How bnbme holiday homes found its space in Dubai’s booming tourism industry

When Vinayak Mahtani rented out his apartment in Palm Jumeirah in 2016, little did he know he would be inviting in a tenant who was less than ideal. 

“The tenant left the house in a miserable condition and without paying the remaining rent. It was then my wife suggested that we should stop having long-term tenants and convert the apartment into a holiday home," says Mahtani. 

This eventually became the seed to set up bnbme holiday homes in 2018. 

Kicking off the business in the pandemic 

Undoubtedly, travel and tourism were among the hardest-hit industries during the pandemic. For bnbme holiday homes, this was an opportunity to grow further. Vinayak Mahtani, Co-founder BNBME holiday homes, approached general managers of hotels in Dubai and asked them to send their guests to them instead of throwing them out due to lockdown. 

“With nowhere else to go, these guests shifted to our apartments. One guest even stayed for around nine months at our property,” says Mahtani. 

As a serial entrepreneur, he came with experience in the hospitality industry. Mahtani launched a supply solution for the hospitality industry in Dubai called Unique Precise International and worked with Radiant Hospitality. 

"We listed the property on several hotel booking sites,” Mahtani recalled.

Since then, the business has expanded from one apartment to handling 150 properties across Dubai under  Holiday Homes. 

Visitors can find and book their stay with bnbme holiday homes through their website and sites like Airbnb and Expedia. The properties can range from $100 per night to $10,000 per night, depending on the locality and services.

Among its competitors are Lux Holiday Home, PrimeStay, and StayVista in the UAE. 

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Bringing in a piece of home 

Having grown up in an Indian family, Mahtani takes inspiration from his roots to set the standards of hospitality at bnbme holiday homes. Moreover, since his team of over 70 people, including staff, come from various nationalities, he focuses on picking the best work ethics from each culture and blends them to create hospitality and work standards in the organisation.

Property owners either approach the bnbme holiday homes team directly or come through referrals to list their properties. After inspection, property owners need to upgrade the property including pillows, mattresses, and doorways to match the criteria set by bnbme holiday homes. 

These contracts with property owners can be for one to three years. After the property is listed, the bnbme holiday homes team takes care of the maintenance of the property, marketing, getting bookings, and managing guests’ experience. The team did not share the percentage of revenue they share with the property owners. 

Customisation also takes place in terms of the kind of properties that are maintained by bnbme holiday homes. Mahtani says that understanding the needs of the guests beforehand and what culture they follow back home is essential to create bespoke services for the guests.

“If we see guests coming from China, we make sure the property has a rice cooker, chopsticks and soya sauce. If our guests have babies, we keep baby feeding bottles, sanitisers and cradles etc. If our guests are from India, we keep a belan (rolling pin) for them to make rotis. We try to customise the property as much as we can before they even ask for it,” Mahtani explains.

Mahtani adds that tourists worldwide are moving away from cookie-cutter hotel options and looking for homestays where they can feel the local culture while feeling at home. People want to experience the local culture - experience life in a neighbourhood, go to local supermarkets and buy locally found products, stack up their fridges and make their meals.

“We have properties that are very Arabic-looking, others are more European. We are also modern, simple, trendy, and bling. So, all the properties in our portfolio have different personalities, just like how Dubai is a melting pot of different cultures,” Mahtani adds.

Sooraj Bhatia, who has partnered with bnbme holiday homes to list his property on the website describes his experience.

“Their attention to detail was evident every step of the way. They not only ensure that my property is listed and occupied most times of the year but also generate good returns on my investment. Their online dashboard is truly innovative and easy to use. I can see a snapshot of everything in one glance,” says Bhatia.

While the backend product is still under development, the current version utilises AI tools to inspect properties and their conditions including cleaning, maintenance and more. This, Mahtani adds, reduces the need for a person to monitor every property and the time required to rectify the problems.

Future plans

Tourism in the UAE has been one of the most important economic drivers. The UAE tourism industry was worth $34.6 million in 2022 and is expected to grow at 15.3% compound annual growth rate (CAGR) between 2022 and 2032, as per Future Market Insights.

As per Dubai’s Department of Economy and Tourism (DET), Dubai witnessed 14.36 million international visitors in 2022 while in 2021, the number was 7.28 million.

The average occupancy for the hotel industry in 2022 stood at 73%, one of the highest in the world, rising from 67% in 2021. The figure is slightly less than 75% occupancy in 2019. 

bnbme holiday homes plans to bank on this growing industry with plans to expand further in the UAE and explore business in Saudi Arabia and East Africa. 

(Cover Design by Chetan Singh)

(Disclaimer: The story has been updated to correct the name of the company from BnB Holiday Homes to bnbme holiday homes)