Data indicates payday getaways drive short-let market

Data from proptech firm Staykeepers indicates that payday getaways are a key driver of the short-let market.

Staykeepers data indicates payday getaways drive short-let market | PBSA News

According to data from Proptech firm Staykeepers, which specialises in increasing net operating income across a multitude of property types including purpose-built student accommodation (PBSA), the most popular period for short-stay check-ins is the first week of a new month following payday. The research highlights a spike in check-ins, with 37% of all registered check-ins occurring on Fridays and Saturdays.

Staykeepers’ technology monitors both occupancy and gaps between bookings. The system adapts pricing and promotion to fill any holes and raise occupancy levels, including longer lengths of stay.

“Payday weekend breaks remain a major driver of the short-let market, with consumers moving away from traditional accommodation providers, such as hotels and hostels, to other high-quality spaces, such as dedicated PBSA spaces.

“The key to success in short-term rentals is consistency in revenue and occupancy, which can be attained through an effective strategy and implementation. Staykeepers work closely with our partners to identify these trends and maximise the busy periods, but also to identify quiet periods and how to market empty apartments effectively.”

Ivo Gospodinov, Co-Founder and Director, Staykeepers

Factors driving interest from holidaymakers for their short breaks is the quality of PBSA blocks, as well as their locations in the centres of towns and cities.

Private rooms (ensuites) are the most popular accommodation choices among Staykeepers’ clients, with 69.8% listing private rooms for flexible stays, compared to 26.9% opting for a studio and 3.3% offering a shared bedroom.

“We are always fascinated when our latest set of data comes through to see the trends that are beginning to appear. What is clear is that short stay holidaymakers are valuing and trusting alternative accommodation. The majority of new city centre student accommodation buildings are now on par with or greater quality than a large multi-room hotel, and with less overheads the rooms can be cheaper, which is an attractive prospect in the current climate.”

Ivo Gospodinov, Co-Founder and Director, Staykeepers