Homeowners to make a killing as hotels fill up for Volvo Ocean Race

Date Published: 15-Feb-2012

By Declan Tierney

Householders in and around Galway could make a financial killing by renting out their homes to the hordes of visitors who are set to throng the city for the finale of the Volvo Ocean Race in early July.

With hotels rapidly filling up, it could result in a bonanza week and more for home owners who are willing to rent out their homes – like many used to do several years ago during the Galway Races when there were considerably fewer hotel rooms than there are now.

And outlying towns and villages have been encouraged to ‘tap into’ the potential being created by the Volvo Ocean Race which the organisers claim will bring more than 600,000 visitors to Galway.

Galway Chamber of Commerce CEO, Michael Coyle, said that as nearly every city hotel bed was being snapped up, it was an opportunity for outlying town to benefit for one of the biggest events ever to come to Galway.

He said that towns and villages like Claregalway, Oranmore, Tuam, Loughrea, Gort and Oughterard should be marketing their products and services so that they can ‘piggy back’ on an event expected to generate a whopping €80 million spend.

Towns like Tuam and Loughrea have been encouraged to try and ‘adopt’ one of the participating teams in the race and host a civic reception for them. This would guarantee them bed nights as well as international publicity.

But the mega event also presents an opportunity for householders to earn a bit of cash by renting out their homes for the duration of the festivities.

With hotel prices being sky high at this time, the owners of three and four bedroom homes could realistically expect to receive €500 for moving out and renting the property to a group of visitors. Houses along the coastline would obviously command a much higher rent.