The pandemic has been very harmful to the hospitality industry. But if the vaccine is effective, there is no reason that people can't return to travel- at least domestically.
But will that mean a hotel resurgence?
The virus has had an economic impact; and it has also had a psychological impact- whether we realize it or not- and whether we understand to what degree.
A return to travel, on airplanes and on trains, means people packed together. If one wants to travel far, there is no choice about that. But we do have a choice about where and how we stay once we arrive at our destination.
Hotels require sharing elevators, lobbies, hallways, restaurants, and public spaces. And we don't know what the rules will be- those set by law- or those set by individual companies. And we don't know how comfortable we will feel with any of this.
Renting of private residences for vacation uses was already a fast-growing trend, pre-pandemic. And it will be an ever bigger business once the pandemic ends and vacationers not only want a less expensive alternative to a nice hotel and total privacy, but also space and distance from crowds of people- especially in a place like a hotel (or a gym) where people's guards are down and their behaviors are more fancy-free.
This means that investments in houses to use as vacation properties will continue to be a good business. An investor still needs to pick the right property at the right price and know his or her rental market well. Also, vacationers will want higher and greater levels of services, so as to be able to truly substitute a short-term rental for a hotel.
Nightlight Vacations offers great customer service and extra concierge services when desired. Call us to see how we can manage your vacation property in the best possible manner. https://www.nightlight-vacations.com/