Consistent bookings are the backbone of every short-term vacation rental business. But, what to do when those bookings start to slow down? While this can be frustrating and even stressful, all is not lost — over the years, we’ve learned some easy, proactive steps that you can take to get your bookings back on track.
From adjusting availability and pricing to enhancing your listing’s appeal and exploring additional marketing avenues, there are several ways to deal with low STR bookings!
Understand the Reasons Behind Low Bookings
Before we jump into what you can do in the face of low bookings, it’s important to understand why it’s happening in the first place.
Oftentimes it’s by no fault of your own — seasonal fluctuations, changes in market demand, and increased competition could all play a role. Focus instead on what you can do, which means taking the time to consider your specific situation. When you can identify the root causes of your slow period, you’ll be in a better position to determine the best solutions.
Adjust Your Availability
One way to address low booking periods is to adjust your property’s availability.
Take a look at your current booking schedule and pinpoint periods of low demand. You may want to consider offering shorter minimum stays during those slow periods or opening up availability for last-minute bookings to attract more guests.
When you stay flexible you’ll appeal to a broader range of potential guests, which will only naturally increase your chances of getting bookings.
Review and Adjust Your Pricing
Making sure your pricing is where it should be is another key strategy for combating low STR bookings.
Compare your current pricing to market trends and other properties in your area to make sure you stay competitive. While you may not want to lower your prices, discounts and promotions can incentivize bookings during slow periods. You may also want to implement dynamic pricing so that your rates automatically adjust based on demand.
Give Your Listing a Facelift
Your vacation rental listing is the first thing that potential guests will see when searching for a property, and first impressions matter!
Take the time to review the quality of your listing. Does it stand out from the competition? Your photos, descriptions, and amenities are what will set you apart. Update your listing often with high-quality photos that showcase your rental’s unique features, and optimize your description with the correct keywords. All of the above will improve search visibility and result in more bookings.
Explore Marketing Strategies
In the early days of Airbnb, you didn’t really need to think about marketing. But, in those early days, most hosts were renting out a spare bedroom or a couch — so much has changed and competition is fierce.
Today, it’s important to implement some advertising for your STR, especially if you treat it like a business. Social media can get the word out to a wider audience, and email marketing campaigns will help target previous guests and encourage repeat bookings. You may also want to collaborate with local businesses or even the nearby Chamber of Commerce to see if they would be open to some cross-promotion.
Switching up your marketing efforts can be very helpful for expanding your reach!
Offer Special Deals or Packages
Along the same lines as adjusting your pricing, offering special deals on extended stays or amenities can entice guests who may be on the fence about booking.
You can get really creative here. Whether it’s discounted rates for longer stays or complimentary extras, special offers can go a long way toward filling empty dates. Use your new marketing strategies and promote your deals via social media or email marketing, or add a note directly to your listing.
Provide an Outstanding Experience
Ultimately, the key to attracting and retaining guests is to provide an incredible experience, every single time. There’s no shortcut here!
From the moment they contact you to inquire about your property to the end of their stay, aim to deliver exceptional customer service and personalized touches that exceed their expectations. Respond quickly and kindly to requests, try to anticipate their needs, and go above and beyond to ensure they have a memorable stay.
For example, if you know your area is set to experience a cold snap, make sure to provide extra blankets. Or, include a goodie bag filled with local fare, plus some business cards of the businesses you got them from. It’s the little things that will make a big impact.
Happy guests will leave good reviews, which will inevitably attract more bookings!
Stay flexible, be willing to adapt, and consistently give your guests the trip of a lifetime and your slow booking period won’t last forever. Use the tips we outlined above and you’ll be able to overcome any booking challenges that may come your way!
This content originally appeared in our twice-monthly Guest Book newsletter.
