July 29th, 2019

When it comes to vacation property rentals, today, bigger is better! A recent HomeAway Trend Report found that “demand for larger, unique properties like castle’s and estates rose by 55 and 25% respectively. While most of us don’t actually manage many castles, this trend is a good indicator that large vacation properties are growing in demand.

Another fact HomeAway’s report found is that the trend for larger rentals is being driven by Millennials. These 20-40 somethings are starting families and opting to travel with their extended families (the children’s grandparents) in tow. The report found that the number of extended families traveling with children has grown 325% in just the last 12 months.

In general, the trend of travelers seeking vacation rentals as opposed to hotels is growing. Vacation rentals offer more space per-person at a lower cost than a traditional hotel room. Unlike travelers who use their hotel room to sleep and shower, vacation home renters make better use of the space with many activities revolving around the property, like time spent around the pool, family cookouts, or relaxing on the deck with a good book and a glass of wine.

So how can you reach this growing demographic to market your larger properties?  You need to tweak your marketing to better address this target market. The right marketing strategy can increase reservations for your sometimes hard to rent oversized properties.

Adjust Your Marketing Approach: Expand Your Buyer Personas

When you first started in business you probably developed your marketing strategy based on the types of guests you wished to attract. Spend some time identifying those guests most likely to choose a larger property, for example:

• Families
  Larger properties are convenient for traveling families. Space, kitchen/dining and a washer/dryer are all great features that appeal to families. Think about the family-friendly amenities your property offers – like cots, toys, games, and highchairs. Use these in your marketing to reach families searching for amenities like these. It’ll give you an edge over your competitors.
• Groups
  Millennials like to travel in non-family groups. They’re looking for budget-friendly ways to vacation and a large rental gives them more bang for their buck. A large shared space reduces the nightly rate and the quality of amenities is often far superior to a hotel stay. Make sure you let visitors to your website know that your space is “group-friendly.” show pictures of groups enjoying your property on your website, solicit reviews from previous groups and use them on social media and your site.
• Businesses
  Plenty of companies hold annual retreats. Target your marketing to attract business-oriented events. Use social media like LinkedIn, Google Business, or Facebook to target prospects. Partner with other local services like caterers, or activities planers and offer packages.

Make Your Property Stand Out

Another way to attract larger groups is to position your property as the perfect venue for special events. This works especially well if you have a more distinctive property. Destination weddings, team building weekends, business conferences, or the perfect venue for a private party are all ways that you can make your property stand out.

Whether you’re marketing to families, businesses, or differentiating your property through positioning as a destination, you need to make sure that you offer the amenities that guests will appreciate. HomeAway found that the number one desired feature in a larger home was a pool. If you don’t have a pool, think personalization. Provide guests with a welcome basket full of local products, top quality toiletries or a stack of board games for spending rainy nights in with the family!

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