BE A GUEST FAVOURITE

Where Property Meets Business and Hospitality

In recent years, the concept of serviced accommodation has surged in popularity, with many viewing it as a lucrative venture. However, the narrative around serviced accommodation often oversimplifies the reality, portraying it merely as a property play, when in fact, it is far more complex. But it is also beautifully simple!

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To succeed in this field, one must recognise that serviced accommodation is not just about owning a property; it is about operating a business—and a hospitality business with all that entails, to be precise.

It can be extremely lucrative but new entrants can end up hitting the target but missing the point. The big problem starts with expectations - if running an SA to beat the return achievable from BTL or HMO is the extent of your aspiration then you have probably missed the point AND the real opportunity. While its very likely that you will meet your goal - it was the wrong goal.

AND you probably left a lot of money on the table!

Understanding the Core of Serviced Accommodation

Serviced accommodation is a unique blend of property and hospitality with the aim of delivering guests excellent short stay experiences. Unlike traditional property investments, where the focus is primarily on acquiring, holding, and possibly flipping properties, serviced accommodation demands a hands-on approach and a key mental shift - a paradigm shift in fact….

The Paradigm Shift

The paradigm shift to one where you operate a business for the benefit of your guests - that you drive for positive reviews from guests who had a great stay, were at ease, were able to relax, created lasting memories and a longing to return to do it all over again.

You are providing an escape, a retreat, a place to recharge and rejuvenate or to socialise.

You are not painting it white with a few yellow scatter cushions and railing against guest requests while doing the absolute minimum.

Guests are demanding

Guests will have requests - guests will cancel and yes some will expect more than may be reasonable - but get over it. By and large they will treat your property better than long term tenants, you get access after every stay and you can remove them whenever they break your rules. On top of that AirBNB will market the property for you - all be it for a fee - and will protect you against guest damages.

Guests are not a pain in the ass - they are your future profit source. If you find yourself in tune with those on the plentiful Facebook SA moan groups stick to BTL or HMO's. Guests are great in almost all of their many guises.

Property Courses are only part of the solution

Property courses do not serve this area of investment well. The trainers are typically not business experts or hospitality experts - they are property experts.

They will get you up to speed with the property market - the ways to control properties and the solutions possible to generate profits - but they do not teach business skills or hospitality skills.

Summary

If you want to maximise the returns this business strategy offers then get an education or enlist the services of the right support infrastructure around you.

Last month our properties delivered a clear profit return on property costs of 326%. This wasn’t an exceptional month but the reviews say the guests had an exceptional time and would all recommend our properties.