UK: AltoVita, a business accommodation and services platform, shares some tips on how to optimise booking flow and market properties for extended stays.
The COVID-19 pandemic has caused the short-term rental industry to suffer from a decline in reservations and revenue, with companies like Vacasa announcing immediate and large-scale layoffs.
AltoVita has nevertheless reported that across its homes and destinations, corporate travellers are making midterm bookings – that is, bookings between 30 and 90 days.
It comes as corporate travellers are in need of emergency accommodation, homes for self-isolation, or last-minute relocation.
As such, AltoVita has launched an initiative for property management companies and homeowners to optimise portfolios and bolster extended stay offerings.
The initiative involves:
- Applying reduced rates for monthly stays, and to push rates through PMS and channel managers.
- Being responsive and reliable to all requests.
- Adding weekly cleaning for monthly stays.
- Making sure properties are well-designed, spotless and suitable for extended stays
— modern amenities, including washers, iron and ironing boards, are a must.
- Waiving security deposits for corporate clients.
AltoVita is also organising consultation sessions to discuss ways in which content can be optimised across OTAs.
Homeowners are able to schedule a call with the AltoVita team through Calendly. The consulting sessions are open to any short-term rental providers looking to learn about the corporate housing sector.
Karolina Saviova, COO at AltoVita, said: “Based on the feedback of over 100 global mobility managers, we are expecting more demand for corporate housing later this year, so it would be good for homeowners or property managers who would like to target this audience to align their properties to corporate standards.”
“The optimisation effort will also pay off in a post-crisis world, as property managers will learn that they could offload many elements of heavy operations with the use of technology and innovation.”