Research article

The prime rental ski market

Rupert Longsdon, Founder and CEO of Oxford Ski Company, on the evolving trends in the prime rental ski market. Plus, we reveal the average rental costs for a prime chalet in resorts around the world


What led you to start Oxford Ski Company?

I first went skiing in my early teens and just loved being in the mountains. Several years later, I was looking for a career path and the combination of the mountains and the service industry seemed a perfect fit. That was 1998 and Oxford Ski Company grew from there.

I first went skiing in my early teens and just loved being in the mountains

Rupert Longsdon, Founder and CEO, Oxford Ski Company

Do you remember the first chalet you operated?

It was chalet Domaine de la Baronne in Crans-Montana. It’s an amazing family chalet owned by a lovely Dutch family.


What was playing on your Sony Walkman back then?

Funnily enough I found my old Walkman in a box only last year. It still worked, and the tape was a Tom Petty album.


Where is your favourite ski nightlife?

Bananas in Val d’Isère is always going to be dear to my heart as it was my first job in the mountains (I was a glorified washer-upper in the restaurant). I’ve spent a lot of time in Dick’s Tea Bar too, but it has to be Bananas – straight off the slopes in the early evening.


Skiing or snowboarding?

I love skiing – either with the children or pushing myself with ski touring. I’ve also really got into telemark skiing.


Why would you recommend a catered chalet over a hotel?

The main consideration is determining what your group wants. A catered chalet is like staying in your own home for a week. It’s a private space for you and your family and gives you the flexibility to create the holiday around yourselves. It works particularly well for families with young children as you don’t have to worry about noise and other guests.

It’s a private space for you and your family

Rupert Longsdon, Founder and CEO, Oxford Ski Company

How have catered chalets changed over the past 20 years?

In the late 1990s, chalets were perfectly acceptable but a little dated. Following a rise in global wealth, all levels of quality have gone up significantly. Once, en suite bathrooms and outdoor Jacuzzis were the thing. Now, it’s about having outdoor pools, spas, playrooms and cinema rooms.


And what about service levels?

Service has gone up in line with the quality of the product, so there is likely to be a qualified chef on hand. But it’s as much about the flexibility of service as the quality. For example, one night you might want the full chef experience, the next you might just want a pizza with the children.


How do you work with operators to make chalets as Covid-safe as possible for rental?

It’s important for the Alpine countries to have visitors come to their resorts and they have been brilliant in advising hotels and chalets about procedures on how to operate safely. Standards across the board are very high.

Hotel Edelweiss, Courchevel


What provisions are there for clients who may not be able to travel this winter?

Of course, resorts might close, and more quarantine measures might be introduced. But clients will get their money deferred, returned or some combination of the two.


What are bookings like for the upcoming season?

They were good in January and February but obviously slowed after that. Through July and August, we were probably 50% of where we would normally be at that time of year. Clients are still booking though. Others are holding off until the resorts open. If the snow is good, we’re anticipating a last-ditch rush.


For the money-no-object client, what is the must-have amenity?

Ski-in ski-out, without question. The piste has to be on the doorstep of the chalet – not even across the road. Then it comes down to spas and extra space for children, such as breakout areas and cinema rooms.


At the higher end of the market, how do people book? Is it led by resort or do you find a chalet based on their budget?

Most high-end clients know exactly which resort they want to go to because it’s more about mingling with the right people. So that means the likes of Gstaad, St Moritz and Megève. For other clients, there is more scope as it comes down to the makeup of the group and what they want to achieve. For parents who are keen skiers but taking their children for the first time, for example, we might recommend one of the smaller satellite resorts around the Three Valleys, such as Saint-Martin-de-Belleville.


Do you get a lot of repeat business to the same resort or chalet?

That does happen, particularly for a family at the start of their skiing journey. There’s something comforting about knowing where everything is – you settle in quicker and make the most of your time there. Once they’ve got their ski legs, they might try a different country or different resort.


Is there an average spend per family?

It’s around £10,000/week for a five-bedroom self-catered chalet with two or three families staying during peak season. That would be for resorts such as Morzine, Verbier, Zermatt. In Kitzbühel, Lech and St Moritz, for example, the price is much higher, mainly because there aren’t that many chalets to rent.


Are you seeing a shift in travel patterns?

During the summer, more clients were certainly considering driving to resorts. I think more will still drive, but as people have either flown or heard good experiences of other people flying, the mood is swinging back to flights. They’ll book flights much nearer the time though.

What about the snow train service?

With fewer flights, more people are considering travelling this way. It’s a brilliant service and also fits well with skiers who are looking for a more environmentally sensitive way of travelling. Unfortunately, the direct service from London to the French Alps has been cancelled this year but indirect services are still available.


Do you see an emerging trend for longer holidays?

We’re already there. Rather than go twice a year, people are going once but for longer. Some of this is about their carbon footprint, but going for 10 or 14 days means you can really switch off and relax. In the past few weeks, several clients have extended their holidays. They can easily work from the resort if they have to. Indeed, we’re booking a lot of season rentals for people moving to a resort for the winter.

Going for longer means you can really switch off

Rupert Longsdon, Founder and CEO, Oxford Ski Company

Why is Kitzbühel so expensive to rent but only 13th on Savills prime prices league?

It’s all about supply. There are very few private chalets to rent there, and those chalets are all high end. Lech, on the other hand, is expensive to buy but less expensive to rent (compared with Kitzbühel) due to strict rental obligations leading to more supply. Overseas owners who don’t live permanently there are obliged to rent out the chalets when they are not using them.


Most obscure request from a client?

Many years ago, we had to find a chalet that would accept a pet dog. We managed but there were other conditions. The dog had a bigger menu list than its owners. Three courses for breakfast, lunch and dinner and every meal had to be different. On top of that, we had to provide a litter tray of fresh turf so the dog didn’t get too cold in the snow. Fresh grass in St Moritz midwinter is not easy to find so we had to source it from a turf supplier near Paris.


Do you do many summer bookings?

This is definitely increasing as more and more clients are trying the Alps in the summer and enjoying it. The trend has probably been heightened this year by the space and openness that the mountain provides compared to, say, a seaside resort.


What other trends are you seeing?

Although skiing is a sport, it’s a lifestyle too. For some, the mountain restaurant is as important as the skiing. Clients are booking the best restaurants and bars in advance, and they’re also looking for those fun extras, such as spas and yoga sessions. The lifestyle offering is a growing trend.



The average rental costs for a prime chalet in resorts around the world

In the prime ski rental market, average rents can vary greatly depending on the resort and level of service provided. Looking at data from Oxford Ski Company, average weekly rents at peak times for comparable 5-6 bed catered chalets can range from €22,900 per week in Niseko to nine times higher in Kitzbühel.

The difference between low and peak season rents varies by resort. A number of factors can drive variation in rental values at different times of the season. Snow conditions at the fringe of the season could mean higher located resorts benefit from higher rents at these times. Availability of stock is another driver.

Megève has the largest difference between peak and low season rents – 206%. Kitzbühel has the lowest variation, with average peak season rents 31% above the low season.

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