We’ve arrived at the footsteps of Spring, where once again the buds are in bloom and the bees are abuzz. While most folks are gearing up to celebrate Saint Patrick’s Day and take note of the Ides of March, we are looking at booking pacing in Ireland, where it’s not all sunshine and rainbows.
Booking Pacing is Really Down for Ireland
In Ireland, the number of reservations being made over the last week is down 64% year-over-year. And of those reservations, the vast majority are for summer. At this same time last year, for example, the highest amount of bookings made were for the week of Saint Patrick's Day.
Drilling Down on Dublin
For Dublin specifically, the Saturday before Saint Patrick’s Day can normally expect to see a 25% increase above average from the rest of the month.
For 2021, this year’s Saturday before the holiday—March 13th—was nearly flat. The cancelation of the parade surely played a role in limiting the number of visitors and party-goers from flocking to the city.
Published Airbnb rates for this week are also down 13% from 2020 and 24% from 2019, while occupancy fluctuates between 15-20% below normal levels by neighborhood in the Fair City.
The take-away here is to double-check your pricing strategy and to make sure you do not overprice your listings during a time when an event that usually happens is canceled.
To help blow away the sorrowful clouds of lower than expected earnings this Spring in Ireland, we leave you with a parting Limerick:
Behold a revenue manager,Thought to be of the highest caliber;Pricing St Paddy's Day,So high no one would pay,And now known to be quite the amateur!
Do you need a refresher on pricing strategy or anything else related to your short-term rental? Don’t hesitate to reach out to us at email@example.com today.