How a Hot Tub Makes You More Airbnb Revenue
The holiday let market continues to grow, with an increasing number of people preferring to stay at short-term rental properties in the UK rather than regularly fork out on expensive holidays abroad. These short stays are primarily booked through services such as Airbnb – if you’re reading this, you might already host guests and are wondering how exactly installing a hot tub in your home can significantly increase your revenue.
While the demand for this type of holiday increases, many homeowners are catching wind of the potentially lucrative rewards of making a home available for short-term stays.
As a result, the market is becoming more competitive and hosts are having to find ways to stand out from the competition and keep their homes consistently occupied with paying guests.
One of the best ways of doing this is by installing a hot tub. Read on to discover 5 key ways having a hot tub can increase your holiday let revenue.
5 Ways Hot Tub Makes You More Airbnb & Holiday Let Revenue
1. Increase Your Nightly Revenue
Not enough people in the UK own a hot tub, and to tell you the truth, many that do have got themselves a very affordable (and dare we say, cheap) inflatable hot tub.
‘Real’ hot tubs are commonly associated with luxury. While more people are discovering their extensive health and wellness benefits, they are still seen as being an amenity that makes a holiday extra special.
A couple of years ago, Airbnb did a study that showed that hosts with a hot tub at their property could increase their nightly price by £35.
Since that study, Airbnb demand has increased dramatically, with the average price of one in the UK rising over 29% from £95 to £123 between 2020 and 2021.
With this kind of nightly revenue, it’s no wonder more homeowners are getting involved!
Fortunately for existing hosts, the growing supply of Airbnb homes can not keep up with the growing consumer demand for Airbnb accommodation.
For now, at least, we should see prices continue to rise.
But the real opportunities for hosts that have a hot tub to greatly increase their Airbnb revenue are still to come…
According to the Office for National Statistics, in the UK, people between 35 and 64 have a higher disposable income than those aged between 25 and 34.
As people older than the current most common Airbnb user demographic of 25-34 years old continue to discover this new way of booking holiday accommodation, we can expect the demand for higher-end Airbnb stays to increase rapidly.
Having a hot tub at your home immediately puts your listing into this higher-end bracket because it is still an uncommon luxury associated with hotels and spas.
According to economic theory, as demand from over 35s with higher disposable income increases, the prices of high-end short-stay rental properties will probably increase.
All of a sudden, that £35 nightly revenue difference between homes with and without a hot tub is likely to rise as the supply of these types of homes cannot keep up – even with the increased demand!
That’s why you want to get your home ready for the upcoming age 35+ Airbnb boom!
2. Increased Occupancy with a Hot Tub
If you get your pricing right, having a hot tub in your Airbnb is a surefire way to improve your occupancy rate.
Featuring a hot tub in your listing opens your home up to a market segment that is looking for luxury extras and gives you a competitive advantage over listings that don’t.
This also allows you to attract more people looking to celebrate special occasions with a staycation.
Events like Valentine’s Day, birthdays, and anniversaries cause people to look for something extra special from their stay.
Having an industry-leading hot tub at your property will make your home much more desirable to people willing to spend that bit of extra cash to make their stay memorable with a hot tub in Exeter.
Increased occupancy rates, combined with high nightly revenue and increasing demand in over 35-year-olds only means one thing – significant yearly revenue growth!
3. Longer Stay Duration
Hot tubs usually attract groups that are staying for a longer period of time.
According to Airbnb, “guests who stay in homes with Airbnb amenities such as a hot tub or pool typically book for longer durations than those without.”
Longer stays are generally preferred by Airbnb hosts due to the reduced admin required. When people stay for one or two nights, every couple of days the host is required to clean the house and communicate with current and future guests – this quickly becomes a full-time job if you are only hosting 1-night stays!
When people stay longer, there are fewer groups to communicate with, and the regularity that you have to attend and clean the property, ready for the next guests, is greatly reduced.
So now we have:
- An increased nightly revenue
- Longer stay durations that require less ‘admin’
4. Better Reviews Scores and Visibility
Word of mouth is king. And in today’s society, online reviews make or break businesses.
High review quantity and review score leads to more visibility, and, consequentially, more customers.
The same goes for your Airbnb business!
When looking for an Airbnb as a consumer, there is a lot of choice. To save time trawling through every listing, most people use filters to narrow down their search.
The main filters that are used are ‘Price’ and ‘Star Rating’.
When you have a statement feature, such as a hot tub, in your Airbnb home, it becomes the heart of your listing. After all, it will be a big reason why people have booked with you, and not with the cheaper host down the road.
Fortunately, a good hot tub is generally easy to look after.
Our spas for lodges and rental properties are designed to be extremely durable and user-friendly. This means that your guests are unlikely to have any problems using the hot tub that might affect the satisfaction they get from their stay.
On the shell exterior, there is a simple control panel suitable for inexperienced users, with the main control panel that accesses advanced features safely hidden away in the cabinet.
The stripped-down control panel is exposed for guests to use and negates the risk of user error causing things to go wrong.
They are (near enough) foolproof, giving you peace of mind that while you are hosting guests they are not going to accidentally drain the spa!
If the hot tub experience you offer is great and nothing goes wrong, people are likely to have fond memories of their stay at your Airbnb or rental property. You can expect this to be reflected in your written reviews and star rating.
When your key selling points (including your hot tub) deliver on the expectation, you are on your way to a strong review score.
A good review score leads to more eyes on your listing through the filters feature, getting you more bookings at whatever price you set!
Once you have plenty of great reviews and find yourself fully booked, why not raise your nightly price when you have the reviews to back it up?
5. Easy Maintenance
When you buy a hot tub in Devon for your rental property, you may be concerned about the maintenance involved.
Of course, it is important to maintain your chemical balance to ensure a safe stay for your guests, but there are now ways to monitor the condition of your spa remotely.
For example, the WIS Smart Spa Partner is a device that monitors the condition of the water and alerts you on its app when your spa needs attention.
When this is combined with slow-release chemical feeders, and our iCommand remote control system that lets you change your hot tub settings from wherever you are, you are likely to not have to tend to your property more frequently than you normally would when you are cleaning it in preparation for your next guests. You will be able to tell from afar that your hot tub is in safe and working order.
At Hydropool Devon we are always on hand 7 days a week to offer honest and open advice about how you can get the most out of your holiday-let hot tub and significantly increase your revenue without doing the same to your stress levels!