Green short-term rentals blossoming
Sustainable hospitality in short-term rental accommodation is expected to evolve into a thriving niche market.
Property searches show that assets which offer green features tend to secure greater occupancy and higher prices per night, compared to others in the same area.
According to an analysis by Transparent International, a strategic partner of the Association of Short-Term Rental Companies, it is beginning to become clear that sustainable hospitality, through the selection of the respective accommodations, will be one of the key trends of the future, with high demand and correspondingly high revenues.
Although, still, the accommodations in question are few internationally (and in Greece) and the number of visitors informed about it so as to proceed with the corresponding options is low, it seems that any properties boasting some certification regarding sustainable features also have a better performance.
According to Transparent’s data, it emerges that green properties already register an increased occupancy by at least two percentage points (47% versus 45%) and extra revenues of about 6 euros/night.
At first glance, the difference may seem small, but in the long run, even these numbers are capable of significantly increasing the performance of a property.
Another important advantage for owners/managers is, of course, that such properties have much lower operating costs, an element that can maximize profit. For example, automation in the lights and the air conditioner reduces the consumption of electricity and at the same time the emissions of the property, while having a significant financial benefit through the bills that the owner of the respective property will pay.
In November 2021, Booking.com was the first digital platform to launch the Travel Sustainable Badge, as a measure of the sustainable characteristics of each accommodation, so that guests can distinguish each property and make the relevant choice with greater ease.
To receive the badge, properties must incorporate a range of sustainable practices in five key areas, namely waste management, greenhouse gas emissions, water management, local community support and nature protection. If they qualify, they receive the mark and can address guests who rank the environment high on their priorities list.
