We have all heard the conventional wisdom that second homes by the shore and slopes are great vacation rental investments, but have you considered a vacation rental servicing the growing “destination wedding” market?
If you are in the market to purchase a second home and desire strong rental income to help pay down the mortgage, consider seeking a property located in a popular “destination wedding” locale. Destination weddings, also called “wedmoons” and “elopements” are an increasingly popular alternative to the larger more formal traditional wedding. About ten percent of all weddings today are held away from the bride and groom’s hometown. The general rule of etiquette is that the guests pay their airfare to the destination and the bride and groom pays for the food, drinks and lodging. A destination wedding for 20-40 of the bride and groom’s nearest and dearest compares favorably in cost to a dinner and reception for 150-200 people. The ceremony, the reception and the honeymoon itself all take place during a long weekend with other activities planned to create memories for the revelers.
Judith Rivers-Moore, author of Beautiful-Weddings and Events, lists Las Vegas, Disneyland(s), Charleston, South Carolina and the California Wine counties of Sonoma and Napa as the top five destination wedding locales in the United States. Other favorite spots are Hawaii, New Orleans, the Poconos, Niagara Falls, the National Parks, Lake Tahoe, San Francisco and New York City; most any locale that offers beautiful settings and fun things to do will see its’ share of destination weddings.
Marianne Hockenberry, owner of the Flying Cloud Retreat in Sonoma County, happened into the destination wedding vacation market by chance. After listing her family’s second home as a vacation rental on the internet one winter, she was surprised that within a few weeks of posting it, the weekends were fully booked through the spring, summer and fall. More than 50 percent of the renters were in Sonoma to attend a wedding at one of the local vineyards. After that first year, she made it a point to block out the weekends she knew her family would be spending in Sonoma.
Some Top Wedmoon Destinations:
Las Vegas, NV
Miami, FL
Charleston, SC