Increasing the bookings of your holiday accommodation has always been a challenge. Since we decided to enter the world of hotel management or the management of a vacation rental, we have faced many challenges, starting with learning everything about the sector and standing out for being the most professional in marketing, advertising, use of technology, etc. We are always looking to improve and make our income rise instead of fall, a fact that with the pandemic has become more and more difficult.
In this opportunity, we want to bring you some tips that will help you get organized for 2022, and that will allow you to increase your income. We bring you 6 tips that the company Mashvisor, a real estate management specialist, describes as the best tips for 2022.
Price optimization
The price you set for your short-term rental is one of the most influential factors that determine your Airbnb occupancy rates. Many short-term rental owners use a “once-and-for-all” approach where they set a certain rate per night and forget about it. Some implement variations in their pricing strategy, but do it incorrectly. This is one of the most costly mistakes you can make.
How do you optimize your rates? By adjusting seasonally. For example, you may have high rates during peak season as demand is also high. Once the market becomes a bit dormant, you should reduce your rates to attract undecided travelers or vacation attendees, and still beat your competition.
You must make sure you are competitively priced. You can start by looking at what your competitors are charging so that you don’t end up charging much more or less. Remember that your income should be able to cover the cost of ownership and still generate some profit for you.
Charging too high will cause your potential customers to choose a more affordable competitor. On the other hand, a price that is too low will attract attention and make travelers hesitate to book your unit, as they will question its authenticity.
Highlight the best amenities of your accommodation.
You must identify your target guests and understand their needs. Once you understand their needs, you can improve your services to suit them. For example, if you are targeting the sophisticated traveler who is likely to work remotely, instead of simply providing broadband Internet, how about getting an extra-fast fiber-optic connection? Instead of basically having a filter coffee option, how about buying an espresso machine?
Look at it from the guests’ perspective. Imagine you’re stuck between two short-term rentals. However, one has an espresso machine, high-speed internet or other equipment that makes it stand out, while the other is just basic. Which one would you go for?
Once you decide which additional amenities to offer, now is the time to let travelers know that you have what they are looking for. To do this, update the title and description of your ad to highlight your best services. Don’t wait for people to find you. Go out, find them yourself and explain what you have to offer and why they should book with you.
Focus on getting good reviews
Reviews are critical. Many guests make the decision to book or not based on what they read in the reviews section. Always aim to get positive reviews from guests.
How do you get them?
– Offer excellent customer service. Customers love a place where they are made to feel valued.
– Respond to their inquiries promptly. Provide all details or any information requested before booking. Also, always remain accessible during their stay. Communication is vital.
– After the stay, take the first step by providing your guests with a positive review on the platform.
Take advantage of Social Media Marketing
Social media has changed our daily lives. A large portion of the human population barely goes a day without logging into at least one social media platform.
- Share useful information on your Facebook business page to let potential guests see what you have to offer.
- Open an Instagram account and work with influencers and bloggers to help you get more exposure for your business.
- Post high-quality images of your rental on Twitter and use hashtags related to travelers and short-term rentals.
Offer special deals
You may have a guest undecided between two different listings. Your best option to get the guest to book with you is to send them a special offer. While you won’t make as much money as your target, it’s a great way to get a booking when there’s a chance of losing it to a competitor.
If you follow each and every one of these tips, we’re sure you’ll be the top-performing host of 2022.
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