Millennials, those currently aged between 26 and 41 years old, recently surpassed baby boomers as the largest living generation. They make up almost a third of the world’s population and are planning more trips this year than any other age group.
Raised during the rise of tech, they learned to adapt quickly to changes, so expect efficiency and innovation in every part of their lives. How can short-term rentals meet these needs? 46% admit they’re more likely to choose brands based on the tech they offer. But, what is it about smart home technology that attracts Millennials?
4 reasons why Millennials prefer smart short-term rentals
Previously a short-term rental luxury, smart advanced accommodation is now an amenity many guests look for, especially those from younger generations who have only ever known a hyper-connected world.
1. Contactless tech – Millennials want convenience. They don’t want to arrange a check-in time to pick up rental keys. They want the flexibility to ‘get there when they get there’ and live spontaneously.
Installing smart locks in your properties enables guests to come and go as they please with a direct check-in system, removing the risk of losing physical keys or being locked out, and automating a task that would otherwise take up your time.
Wellness is a leading travel trend for this year, and many now expect automated services for guest communications and check-ins to minimize face-to-face interactions. Plus Millennials interact with this technology in their everyday lives, for example, to access a gym 24 hours a day, and don’t want to wait at a reception desk to complete a task their phone could do for them.
2. Staying connected – Millennials are one of the two generations most likely to mix business with leisure. According to TripActions, over a third of Millennials and Gen Z would pass on job offers that don’t include travel. The second annual State of Business Travel Survey found 90% of Millennials have taken a bleisure trip in the last year alone. They want more than your average 9-5!
These digital nomads are taking advantage of the new flexible way of living and working and are trip stacking, jumping from location to location, seeking new experiences alongside their workday. But, to live flexibly, they rely on technology and high-speed internet to keep them connected wherever they are in the world. So, they’ll be looking for free, reliable internet access that allows them to work around their vacation.
They use their phones for everything and will feel more connected to your short-term rental if they’re able to receive notifications of monitoring systems, such as temperature or security, and adjust the home to their preferences from their smart device.
3. Sustainability – Eco awareness is on the rise, and Millennials are the driving force behind the movement. They prioritize purpose over personal gains and are more willing than other generations to pay for these sustainable options (42%). Almost a third of Millenials would even pay double!
They’re savvy though and won’t be fooled by greenwashing. They’re looking for brands that have eco values at their core. So, to tap into this trend make efficiency a priority by reducing time, costs, and materials with smart home automation.
Smart thermostats and HVAC systems, for example, automatically monitor room temperature and adjust accordingly, decreasing energy usage and costs by up to 16% in winter and 23% in summer. Going keyless is another tech-advanced way to lower costs and improve the efficiency of your rental.
4. Convenient living – Millennials want convenience without having to compromise on quality. So, simplify their guest experience with property automation solutions that allow them to manage their entire stay from their phone.
Guests can pre-set the heating or cooling of their room before arrival and have keyless direct entry to the property, with these technologies. Since 47% of US-based Millennials have at least one smart home product in their own homes, it’s likely they have come to love the convenience and comfort it offers. So make your guests feel more at home with short-term rentals that offer the same solutions.
Technology plays a huge role in Millennials’ lives. So much so they’re accustomed to the convenience and efficiency offered by these solutions and expect nothing less in everything they do. Attract this generation to your properties with contactless and communication tech that simplifies and streamlines their experience, and turn trends into profits.
To find out more about the smart home technology PointCentral offers for short-term rentals, click here, or if you’re ready to build your tech stack you can demo our solutions here.