Property owners in UAE cashed in during the Doha World Cup by upping their game
With the FIFA World Cup in its final stretch, one of the biggest challenges faced by Qatar has had to do with providing enough accommodation to cope with 1.5 million fans flying in to watch the teams compete.
FIFA booked 80 per cent of the available rooms, leaving little to no room for ticket-holders. With only an estimated 31,000 hotel rooms available to visitors, football fans have been looking elsewhere for places to stay – with some turning to tents, portacabins and even cruise ships. The majority, however, realised the benefit of looking beyond Qatar’s borders. Although Qatar won the bid for the tournament, the UAE has proven to be one of the biggest beneficiaries of the event. Qatar Airways and flydubai more than tripled the number of daily flights between Dubai and Qatar, operating some 54 flights a day.
As visitors commute between the UAE and Qatar, staying in hotels has become expensive. What they require is the flexibility which only short-term rental properties can provide. Moreover, fans who have tickets to multiple matches are likely to stay in the UAE for a few weeks and, therefore, searching for the comforts of a home. Their stay will be much more pleasant and affordable with home-style amenities such as washing machines and self-catering kitchens.
Many are also travelling in groups with friends or family. Staying in multiple hotel rooms can be an impersonal experience while costing a fortune. In contrast, holiday homes are able to provide bigger spaces that can accommodate more people at a much lower price.
Maximizing benefits for holiday homeowners The surge of tourists flooding the holiday home market is the perfect opportunity for homeowners to profit from their investments. So, how can they?
To take full advantage of such an opportunity, it is essential to start preparing in advance to avoid any chances of mismanagement. Some factors to include in the preparations are verifying all your paperwork complies with the newest rules, inspecting your property to ensure the best conditions, and having your property advertised on the right platforms for visibility.
Due to the nature of the demand, the opportunity to generate a relatively large number of positive reviews in a very short timeframe. However, this will only be possible if guests are satisfied with their stay. Therefore, it is pivotal to think about how this can be achieved.
The answer will vary for each individual property, whether that’s upgrading dated furniture, improving guest communication services or incorporating personal elements to encourage positive reviews.
If currently operating in the long-term rental, this is a good time to switch to short-term. This opportunity will open doors to future demand as well. With Dubai set to welcome millions of visitors over the next few years through hosting a range of events and thenew visa policies, now is the time to launch your property into short-term rental.
It is crucial to brace yourselves for a quick and high guest turnover rate. The constant movement within your property can be overwhelming and making it difficult to efficiently manage operations.
Property management agencies can take care of the day-to-day activities for holiday homeowners while also generating extra income.
The writer is Managing Director – GCC at GuestReady.
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