Pass the Keys has welcomed seven new franchisees

Pass the Keys welcomes seven new franchisees

UK: Short-let property management firm Pass the Keys has welcomed seven new franchisees to its franchise, this time based in Chichester, the North York Moors, South Pembrokeshire, Wells, West Dorset, Scarborough and South Hams.

It takes the company’s total franchise number to 36.

Against the backdrop of the 2021 staycation boom, a recent study carried out by The Cumberland found that an overwhelming majority of Britons are planning to holiday within the UK [71 per cent], and that cottages are one of the most popular types of accommodation for those holidaying in Britain [31 per cent]. 

Together, the seven new franchise territories are expected to be visited by approximately 17 million tourists every year, many of whom require short-term accommodation.

The additional territories are part of Pass the Keys’ latest initiative for rural expansion to areas in which there is a demand for a new approach to short-let property management.

The company lists its holiday lets on the largest market platforms, including Expedia, and Airbnb, thereby increasing exposure and occupancy rates for its hosts as well as using pricing algorithms to give hosts the optimum nightly rate. 

In an interview in April 2021 with CNBC, Airbnb CEO Brain Chesky explained: “To meet the demand over the coming years, we’re going to need millions more hosts. I think that we probably will have a problem where there will probably be more guests coming to Airbnb than we’ll have hosts for, because we think there’s going to be a travel rebound coming that’s unlike anything we’ve ever seen.”

Last September, the company raised more than £1 million in investment through the Seedrs investment platform, more than 200 per cent over its original crowdfunding target.

Pass the Keys is continuing to seek new partners to provide a bespoke, “hassle-free” management solution to homeowners.

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