Full occupancy isn’t everything!
Meet Agnieszka
Agnieszka recently started renting out a small apartment in Warsaw’s Mokotów district. When advertising her apartment as available for short-term rental on a just few online booking sites, she set the same rate for the whole year, regardless of the day of the week or the season. Agnieszka’s apartment was soon nearly 100% booked.
She found BookingHost, when she was looking for a company to manage her contacts with guests and cleaning services. During our very first meeting, after we had assessed the potential of her apartment and evaluated her prices, our experts told Agnieszka that she could significantly increase her profits from renting out her apartment. We convinced her to entrust full management of her short-term rentals to BookingHost, and after only two months working together, Agnieszka began to see twice as much money flowing into her bank account as before.
Challenge
- Review of current rates for the property, followed by establishing new, more profitable but still competitive prices based on monitoring the market and review of the competition.
- eveloping different sales strategies for low and high season.
- Developing an effective plan of action for periods when the most attractive dates have already been booked.
Strategy and implementation
We made sure that Agnieszka’s apartment was posted on many sites, most importantly on the most popular ones like Booking.com and Airbnb, which increased the property’s potential for reservations. But we didn’t forget about smaller local players. The lion’s share of success lies in reaching out widely to a numerous and diverse range of clients.
Taking into consideration such key aspects as the season, calendar of events in Warsaw, the peculiarities and availability of the competition, we created the most effective pricing strategy for Agnieszka’s property.
We carefully observed the potential of the apartment entrusted to us for rental so as to skilfully adapt the prices and adroitly juggle how high they were depending on the situation on the short-term rental market, which we constantly monitor. A mistake that owners often make is underestimating the value of their apartments for rent, neglecting to monitor the market, or lacking the ability to manage their prices dynamically, because of which they fail to earn the higher profits that they could.
Results
Thanks to diversifying the channels of access, we significantly increased the group of travellers who could see the offer of Agnieszka’s apartment. Based on our knowledge of the market, the seasons and the competition, we raised the prices to the level that corresponds more to the standard for apartments entrusted to us. And, what’s most important, we were able to double Agnieska’s profits, both in both high and in low season.
Results
Dochód Agnieszki
+ 20 000 zł
Obłożenie
Średnia cena za noc
- Without Bookinghost
- With Bookinghost
Why BookingHost?
- BookingHost experts make every effort to manage the pricing policy for properties entrusted to us, thanks to which our clients see significantly higher rental income, both in high and in low season!
- Optimizing rates, combined with ensuring the highest possible occupancy rate for rental apartments is our priority, and our clients profit as a result!
- Thanks to our advanced algorithms and knowledge that occupancy isn’t everything, we ensure maximum income from short term rentals.