Holiday or Corporate Stays – What’s best for your Aberdeenshire STL property?
As an STL property owner, it's important to understand the key differences between holiday homes and corporate accommodation. While both options offer short-term accommodations, they cater to distinct guest needs and require different approaches. At Heritage, we can help you to identify your ideal target market based on several factors including property type, location, and local amenities, and we have strategies to market your property to best suit this.
In this blog post, we will explore the main contrasts between each type of guest and how you can market your property towards them to maximise the potential of your STL property.
Discover Your Target Audience
Holiday lets, also referred to as self-catering accommodation, are properties that are primarily designed for individuals or families for short periods of time, typically for leisure or recreational purposes. These properties can range from cosy holiday cottages to luxurious city apartments. They attract families, couples, and groups of friends looking for a temporary home-away-from-home during their trips. These guests are seeking relaxation, exploration, and immersion in local culture and attractions.
Corporate stays, on the other hand, target business professionals and individuals on temporary work assignments, such as building contractors, shop fitters, or professionals in the Energy industry.
These guests require accommodation that caters to their work-related needs, such as a comfortable workspace, proximity to business hubs, parking spaces for multiple cars or vans, and access to amenities that support productivity during their stay.
How long will guests stay?
Holiday guests typically book for shorter durations, ranging from a few nights to a couple of weeks. Holidaymakers often seek flexible stays to fit their travel itineraries and use the property to explore different destinations. However, some guests may opt for longer stays, particularly during off-peak seasons or for extended family holidays.
Corporate stays tend to be longer in duration, typically spanning weeks to months. Business professionals may require accommodation for the duration of a project, training program, or temporary work assignment. They seek the convenience and comfort of a home-like environment while they are working away from home.
Seasonality & Booking Patterns
Holiday lets often experience seasonal variations, with peak booking periods during holidays, school breaks, and summer months. It's crucial for landlords to anticipate and capitalise on these peak seasons to boost occupancy rates and rental income. Effective marketing, attractive pricing strategies, and high-quality amenities can help attract guests during these periods. At Heritage, we use smart pricing software to ensure your rates are always maximised.
Unlike holiday lets, corporate stays are typically less affected by seasonality. Business professionals may require accommodation throughout the year, depending on the nature of their work and the industry they're in. They tend to use the property from Monday to Friday during their work week, which can also leave your property available for shorter stays over the weekend. Due to Aberdeen’s Energy industry, the corporate stay market in the area is thriving. At Heritage, we have built relationships with corporate clients, relocation agencies, and HR departments that allow us to secure consistent bookings for your property.
What are the property requirements for my guests?
Holiday lets often focus on providing comfort, entertainment, and local experiences for tourists. The North East of Scotland is a haven for outdoor enthusiasts, and proximity to tourist attractions, beaches, or scenic landscapes can also be a significant selling point for holiday properties. Families and groups who are travelling together tend to seek properties with ample space, multiple bedrooms, well-equipped kitchens, and outdoor areas so they can spend time together in a home-away-from-home environment. Properties thrive when they are well-decorated with the guest in mind - soft furnishings, home accessories, and personal touches can make a huge difference.
Corporate stay properties, however, need to prioritise functionality and practicality. Business professionals require amenities such as high-speed internet, a dedicated workspace, comfortable furnishings, and access to services like housekeeping and laundry facilities. Proximity to business districts, transport links, and conference centres is also crucial for convenience and efficient travel.
What about a mixed approach?
Along with targeting purely corporate or holiday stays, some properties can also benefit from using a mixed approach by catering to both markets. By mixing your audiences you can supplement your income on the quieter, off-season months with corporate professionals, or maximise your occupancy with corporate stays during the week and additional weekend holiday guests.
Understanding the differences between holiday and corporate accommodation is essential for landlords looking to optimise their bookings. By tailoring your approach, marketing strategies, and property offerings to suit the target audience and purpose, you can attract the right guests, increase your occupancy and maximise your income.
At Heritage, our team of experts will keep you on the right track when deciding your target market and can help you to furnish your home and market your property to meet the specific needs of your potential guests.
You can find out more about our STL management services here or get in touch to have a chat with our team.
