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For this AirBnB Nomads Toolbox episode, Alex answers the two questions that every SA host is asking, right now – Is the serviced accommodation market in the UK saturated? Can you still make money in a highly competitive market?

Alex goes way beyond answering those questions. He demonstrates that many of the big training companies are teaching outdated strategies. Then, explains what you need to be doing instead to continue to make money with serviced accommodation, regardless of market conditions.

KEY TAKEAWAYS

• The fact that the serviced accommodation market in the UK is now incredibly competitive and regulation changes mean that what worked a few years ago is no longer effective.
• Regularly refresh your knowledge by following those who are still making SA work and taking their courses.
• Independent marketing and being able to take direct bookings makes a huge difference to profitability.
• If the 3rd party platforms you rely on change their algorithm, overnight, your bookings disappear.
• Creating a strong brand is essential if you want to be the company people think of when they want a place to stay.
• Every property is different. What works in London won’t necessarily work for a place in a small village. So, property courses that teach one-size-fits-all strategies are not effective.
• Many of the strategies taught by most of the big training companies are now woefully out of date.
• Monitor the market look for trends and adapt to changing customer needs.
• Leverage reviews.

BEST MOMENTS

“If you don't know advanced marketing techniques, of which there is plenty you will not survive in the service accommodation market.”

"Market saturation doesn't necessarily mean failure. It simply means that we've got to be smarter, more strategic and more focused."

“There is no off-season when you are doing things right.”

HOST BIOS

Alex & Pooh have built a portfolio of over 16 Serviced Accommodation Units and 10 Buy-To-Lets collectively over the last 5 years.

This AirBnB Business has allowed each of them to create their own tailor-made ‘lifestyle by design.’

Pooh chose to escape the corporate life as an electrical engineer instead to spend his time at home with his young and growing family, and Alex likes to spend most of his time in sunny Spain enjoying his love for road cycling or even hiking in the Tramuntana mountain ranges.