Are Colorado home rentals geared toward the luxury rental market? That’s a valid question, especially if you’re a property owner looking for the right niche to market your vacation rental. In the last ten years, the vacation rental business has changed dramatically. A decade ago, mom and pop operations placed ads in the classifieds section. Now, short term rentals thrive on a multi-million-dollar online industry. Why, then, should you focus on the luxury market if your rental property is in Colorado?
Higher Expectations from Vacation Renters
Because of sites like Home Away and Airbnb, vacationers are savvier when it comes to the variety of accommodations available. A hotel is no longer the only option when you’re traveling. Private homes are increasingly appealing to vacationers, especially in geographically desirable areas, such as Colorado ski resorts. These areas tend to be more expensive to visit. So vacationers have higher expectations of their trip as a whole, including their accommodations. Because of this, the market for luxury short-term rental properties is booming, and you should market your Colorado home rentals as such.
Making an Investment in the Vacation Experience
Family vacations are on the rise, which means larger groups of travelers need accommodations together. While a group of hotel rooms is an option, it’s a better family experience to stay in the same home, all together. When investing in a trip to a place like the Vail Valley, tourists are investing in the experience off the slopes as well as on them, and they want to get their money’s worth. Big families who are spending the time and money to be together for a mountain adventure want the complete experience, and that includes staying someplace luxurious with all the amenities that make a Colorado ski trip special.
There’s More Vacation Money to Spend on Your Colorado Home Rentals
The economy is doing great, and more people than ever are taking luxury vacations. For many travelers, a ski trip is an essential every winter, and for others, a ski trip to Colorado is something they’ve planned for years. Either way, there is more money spent by tourists in every type of resort, including mountain towns in and around the Vail Valley. Those visitors don’t want to stay in a cheap motel far from the slopes. They want the luxury experience that goes with the destination and provides the location and amenities they expect. They want a luxury rental to go along with their luxury vacation. And they’ve got the money to pay for it.
More than ever before, people are planning extravagant trips with their immediate families, extended families, and groups of friends. As a result, Vail and the surrounding areas are seeing more tourist dollars. If you have short-term luxury Colorado home rentals, you are in a position to take advantage of this trend. You don’t have to navigate the luxury rental market on your own, however. If you’re ready to take advantage of the Colorado luxury home rental market, contact our team at Fireside Properties to manage your Colorado home rentals today.