The Main Trends
Smart Homes
The integration of smart home technology is becoming a standard expectation in the UK accommodation market.
The reason being that these technologies enhance convenience, security, and energy efficiency. In 2024, we’re witnessing a broader adoption of these technologies not just in high-end properties but also in mid-range and affordable housing, as consumers seek homes that offer advanced tech features.
How is this impacting serviced stays? In the same way that buyers are looking for smart integrations, so are paying guests.
Digital Transformation in Property Transactions
Are you clued in on digital transformations? This term is used to describe the transition of tasks that were typically manual to being managed via automations and software.
The changes taking place in the accommodation industry mean buying, selling, and renting all now take place via digital platforms. Examples include online property portals, virtual tours, and digital contracts streamline the process, providing convenience for all parties involved.
How is this impacting serviced stays? Guests are more likely to book serviced accommodation via digital platforms due to increased trust and real-time availability. Property hosts are also able to benefit as their investments are presented more quickly to guests, meaning rapid fulfilment rates are the norm.
Sustainable Housing
It’s official, sustainability is no longer a niche to have but something many buyers and guests look for. In fact, customers are stating that features such as energy-efficiency ratings are a determining factor when choosing a property.
Developers are responding by incorporating green building practices and sustainable materials into their projects, which not only benefit the environment but also offer long-term cost savings for residents.
How is this impacting serviced stays? Some guests like to see that factors including sustainability have been considered when booking a stay. This means factors such as eco-fixtures and energy-ratings are essential to consider if you want to stand-out from competitor properties.
Build-to-Rent Developments
The Build-to-Rent sector continues to expand rapidly across the UK as the rental market remains fiercely competitive. This covers both short and long-term lets meaning property hosts have many opportunities ahead of them.
In 2024, we’re seeing more investment in BTR projects, especially in urban centres like London, Manchester, and Birmingham, where demand for high-quality rental accommodation remains robust.
How is this impacting serviced stays? With more property hosts looking to invest in homes for rent, it means the market is becoming more saturated. Although there is still space for new properties as demand is high, if a serviced stay doesn’t tick all of the boxes, hosts may find themselves with low booking levels.
At Comfy Workers, we work hard to support our property hosts by ensuring we have helped them market stays effectively. From advising on photos to writing converting listings, we do it all.
