Suppose you are already familiar with Serviced Accommodation and starting to think in investing in it instead of on HMOs, for example. In that case, you are probably aware that there are different types of SA and specificities within the investment, such as the types of guests you are likely to find. Congratulations! You are entirely right in researching more about the guests since they will be the source of your profit and are likely to appreciate a property thought particularly for them.
With that in mind, you must try to understand the guests’ profile, the location and what type of market is likely to be looking for SA. Why would someone need to book a stay in your SA? Who are they going to be? What guests need serviced accommodation? This article will help you solve these questions by describing a few guest profiles that you may encounter along the journey and their needs.
So… who could be my guest and what guests need serviced accommodation?
When we think of Serviced Accommodation, we think of contractors, since this is the most popular type of Serviced Accommodation guest. Although contractors look for more extended stays and often require only the basics in a property, some different groups may have different needs. Some contractor clients may want to stay at the apartment all the time for a predetermined period, for example, especially if they live abroad. However, companies mostly ask them to stay only during the business week (from Monday to Friday).
This category of guests also comes with a variety of booking styles. Contractors work in groups, and sometimes the group manager may want to book the stay for all members, or the office is responsible for that. However, you are most likely to find contractors who prefer hustle-free bookings and will do it themselves.
Generally, contractors have a set of simple requirements. That includes a clean house, good location, parking spots, at least two people per bedroom, and as many bathrooms, rooms or beds as possible. Of course, many beds and rooms is not a fixed requirement, since the groups can vary greatly – you may need to host a small, 2-people group from England or a bigger team from abroad, staying for a few months.
Demand for contractors
Many towns in England have active and running infrastructure projects with large companies demanding qualified workers and contractors. These are construction developments that require a wide range of professionals that cannot always be found locally, such as builders, engineers, and electricians.
Because of that, contractors from outside the towns and even from abroad are being hired for seasonal work. As we mentioned earlier, they usually work from Monday to Friday, and some stay while others go back home for the weekends.
You may ask why they often choose to rent a SA over a hotel, and the answer is very straightforward. They want to feel at home. Many SA guests stay even a few months on-site, and because of that, they want to feel comfortable and have no worries. Hotels, besides expensive in the long run, do not provide as much privacy, space and facilities as a Serviced Apartment. People who choose SA prefer to have access to a living room to lounge with larger groups and a kitchen instead of eating out (which also saves them money).
Of course, you as a landlord will make the space comfortable. Still, these guest groups won’t need any unique interior design, for example. So, you should not worry about high costs for furnishing or preparing the property.
Corporate guests are very similar to contractors. They can book in groups or not, book for the week and stay over the weekends too, especially if coming from abroad. The requirements are also pretty similar. Besides the amenities, rooms and cleanliness, you should also offer some working space – a tip is to create a dedicated area in the living room with a desk or, if there is a spare room, implement a collaborative space for the teams.
Demand for corporate guests
Just like contractors, corporate guests are in high demand at all times. Companies in technology, healthcare and infrastructure, for example, are continually hiring specialists from different places. Local teams often need help and expertise from various national and international consultants. These guests usually prefer SA more than hotels as they want a place to relax and to have more privacy. SA also provides them with more room for working on projects. Sometimes they can work ”from home”, so having fully equipped apartment with working space is just perfect for them.
This is another popular group of guests looking for serviced accommodations. These guests are people travelling in leisure purposes, but who have different requirements than those visitors staying in hotels. Usually, SA leisure guests are groups of 3 to 10 people who would like to have more space and privacy. At the same time, they require comfort and entertainment. This category of guests is mostly comprised of members of the same family or friends travelling together.
Demand for leisure guests
If you are worried that your property will not attract this type of guest because of the location, don’t be. Although leisure guests can visit for typical travel purposes, such as tourism, they also come to visit their families. Events such weddings, graduations, family meetings are the main reasons. Because of that, they often book on weekends and bank holidays.
Why wouldn’t they choose a hotel? You may be asking again. SA is cheaper and much more convenient, and people are starting to realise that, making it an extremely promising investment. Leisure guests booking an SA don’t need a luxury place, but they want to enjoy where they are staying.
Guests and Serviced Accommodation
Do you still think people prefer hotels? If you are still afraid of beginning your SA business because of that, don’t worry! People are changing their booking habits, and SA is getting more popular and appealing to different audiences, especially to the ones mentioned above. This is an up-and-coming industry, and if you know about it and understand your market, SA is a perfect investment idea.
If you still would like to understand more about potential guests, let us know! We can help you with this matter and everything else related to SA investment. Contact us anytime! We can discuss your needs and help you decide once and for all how to begin your own SA business.