As a vacation rental property manager or host, maximizing the revenue potential of your property is always a main focus. Beside just optimizing price and distribution, renovating your property or adding new amenities and features is another way to drive additional revenue from your current listings (in some instances up to 15-20% more per year!).
At Beyond, we help property managers, hosts, and owners make the most out of their revenue management and pricing strategy. For a vacation rental home, the nightly price is the anchor of any good revenue management strategy, but there are a lot of factors that can (and should) go into that final price. We recently took a look into our data at the 10 most popular Airbnb amenities that hosts offer. Here are the amenities that offer the best bang for your buck, plus we’ve got some advice on maximizing your amenity potential with rentable amenities!
The Winner: Hot Tubs & Pools
By far the most impactful permanent amenity that can be added to a vacation rental property is access to a pool or a hot tub. Based on our research within popular US markets, vacation rental listings with hot tubs can charge a premium of 20-25% above properties without hot tubs. Depending on the nightly rate, this can end up paying for a hot tub installation within a few months.
Similarly, pools can help drive average daily rates (ADRs) between 15-25% above listings that do not have a pool amenity listed. Depending on the market, a pool can be a fantastic investment to make a property stand out and deliver even more value to guests.
While adding on a pool or renovating the kitchen in a property may seem like the best bang for your buck, it’s important to remember that there are “standard” amenities that all guests now expect from a vacation rental home. These include things like heating and air conditioning (where needed), as well as important features like stable and fast wifi and TVs enabled with streaming services. While these amenities may not drive additional revenue for a property, they can, and will, impact reviews, ratings, and overall booking pace.
While adding a pool, hot tub, or even just keeping up with the “amenity status quo” may seem like a no brainer if you’re looking to increase your rental revenue, there are even more amenities that can be added to a vacation rental to drive revenue and catch the attention of guests.
Maximize Your Vacation Rental Revenue with Rentable Amenities
As a vacation rental host, upselling can be a great way to increase revenue and provide guests with unexpected amenities and add-on adventures that will create unforgettable memories and lead to five-star reviews. By offering unique opportunities for guests to curate their stay with you, you will quickly stand out as a host, providing much more than just an accommodation. You will be providing an experience.
You may think that offering this personalized service to every guest is expensive, time-consuming, and inefficient. Not anymore! Mount offers a new solution that enables you to empower your guests to customize their stay from the convenience of their phone. And the possibilities for customization are limitless.
Transforming Your Vacation Rental into an Experience
Depending on where your vacation or short-term rental is located, your guests might be traveling to specifically enjoy what your destination has to offer. Or perhaps you cater to the off-the-beaten-track crowd that likes to live like a local. Or maybe your properties appeal to families, and you can step in and ease the stress by setting up beach bundles. Here are a few popular amenities that your guests can effortlessly rent via the Mount app:
- Electric bikes or scooters for exploring the town
- Mountain bikes for outdoor enthusiasts
- Snowshoes for a skiing alternative
- Kayaks for early morning solitude
- Firewood bundles for cozy nights
- Beach bundles for long days in the sun
If you’re looking for a way to earn ancillary revenue and stand out from the crowd, Mount makes it easy. And if you already have the equipment, but are concerned about the risk, Mount has you covered there as well. Mount is the marketplace that can take whatever you own and turn it into a rentable amenity for travelers. Mount’s software handles insurance, payment processing, and the management of the amenities so that these new revenue streams don’t add additional work. Visit the Mount platform to get started!
How do you factor amenities into your overall pricing strategy? At Beyond, we are uniquely positioned to help you with your revenue management strategy. If you’d like more advice and tips, feel free to reach out to us for specific guidance or check our blog regularly for updates.