How we discovered our goldmine location, Now you can too.

How Huku Kwetu serviced accommodation project was unveiled. There are vital elements that should be looked at, when you’re selecting the perfect serviced accommodation (SA) property and the location of operation.

Therefore, it’s imperative to be aware of the supply and demand curve in your operating area. What generates the demand in your location choice and why. Where are travellers coming from? How long are the standard stay? You also need to know the spending power in terms of accommodation per night.

Consequently, this should determine what you should be ticking on your checklist to make sure you’re hitting a goldmine when reading this. 

Key elements to look for in your SA:

        1: Serviced Accommodation | Get to know your Operating location:

• Are there any building sites, industries, town centres, train stations, theme parks, transport links, universities, sports venues or airports near your area? Places that people who come to work around there could help with their expected experience. Local Food. Transport Network. Entertainment. Convenience Stores.
• Longer stays are better – Fewer Voids. Mainly from builders and constructors on mid-term or long-term. This kind of stays can range from 3 months to 2 years. Yes, you read it fine.
• It saves energy, money, and time to do tasks (e.g. prepping, cleaning, etc.) Also provides a level of security on payment to you with a long-term guest.
• Hotel futures report – this tells you if there is enough demand for short-term, mid-term or long-term stays in the area.

• 2: Serviced Accommodation | Who are you targeting as your primary customer?
  

• Who are you looking for as a guest? White-collar workers (Office managers, business executives)? Blue-collar workers ( Builders, Painters, Electrician)? Holidaymakers? It is essential to know who you are trying to attract as a customer, so you can tailor your marketing to them.
• Tradesmen are less seasonal. They work all year round, so they are an excellent customer to target for long term stays. 

  3:  Serviced Accommodation | What type of properties will be in your business portfolio? 

• Are there residential Victorian terrace houses, middle or end of terraces with back natural maintained gardens. Or are apartments in a block? Once you choose what sort of property you want to add to your portfolio, it will become easier to see what customer you need to attract.
• You can have high-end SA properties depending on the demand. Houses can be useful if you are in an area where contractors and builder travellers are located. Apartments are ideal for senior managers, holidaymakers and party-goers. 

  4: Serviced Accommodation | Look at your competitors. 

• Go to popular OTA’s like booking.com, Airbnb or creative SA managing agent like Huku Kwetu corporate housing or others. You’ll see where the SAs and hotels in your area and how they are marketing their properties.
• Booking.com is much better as a booking agent.
• Try to model yours with SAs that scores higher than 8.5.
• Assess demand for SA through the Chamber of Commerce. It will tell you about any big businesses and projects that are coming in your area.
• Understand your cost. Due diligence is all about getting to understand the question as to whether it is going to work before you spend all your hard-earned cash.  Do your homework, get quotations from accountants, insurance, furniture, cleaners, utilities, etc.

    Best Moments – The Market is turning to the best

• “We are noticing year on year a massive shift in behaviour… tradesmen and other blue-collar workers, i.e. Contractors and builders, are looking for serviced accommodation first now before they look into staying in hotels, guesthouses and B&Bs.”
• “Remember: You only want to be modelling yourself on the listings that are getting good reviews.”
• Best reviews are the bloodline of your business, focus on delivering top-notch experience and win many return clients week after week.

VALUABLE RESOURCES

• British Chamber of Commerce -The British Chambers of Commerce (BCC) is a dynamic and independent business network with Accredited Chambers in every nation and region of the UK.
• Huku Kwetu corporate housing – You can now easily LIST your serviced accommodation with Huku Kwetu if you want to get more blue-collar workers (Contractors, Builders and Tradesmen).  Perfect for long term stays, can book months on end.
  Insider | Asante Sana