Any town or city is fine to do Serviced Accommodation in, all you have to do is find a good spot in that town or city. First and foremost, do Serviced Accommodation in a city or town as near to where you live as possible. Because during the early stages of a Serviced Accommodation business, you will be heavily involved in the set-up of the property, meeting with cleaners and maintenance staff, and getting the necessary approvals for the business. Choosing a location that is too far away will end up in lots of travelling.
A Serviced Accommodation property business is becoming a more and more popular property investment strategy these days. People choose to live in Serviced Accommodation for three main reasons: to save money vs a hotel, to have extra facilities such as a washing machine and to enjoy more privacy. So make sure to offer these services at your Serviced Accommodation.
Preferred Locations For Serviced Accommodation Property Investments
If you go on to Booking.com to look for somewhere to stay in a city or town and there isn’t a hotel in that area, it doesn’t mean that there isn’t a demand for a short-stay place. It might simply mean a hotel hasn’t been built there yet! And it turns out that there is an investment opportunity for Serviced Accommodation there.
Factors To Consider
The list of factors below isn’t an exhaustive one as there are tons of reasons why a person will go and stay in a different city or town for a while. You need to exercise your powers of judgment and concentrate on a specific thing in the area under consideration that might create demand. You also need to watch out for a year-round demand to maintain profitability.
1. Near Bus or Train Station
People travelling from nearby locations to your town or city might be using a train or bus. If a Serviced Accommodation is near a bus or train station it will attract visitors as it makes travel quick and easily accessible – Less time travelling and more time enjoying yourself. In places like metropolitan cities, the main bus or train station tends to be in the city centre. This means visitors can get almost everything they might need during their stay.
2. Near Building or Construction Sites
Many of the builders and contractors working on-site might not live locally. They will require short-term accommodation in guest houses, hotels, and Serviced Accommodation. Construction sites offer a year-round demand and if you cater to the unique needs of contractors and builders, it can result in a profitable business. Give due consideration to parking facilities as builders usually use their high-end vehicles to commute and they will definitely look for a place with secure parking.
3. Near Sporting Venues
Sporting Venues are attractive places that people will visit, in addition to artists and bands. Serviced Accommodation near a sporting venue is a good choice for a cost-effective, long-term stay for visitors to the club.
4. Near Golf Clubs
Golf enthusiasts take at least week-long golfing trips or breaks. It can present a good business opportunity for Serviced Accommodations nearby a golf club. When a championship course hosts a tournament, expect to earn serious money but keep in mind golf is a seasonal sport and finalising the location of Serviced Accommodation entirely based on the golf club isn’t necessarily a wise idea.
5. Near Conference Centres
Larger and busier conference centres are extremely likely to have hotels located nearby. You can capitalize on this opportunity by doing a high-end Serviced Accommodation as a cost-effective alternative for the people visiting the town for a conference.
6. Near Tourist Attractions
Tourist attractions are an obvious reason to attract visitors from not just the nearby cities but around the globe in some cases. A well-maintained Serviced Accommodation can surely serve as the top choice of travellers.
Final Thoughts
Each place has its own unique reasons for attracting visitors for short stays. Do your research and make a list of the several Serviced Accommodation demand points in each location and go for the one with the most!
