On this week's episode of Taking Care of Business, Recruitment Director; Kameron Hutchinson is joined by our Head of Holiday Homes; Sheena Arila. They talk about all-things holiday homes, what are Dubai’s top performing areas, how you can get 30% ROI on your property and what’s brewing between Allsopp & Allsopp and Marriott Homes and Villas.
Kameron asked Sheena how she came to work for Allsopp & Allsopp?
Sheena explained that she initially applied for the letting team or sales team position but after one meeting with Joe Lennon in recruitment, who believed she would be a great fit for Holiday Homes, she ended up as an Operations Manager for the Holiday Homes division.
Kameron then asked Sheena, what does the Holiday Homes division focus on?
Sheena shares that the Holiday Homes division of Allsopp & Allsopp focuses on short-term rentals, not just on platforms like Airbnb but also on online travel agencies like booking.com and Vrbo. Sheena highlighted that the division also targets the local platform, offering additional options for renters in Dubai who prefer short-term rentals rather than long-term commitments.
Kameron asks Sheena; what are the main differences between short-term rentals and annuals?
Sheena pointed out that the higher return on investment (ROI) is a significant advantage for short-term rentals. She explained that short-term rentals can yield 20% to 30% ROI compared to annual rentals. Additionally, the flexibility of renting for short periods and the ability of property owners to sell their property without a long notice period make short-term rentals an attractive option.
Has Holiday Homes seen a growth in revenue?
Sheena shared her experience since joining Allsopp & Allsopp, mentioning the tremendous growth in revenue and occupancy rate, which currently stands at 85%. She attributed the high demand to areas like Dubai Hills, JLT, and Dubai Creek Harbor, which are known for their attractive communities, amenities, and proximity to popular destinations in Dubai.
Kameron and Sheena discussed the benefits of short-term rentals
Sheena shares that for travellers and businessmen and women, short-term rentals emphasise the self-catering and homey aspect that they are looking for. They also discussed how the holiday homes division has seen an increase in investors purchasing properties for short-term rentals, especially in areas with landmark or water views, which tend to yield higher returns.
What’s happening between Allsopp & Allsopp and Marriott Group?
They then touch upon the partnership between Allsopp & Allsopp and Marriott Homes and Villas, where Marriott Bonvoy members can avail a 10% discount on their bookings for any Marriott property worldwide.
Towards the end of the podcast, Kameron asked about the marketing techniques used to boost holiday homes' popularity. Sheena mentioned the use of in-house photographers and videographers to showcase properties' features, emphasising lifestyle aspects that attract renters looking for a memorable experience.
Want to know more about Holiday Homes? Tune in to watch Taking Care of Business, every Friday.