Online bookings can Increase Your Rental Property Revenue

img Bella Christina | November 30, 2022

Hi, I’m Bella, a revenue management specialist at Bukit Vista. I have managed more than 50 properties in popular areas of Bali, which is one of the most competitive rental property markets in the world. 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? The more availability you offer, the more likely people searching for specific dates will find your property. It is crucial to remember important dates and open as many rooms as possible to seize the greater opportunity of exceeding your revenue expectations.

Below are the 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 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.

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.

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