Hi, I’m Bella, a revenue manager specialist at Bukit Vista. I work on pricing strategies to optimize revenue, competing with other properties and catering to guests from around the world, thus optimizing partner revenues worth thousands of dollars.
After the pandemic, guest behavior has changed, and most of them now prefer to make online bookings before their arrival.
The question then arises: How can your guests know if your accommodation is available and increase bookings? In this guide I’ll go over some of the proven strategies to achieve higher bookings for our 100+ rental properties.
Table of Contents
Reasons why online bookings are more profitable than you might realize
1. Greater convenience is offered through online booking
Nowadays, visitors are looking for a streamlined process to make hotel reservations. Online bookings are accessible, enabling customers to reserve their accommodations at their convenience without needing to leave their homes.
Apart from the advantage of booking a room outside your usual business hours, your guests can do so in their preferred language and pay using their own currency. Online reservations have simplified and made travel arrangements stress-free for international travelers.
2. The performance of online booking can be monitored with greater ease
You can access comprehensive information from previous bookings, which can aid in determining pricing strategies and implementing improvements to enhance your revenue.
Without a performance tracking system, it could be difficult to pinpoint your visitors’ origins, ages, interests, and reasons for traveling to your destination. We can gather this information online with our BV GO app and compile it into detailed reports, enabling you to make informed decisions.
3. Enhance the guest experience prior to making reservations
Your potential guests often make accommodation decisions based on reviews from previous guests and select the hotel they wish to stay at. Users can find online reviews about destinations and activities they are interested in. This distinction between offline and online hotel reservations will be discussed here.
It’s important to acknowledge that offline booking is becoming obsolete. Nearly every tourist has internet access and can easily make an online reservation. Embracing online reservations can open up more opportunities and potentially increase your revenue.
Simple and quick fixes how to increase bookings on Airbnb
1. Enhance your photos (especially for the hero photos)
Your property photo or listing thumbnail has a huge impact on your booking. While visitors may overlook your description, they often focus on photos. Consider updating them after renovations or when you have the budget. Your cover photo matters for first impressions in search results. Use concise captions to highlight key features, like a king-sized bed or high-end espresso maker, providing essential information. For high-quality images, invest in a professional photographer – the cost pays off in the long term.
2. Write engaging title optimized for search
Your title should be an SEO-heavy title to make it easier for your listing to appear on google or listing searches. You can add appropriate keywords to your property, such as the type of room you provide, the unique concept of your property, or an interesting spot near your property.
But don’t just focus on SEO, your title must also attract the attention of guests. To spice up your title, you can add free benefits that you offer to your guests, such as free parking, free breakfast, free gym, and others. Guests may not be looking for these things, but this can be the added value they want. This method can also distinguish you from other competitors.
3. Competitive pricing strategy
Effective pricing significantly influences your order rate, driving consumer behavior. In the realm of Airbnb, pricing stands out as a pivotal factor for high rankings. Maintaining the same price over extended periods might not yield optimal results due to market fluctuations and seasonal demand changes.
To enhance Airbnb bookings, consider implementing a competitive pricing strategy. This not only adapts to market dynamics but also positions your property ahead of local competitors. Stay informed about opportune moments to adjust your pricing – whether to decrease or increase – aligning with prevailing market demand.
We at Bukit Vista use Dynamic pricing, a strategy where businesses adjust the prices of their offerings to account for changing demand, which use flexible instead the fixed price. The goal is to get the right price, at the right time.
Conclusion
I trust you have found this article valuable and that it has provided you with a clearer understanding of how availability can contribute to revenue growth. For our current partners, if you have any inquiries regarding your property, please don’t hesitate to get in touch. As for newcomers, if you own an exceptional property and are considering our property management services, don’t hesitate to contact a representative from our Bukit Vista team. We offer complimentary consultations and revenue projections.