The rapid evolution of the tourism industry has revealed newer travel trends. Travellers are more likely to seek out inclusive experiences that provide unique experiences and home-like comfort, away from the chaos and crowds of city life, and immerse themselves in nature and open spaces in the countryside.
They are also showing a growing preference for brands that enhance the authenticity and meaning of travel. This has unraveled a trove of opportunities for property management operators like StayVista. Ankita Sheth, Co-Founder of StayVista believes that it has helped create exclusive properties that have an independent personality, and strong local roots, while meeting with evolved guest expectations
She pointed out that the benefit of these luxury villas and properties is that they appeal to a wide range of travelers from many walks of life. StayVista has designed and suggested homes based on the needs and individuality of its consumers. These properties are all located in areas where local culture predominates, exposing guests to a unique experience of absorbing local cuisine, décor and way of life. With the specter of COVID re-emerging, Sheth is confident that people will continue to seek secluded experiences, while immersing themselves in the opportunity of living each and every moment, and celebrating life.
How has the demand for vacation rental spaces grown over the past three years?
The demand for luxury vacation rentals has never been stronger. Travellers after 2020 are particularly interested in villa rentals that benefit from proximity, i.e., may be accessed in a few hours. The demand for a WFH lifestyle has increased dramatically. Guests have started discovering the delight of inclusive travel and the comfort of a second home while keeping social distance.
How is StayVista tapping the growing segment of the leisure-inspired urban market?
The growing spending power of the Indian middle class is fuelling their desire to take more vacations, which provides them with the utmost comfort, a private luxurious homelike feel. From 2021 to 2027, the leisure market is expected to grow at a CAGR of 22.6 percent, reaching $1,737.3 billion. Domestic leisure destinations were formerly identified with primarily high-weekend demand, but this appears to be changing, with meetings and conferences, weddings and social functions, corporate off-sites, and group travel all contributing to weekday rental bookings.
With the shrinking gap between peak and non-peak season occupancies across various regions, the old cliché that ‘summer and monsoon months are not ideal for travel’ is being challenged. It’s no longer simply about getting a cheap hotel; it’s about being selective about what you would like to do during your leisure hours.
How has your company designed a distinctive personality based on the property’s location, or history as a compelling storytelling experience for guests?
People desire meaningful connections with companies during a time when they are weary of being chastised and marketed to. Enter Stay Vista, which offers a unique curation of properties across popular and offbeat holiday destinations. Heritage homes, properties rich in culture, modern contemporary villas, authentic yet extravagant estates, and properties stretching across acres are all offered to guests who seek a chance to get away from the shackles of everyday monotony.
Each property is tastefully acquired and has a unique narrative to tell its visitors. The architecture, ambiance, thoughtfully designed amenities, the owner’s personal touch and even the individually tailored food and beverage services, all work together to make the house a part of a compelling narrative for guests to experience.
How can independent and boutique hotels build a connection with the destination in their design, architecture, style and food and beverage offerings to allow guests to truly immerse themselves in the surroundings, and local cuisine and traditions, with a focus on local, organic, and sustainable products and flavors?
A lot is determined by the property’s location and conceptual thought. What do you want a guest to feel when they enter the property? The initial thought stems from this very question, and the rest follows. Inspiration is key when it comes to building unique connections with a destination. The structure, amenities, decor, food and experiences are all designed to create a conducive environment that resonates with the local surroundings and location of the property.
How has StayVista adopted a differentiation strategy to provide superior-quality tourism, enhancing discovery, and authenticity in destinations, while also combating competition from bigger chain hotels?
Only 1 in 10 villas that we scout are carefully selected and added to our portfolio, to ensure that they meet our reliable quality standards. Moreover, we don’t just offer a place to stay, we present opportunities and experiences. Apart from a comfortable stay, travellers absorb into the destination they are in.
What is StayVista’s current footprint and its expansion plans in the next couple of years? How will raise capital to meet these growth plans?
Last year, we expanded to Dubai with ten magnificent villas, bringing our total number of properties in India to over 500. This year, we’ll concentrate on strengthening our services and adding more properties to our India portfolio.
