnb profitable will require you to take necessary steps to create a unique beautiful experience that provides your guests the comfort and satisfaction they need from their vacation.
Dhool Design Studio helps holiday home owners to create beautiful experience that are well connected with nature to attract more quality guests who are willing to pay premium prices for it. Click the button below to schedule a call to discuss your Farm House Project.
DHOOL DESIGN STUDIO
Huzefa Bandukwala
Vacation Rental Design Strategist
How to turn your vacant piece of land into a profitable Vacation Rental
How to turn your vacant piece of land into a
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