Guests of the future: a study on younger generationsDecember 24, 2019・2 min read
Newer generations introduce us to new ways of thinking. In fact, not only do younger people book differently, their staying preferences are substantially different from their older counterparts.
Unlike older generations, Gen Z values new experiences to such an extent that owning a house or a car are no longer a priority. In fact, statistics show people from this generation are much more likely to step out of their comfort zone and seek thrilling new adventures.
According to a Booking.com survey, 69% of respondents admit to having their own bucket list of places to visit before dying, 32% of which plan on visiting 5 of those places in the next 10 years.
The importance of last-minute reservations
Most Gen Z dislike planning their trips in advance. In fact, most prefer making reservations at the very last minute.
Around 20% of them admit doing things rashly, while keeping their options open. Which explains their preference for free cancellation rates.
One of the most effective ways to receive last-minute reservation is by optimizing your listings. Keeping your prices and availability continuously updated, including special offers and being less restrictive with your rates are all good strategies to ensure your occupancy rate remains high.
Activities and interests
Because Gen Z places a lot of emphasis on experiencing the world, they aren't as demanding when it comes to the actual stay.
Amenities such as coffee machines, mini fridges or LED screens, which used to be a great advantage are now a given for most people. This generation is a lot more concerned with what’s going on around your rental, be it museums, restaurants or other things to do.
The most popular outdoor activities are bungee jumping and paragliding, according to 56% of respondents. One should definitely consider creating a custom city guide for these types of guests.
New trends and technology
With their natural affinity for technology Gen Z have quite specific demands, and short-term rental professionals should try keeping up with new trends.
Around 88% report using social media while on vacation, while 72% actively share content with friends. This photo sharing frenzy can be extremely beneficial to your rental in terms of advertisement, especially since 45% of respondents highly trust influencer recommendations.
It might be a good idea to invest in a flashy interior design that will make them want to snap a couple of shots of your rental. Don’t forget to provide them with a fast and stable Internet connection. Also note that many countries have different power plugs, so make sure your guests have access to a plug adapter.
While Gen Z might have very specific interests, you can still provide them an amazing experience if you meet their needs. By understanding new generations, you become ready to handle their expectations and subsequently get better reviews.