Everybody is currently experiencing hurdles created by Covid-19; possibly even more so for those involved in the hospitality and rental scene. However, after the initial chaotic adaptation period starts to ease out, we find ourselves entering a time where planning for the future is arguably at its most pivotal stage. Property hosts, whether large or small, will be asking themselves similar things: What is the future likely to hold? How can we prepare? How can we adapt longer term? This blog post aims to simply provide some food for thought to help start tackling these potentially daunting questions.

What does the future hold?

In a recent Service Apartment News operator survey a key take-away point was that “estimates of how long it will take for levels of business to return to pre-pandemic levels vary from a month to more than 18 months”. This agrees with what most experts are saying with regards to attempting to predict dates in which normality will resume, it is simply still too early to say. An interesting topic of debate has been the contrasting impacts on leisure and business travel post-lockdown. Many expect business travel to rebound first however others are predicting a sudden surge in short term leisure tourism. Either way, economist Roger Bootle of Capital Economics views the medium-term prospects for the hospitality industry as being "extremely good" making the next two paragraphs of this blog of even more importance!

How can Airbnb hosts prepare?

Experiencing a time of zero, or close to zero, occupancy creates numerous opportunities for Airbnb hosts that would have otherwise not been possible. Property improvements can go a long way in both pricing and positive reviews, whether it’s a fresh paint job or re-organising the layout – using this time to improve a listing’s value is certainly time well spent! Similarly, using the downtime to think of operational improvements, trying new products, marketing ideas & long term profit plans are all great ways to improve an Airbnb for when bookings inevitably start coming back in.

How can Airbnbs adapt?

Changing circumstances will always create new avenues for growth and the Covid-19 epidemic will be no different. Brilliant and brave healthcare workers on the front lines need temporary accommodation to isolate in away from their family and friends. Adapting to this demand includes putting an increased emphasis on criteria such as cleanliness and affordability. Many also view a post-pandemic shift towards long-term stays and so preparation to accommodate for such tenants could prove to be a valuable use of time. Overall, despite the overwhelmingly negative effect Covid-19 is currently having on Airbnb hosts the message from experts and industry workers is clear: although the timescale is still unknown, the drop in bookings will certainly only be temporary one!

How to adapt your Airbnb during Covid-19