Here are some key learnings that you may have gathered from the slow season:
Different types of rentals perform differently in different market conditions. It's important to pay attention to trends and patterns in demand and to adjust your pricing and marketing strategies accordingly.
Our 3/4 Beds outperformed our Apartments over the festive period.
Our contractor direct business drops off from Mid December.
Occupancy and pricing may fluctuate based on factors such as seasonality, demand, and competition. It's important to be prepared for these fluctuations and to have a plan in place for dealing with them.
We moved to Medium term bookings too late this year and will start planning from September next year to take us through to Feb
We will focus the 1 bed on this strategy to reduce void periods.
Providing a high-quality experience for your guests, including through amenities, customer service, and communication, can help improve your ratings and reviews and increase the appeal of your Airbnb rental.
Our review scores improved during this period. I think this is due to the price points and value perception.
We used the downtime to make necessary improvements and maintenance where we had gaps pre Xmas.
Regularly reviewing and adjusting your pricing and marketing strategies based on market conditions and customer demand can help you stay competitive and maximize occupancy.
We had to get more aggressive with this year's discounts operating some properties at break-even pricing levels. Revpar dropped was 25% lower.
The market occupancy has dropped considerably. The average in some areas during December was only 40%. Overall we performed at 76%