Every business needs a brand, but is it beneficial to transform your holiday rental property into a hospitality brand? Should you establish a luxury villa brand or better partner with a holiday rental or property management company?
Today, a rental villa can’t just be a space with facilities to gain popularity. It should provide a complete experience for guests.
The market is filled with property management and holiday rental companies that do a nice job for their brand. The problem is that their business model is not about each villa but about their brand. See Luxury Villa Brand VS Managing company.
Online travel agencies (OTAs) such as Airbnb, Booking.com, and Agoda have made holiday rentals a common choice for travellers.
What tourists have to say
More tourists prefer private properties with private swimming pools to overcrowded hotels with questionable pool water with lots of noisy kids running around. This shift in travel preferences has created a high demand for holiday properties in resort locations. Even Hospitality Groups are now redirecting their business to Holiday Property.
For example, the Property selection by the Luxury Hospitality brand Marriott Bonvoy which owns Hotels like W Hotel, Ritz Carlton, Sheraton, St. Regis etc is now offering Holiday Villas for rent at Homes and Villas by Marriott & Accord Group, which owns Hotel brands like Mercure Hotel , Banyan Tree, Fairmont, Movenpick, Pullman, Sofitel So etc is offering Luxury Villas for rent under the brand of One fine stay.
The rise in demand and market saturation has necessitated unique branding strategies to stand out.
Starting as an independent property brand today is more viable than ever before. However, creating an independent brand isn’t the only way to profit from a rental property. A unique brand caters to a specific type of property. Let’s discover if it will work for your property.
Related posts:
- How to Market your Luxury Villa like a Pro?
- How to get a maximum of bookings for a luxury holiday villa?
- Property Marketing: What is a Luxury Villa Brand?
- How to know if your luxury holiday property needs a brand?
- The 3 fundamental rules of Pinterest for holiday villas and hotels
- Luxury Villa Launch: How long does it take?
- The Perfect Luxury Villa – Property owner’s Midnight story
- Does your business have a brand or does it rely on your staff?
- How to launch a luxury holiday villa brand the right way?
Here are the most effective strategies for villa owners to secure bookings for their holiday rental properties:
- Manage Online Travel Agencies (OTAs) personally, or hire an assistant to handle them for you.
- Partner with a Property management company and grant them full authority to manage your property.
- Establish a unique brand and manage the property independently. You can hire a marketing agency like FAMEsolutely and form your in-villa staff team managed by a villa manager.
Each of these options suits different types of properties. Below is a simple test to determine if becoming an independent hospitality brand could increase your holiday rental revenue.
Test: Three simple questions to define a Luxury Villa brand’s potential
- Does the property consist of more than 2 villas?
- Do you have an in-villa staff team? (Like a villa manager, maids, chef, gardener etc.)
- Do you charge more than 1’000 USD/night on average for 3 bedrooms?
Find the results of your test to know if a Luxury Villa Brand will work for your property
Result: All Yes
If you answered ‘Yes’ to all three questions, consider turning your property into a Hospitality brand. You meet all the criteria to elevate your business.
Feel free to contact us to discuss making your property absolutely famous!
Result: Two Yes
If you answered ‘Yes’ to two questions, it could work for you if you plan to make future changes.
We recommend beginning with a logo, brand identity, and collateral marketing material to display within the villa. Then, consider working with holiday rental agencies, or advertising with OTAs.
Don’t hesitate to contact us, and let’s chat about how we can make your property absolutely famous!
Result: One Yes, or less
If you answered ‘Yes’ to just one question or less, it’s preferable for you to work with a property management company or holiday rental agency.
Tell me WHY?
Why more than two villas?
Having more villas makes it easier to secure bookings. If one villa is not available on certain dates, you can offer another one. As well as offering multiple villas together for big groups.
Perhaps, if you have one villa with 8 bedrooms that can be rented separately, it could potentially be equivalent to having 2 separate villas.
Why in-house staff?
A brand is primarily defined by its service standards and the consistency of these standards. A team that works strictly according to these standards offers this consistency. While it’s possible to work with third-party companies, they will likely follow their own company rules, limiting your control over them compared to an in-house team.
Therefore, if you don’t have an in-house staff team and don’t intend to hire one, it’s more advantageous to collaborate with a managing company that will provide you with staff.
Why a minimum rate per night?
Businesses depend on revenue. With lower rates, it becomes challenging to make a profit, maintain an in-house team, or retrieve the investment made in brand creation, launching, and marketing maintenance fees.
However, if you have eight 2-bedroom villas priced at $500 per night, this model could still be profitable.
Need help with your luxury villa brand?
Don’t hesitate to contact us. We have created successful tailor-made marketing solutions for luxury properties in Koh Samui for many years.
Also, check our Luxury villa brand-related case studies:
Are you ready to upgrade your business to a new level?
At FAMEsolutely – we make brands Absolutely Famous!