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Consolidation in holiday rentals

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A room with a view: Coldwell Banker Bermuda Vacation Rentals said acquiring BermudaRentals.com means they now offer a broader range of properties

Short-term and holiday rental provider Coldwell Banker Bermuda Vacation Rentals has acquired local competitor BermudaRentals.com.

It brings its number of listings up to about 60, and the company believes there is room for expansion.

The only other listed company for Bermuda vacation rentals on the Bermuda Tourism Authority website is airbnb.

The numbers of Bermuda holiday rentals fell pre-pandemic, surged later and slowed again more recently when the Government imposed a new fee on the owners.

Coldwell Banker Bermuda Vacation Rentals said their purchase was a strategic acquisition that significantly increased its portfolio, offering an even broader range of properties to meet diverse traveller needs.

Billing itself as Bermuda’s No 1 holiday home provider for more than 25 years, the company said scale is even more important in the existing market, with fewer active hotel beds.

Nikki Thomas, Team Leader at Coldwell Banker Bermuda Vacation Rentals (Photograph supplied)

Nikki Thomas, the team leader of the holiday rental unit of Coldwell Banker Bermuda, told The Royal Gazette: “In terms of vacation travellers, Bermuda hotel room inventory is down with major hotel closures and we are really pressed when there are special events in Bermuda.

“There is such an increase in enquiries, we are always looking to sign new listings for vacation rentals, and even short-term rentals up to six months.

“We get vacation rental requests from travellers for everything from luxury units to smaller units.”

In a marketwide message to travellers, she discussed the consolidation of the two local vacation rental brands: “This acquisition greatly expands our active listing database, providing even more options for your stay on our beautiful island.”

She said the additional units will assist in company efforts to satisfy demand.

The expanded inventory now includes “luxurious beachfront homes, charming cottages in picturesque neighbourhoods, and various other accommodations suitable for corporate travellers, families, and individuals seeking unique vacation experiences”.

Lynne Burns, Coldwell Banker Bermuda Vacation Specialist (Photograph supplied)

Lynne Burns, a member of the vacation specialist team, said: “Bermuda is renowned for its stunning beaches, rich history, and warm hospitality. With our expanded inventory of vacation rentals, we aim to enhance your experience and ensure that your time in Bermuda is nothing short of extraordinary.”

Coldwell Banker Bermuda Vacation Rentals said it also invites homeowners to consider listing their properties for holiday and short-term rentals.

Karen Brine, Coldwell Banker Bermuda Vacation Specialist (Photograph supplied)

“Homeowners may have empty apartments, pool houses or vacant properties without long-term tenants,” said fellow team specialist Karen Brine: “If you're considering short-term vacation rentals, we encourage you to contact us to be added to our inventory.

“By partnering with Coldwell Banker Bermuda, you can maximise the potential of your property while contributing to the vibrant tourism industry of our island.”

Coldwell Banker Bermuda Vacation Rentals says it has been Bermuda’s top holiday home provider for 25 years (Photograph supplied)
Coldwell Banker Bermuda Vacation Rentals says it has been Bermuda’s top holiday home provider for 25 years (Photograph supplied)

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Published June 24, 2024 at 7:59 am (Updated June 24, 2024 at 7:25 am)

Consolidation in holiday rentals

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