The luxury rental industry is always changing and evolving. What’s hot one minute is often old news the next. And, if you are an owner in the most lavish rental industry, vacation properties in Marbella, it’s important to stay on top of the latest trends so that you can adapt and remain relevant.
With our experience in growing a brand in Marbella over the past two years, we have certainly seen transformation! Some of the things we have seen affect the market have been huge, like government restrictions through the pandemic, and some are more subtle yet still important, like the sort of questions clients ask us.
Here are the top 6 luxury rental industry trends that we predict will be big in 2023.
1. Increased Demand for Groups and Corporates
In recent years, as the types of people who holiday together diversifies, we are seeing more and more interest from groups and relatively less from the traditional family unit of ‘2.4 kids’.
We hear from groups where all guests know each other before the trip and those where they don’t: Consider an activity holiday or retreat for example- a way to make new friends and travel as a single person without being alone. But there is also an increasing rise in groups of friends who don’t necessarily see each other often, meeting up abroad instead of in their own country, thus sharing the cost of a large villa between 4 or 5 couples. This works out to be much more economical than staying in a hotel and it is growing in popularity even more.
What’s more, the trend for corporate travel, renting a large villa for a business group will continue to grow in 2023 as it has already in 2022. In the new post- pandemic world, company get togethers are firmly back on the map!
Over the whole of 2022 to date we have seen a 27% rise in group bookings compared to 2021 and we expect this to continue to rise. As we previously mentioned in August, the summer already hinted toward this trend and as of August we were seeing a 23% rise year on year. That trend has only got stronger as the year developed! See our blog, Summer 2022 Trends versus last year.
2. Greater Focus on Sustainability
Sustainability is no longer just a trend; it’s a way of life. And, as more people adopt sustainable practices, the demand for eco-friendly products and services will continue to increase. In the luxury rental industry, this trend manifests itself in a number of ways, including an increased demand for conscious materials, energy-efficient appliances, and green buildings. At Swish we have our own sustainability promise and it’s an important part of everything we do.
We predict that desire for an environmentally friendly holiday will continue to rise in 2023.
3. Further Growth of Experiential Travel
In recent years, there has been a shift from traditional forms of travel to experiential travel. This trend is being driven by a desire for new experiences and a need to disconnect from technology and the hustle and bustle of everyday life. Experiential travel often includes activities like hiking, biking, and camping—all of which can be done in a luxury setting. In fact, we have been pleasantly surprised to see so many of our guests asking about outdoor pursuits and wholesome experiences like climbing La Concha. For 2023, we expect even more of this. Holidays are about the shared moments together.
4. Bold Bold Bold!
Working in the rentals industry we also have to monitor trends in taste and it’s not just about attending design fairs. We also listen to our customers’ feedback. Our prediction is that furniture pieces with bold lines and unique shapes are also going to be big in luxury rentals in 2023. We’re seeing a lot of geometric coffee tables, sleek sofas, and modern accent chairs and more importantly, these resonate well with guests. Having a striking feature is going to be key to make the difference between the villa and ‘just another villa.’
These pieces make a strong visual statement and can really help set the tone for your entire space. If you’re looking to make a design statement with your furniture, opt for pieces with clean lines and eye-catching details.
5. ‘Working from Villa’- The New Super Trend
Working remotely is now part of the global culture, even on holiday. This is not the first time we have mentioned this trend but rental owners need to adapt to it. It’s do or die! Clients want to be ‘always on’ when they need to be, they need a space to work from and good wifi goes without saying. Questions our guests ask are increasingly related to the practicalities like where can they print? Can they get a quiet corner with good lighting and a desk to work from? Can we help them set-up a conferencing call? Etc.
While luxury holiday villas are made for relaxing, they have to also perform for workers too.
6. A Predominance of the Middle Eastern Market for Summer 2023
In Marbella, known for its luxury villas and attractive climate, we already receive numerous visits from clients from the Middle East. We predict this trend will rise even further in 2023, especially in the summer. The Costa Del Sol has strong flight links with Saudi Arabia and Qatar, and the area has a strong pull with Middle Eastern clients, including royalty.
We hope you enjoyed this little look into 2023, and if you have a villa to rent in Marbella, get in touch with our friendly team for an informal chat about working together.
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