The spring season can be a challenging time for vacation rental managers in ski markets – as temperatures rise, the number of bookings drops. However, with some creative strategies and a bit of extra effort, it is possible to maximize your bookings during the mud season in winter markets. Plus, using an automated vacation rental pricing tool to proactively adjust your revenue strategy makes all the difference. Let's take a look at some tips for doing just that.
Local Events & Attractions
One way to attract more customers during the shoulder season is by capitalizing on local events or attractions. Whether you are located near popular national parks, museums, community events, or popular tourist attractions, promote your area’s unique offerings to potential guests. For example, you could offer discounted event or attraction tickets for guests who stay at your property during the shoulder season or arrange a special weekend package that would include discounted lift tickets and lodging at your property.
It is also important to focus on marketing campaigns tailored specifically to increasing bookings during the shoulder season in winter markets. Utilize email campaigns to reach out to repeat guests as well as potential new ones, create social media posts highlighting any promotions that you are offering, and use targeted ads via Google Ads or Facebook Ads to show customers searching for vacation rentals in your area the benefits of your listings. Also, consider partnering with other businesses in the area – such as restaurants, shops, tour operators – as part of a bundled promotion that will benefit both parties.
Be sure to stay connected with past guests while they are away from your property by sending them emails with helpful information about activities and attractions in the area. This will not only help ensure that these past guests come back again next year but may also encourage them to recommend your properties to their friends and family members looking for getaways!
Adjust Your Revenue Strategy with an Automated Vacation Rental Pricing Tool
Finally, it’s essential to use the right vacation rental pricing tool to make it easier to adjust your revenue strategy. With your pricing automated, you can easily pull the following levers to maximize bookings:
Modify Last-Minute Discounts: Now is the perfect time to take a close look at your last-minute discounts and adjust if necessary. First, take a look at your booking lead time to see if there are any shifts. If the booking lead times have shrunk, then you should ensure that your last-minute discount rates and percentages also shrink to make sure you are not handing out too many discounts. You should also ensure that you are not discounting your peak bookings period.
Focus On Occupancy: When demand is lower, you want to ensure that you are getting your fair share of bookings. A realistic, occupancy-based revenue strategy will help to capture existing revenue. However, we do not recommend setting your prices too low or lowering your standards when accepting new reservations. Every booking should still be profitable and be up to your standards.
Adjust Minimum Prices: If you raised your minimums recently to keep up with peak season demand, then it might be time for an adjustment. Take a look at your minimum prices, and determine if they are still accurate. We do not suggest dropping prices too low across the board; this is a careful reconsideration of what a minimally acceptable price may be for your market right now. As we have said earlier, every booking should still be profitable and up to your standards.
Staying on top of trends and adjusting your revenue management strategy is important so that you can get your fair share of demand — and it doesn’t have to be hard with these tips. Beyond is here for you. If you have any other questions feel free to contact us.
Are you new to Beyond and want to get started with the platform that powers thousands of short-term rental owners and managers to get, grow, and keep revenue? Sign up here.