For the last 2 years since the pandemic hits, vacation rental industry has experienced wild and quick switch of trends that changes everything. Now that most of the populations are fully vaccinated and travelling business has learned every little details of safety measure and do everything they can to apply guest safety standard to their property, the world seems to be ready to travel again. Many of the pandemic’s tendencies will continue to gain traction in the coming year. Throughout the previous year, the increasing popularity of short-term rentals, constant supply and labor shortages, standardization of remote work, and rising guest expectations have drastically transformed business standards in the vacation rental industry. Here the 2022 vacation rental trend prediction every owners and managers of villas in Bali need to know to rise up and bring back the business like how it used to be.
Guests Would Still Prefer Vacation Rentals with Flexible Cancellations
As travel uncertainty persists, visitors still want the opportunity to cancel their reservations and receive a full or partial refund if their plans change.
Property managers are more financially exposed when they have guest-friendly cancellation policies. However, OTAs’ rules for flexible cancellation have become more established. Property managers will need to become more agile in order to handle last-minute cancellations and fill them with last-minute bookings. Flexible cancellation rules, in combination with low-touch operations, should boost bookings.
Guests Coming for Work from Anywhere Opportunity
The “work from anywhere” trend will persist until 2022, when it will become commonplace. A lot of companies found that productivity increases when employee has the flexibility of workplace and offer an established WFH opportunity as one of the work benefit. The government of Indonesia especially endorsed “work from Bali” promotion program to help the island bounce back to normal. Your Bali villas need to adapt to this opportunity and equip it with decent facilities for remote working.
Guests who want to work and play from home will lengthen their stay, affecting what vacation rentals in Bali has to offer. Local businesses that used to cater to rotating vs. long-term visitors will be affected and will need to adjust.
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Business Trip Will Return
While it may take many years for corporate travel to return to pre-2020 levels, 2022 could be the year it finally takes off. Because so many more people have stayed in vacation rentals since COVID, vacation rentals will begin to receive a share of business travel that they have never had before.
If property managers wish to attract these types of visitors, they must ensure that their rental properties are ready to receive them. Vacation rentals will need to respond by providing more business travel-friendly facilities and assurances, such as free WiFi and convenient transportation, as well as places that can accommodate more visitors at once. Apartment managers that cater to digital nomads and lifestyle travelers will acquire more corporate business travel contracts as a result of their longer-stay facilities that traditional hotels lack.
Guests Still Love Rural and Outdoor Bali Villas
Certain types and locations of villas in Bali are better positioned to attract guests than others as traveler behavior has changed.
Longer, domestic, and low-touch stays will continue to drive core revenue for property managers, but overall short-term rental reservations and even foreign travel will progressively rebound. Larger houses in more rural places are experiencing more demand and higher ADR than in 2019. For those trying to shape their investment and growth into the new year, larger private vacation houses in Bali with swimming pool in more rural settings will be seeing more demand and higher ADR than in 2019.
According to Evolve CEO Brian Egan, they recently polled over 5,000 visitors and discovered that 58 percent want to explore the outdoors next year, and 68 percent want to arrange trips around wellness and relaxation.
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Technology that improves the visitor experience and protects the host will be in more demand
Hosts who want more optimization tools, more money, and efficiencies they can’t get on their own will be a target for property managers aiming to acquire market share. PMs and hosts will once again turn to technology to implement smart tools that will provide not only hands-free touches and high-speed internet, but also a layer of oversight and property protection, such as noise and smoke alarm notifications, as well as other security tools that will alert the host to rental abuse.
