New Normal
In times of crisis people often long to return to “normal.”
Across the travel and hospitality industry, we all expect that travel will resume – for business and for personal reasons. Everyone is asking – what will that look like?
What will normal travel and hospitality look like in not normal times?
Hosting well often comes down to your ability to adapt well. Anticipating the needs of future guests will help you adapt your business model to protect income generation and cover basic bills while you implement new hosting strategies.
Your short list of ideas and changes might include:
Transition
Switch from shorter, overnight bookings to longer-term tenants. Yes, the “rapid turnover high nightly price” model has the potential to make you more money – in normal times - but in the current climate the stability of a longer-term tenant who pays on time could be your saving grace.
Create
Set up a work friendly space. Many hosts and companies – including Airbnb – are betting that remote work is here to stay. Brian Chesky, CEO of Airbnb says:
“This is a giant experiment where people are realizing they can work remote. We think that’s a huge opportunity.”
Clean
Buy some good rubber gloves and scrub like you have never scrubbed before! The new normal is no longer “sparkling clean.” Clean has evolved into a wiped-down-disinfected-sanitized-deep clean expectation. Good hosts are already meeting this standard - and you have the reviews to prove it - but you may need to do more to promote and advertise your cleaning routine. Be proactive: list the products you use, update your photos to show sanitizer, update the language on your listing. Familiarity in this issue will breed assurance.
Manage
Handle your own details and clean your own space. Airbnb targeted “support companies” are taking a hit and some European/UK based companies are out of business all together. It’s not worth the extra 12% to 15% to have someone else do the basics. Most of the digital platforms have already set you up to manage everything you need – communications, booking calendar, cleaning schedule. If you really do need help, a good local co-host, who is flexible and can provide support at less cost, may be a good option.
Develop
Virtual “in person activities” or live experiences may be a good option. Even though the area of “experiences” offered via Airbnb has not been a huge money-maker for the company, it might be personally profitable for you. Chesky, for one, believes that people will be looking for new forms of entertainment in a post corona world – something other than going to a packed bar or movie house.
Examine
Know your own mindset. In post corona hosting, your business model might need to change. But often, the most important thing to examine is your overall mindset about hosting and Airbnb itself. Does that need to change? What do you actually believe about hosting?
Build Wisely and Host Well
In a recent conversation about how to get back to normal after corona virus – after self isolation, social distancing and sanitized surfaces - a good friend asked a great question:
“What do I NOT want to return to?”
For some hosts, you may not want to return to using Airbnb as your platform. Some may decide not to host strangers in their home – it may not be worth the health risk. Others - property owners who overextended to invest in the short-term rental market - may not want to return to the stress of multiple mortgages and bills they can’t pay.
There is always risk in business, and there will always be a certain level of stress as you build a business, but there is a way to build wisely and build with peace of mind.
We encourage you to take this time to think about strategies, updates and actions you can take to continue hosting well in the “new normal.”