Hi, I’m Chinta a business data scientist at Bukit Vista. I leverage data analytics to identify and implement revenue generation opportunities across our 100+ vacation rental business in Bali. By analyzing large datasets and uncovering insights, I have seen how data-driven
booking strategies can optimize pricing, occupancy rates, and guest satisfaction.
In the dynamic world of vacation rentals and hospitality, hosts often grapple with a fundamental decision: should they focus on short-term bookings, which offer higher nightly rates but frequent turnovers, or opt for the stability of long-term bookings with a potentially lower per-night income? This dilemma is a crucial one, and understanding the pros and cons of each approach is essential for success in the industry.
Short-Term Bookings:
Pros:

2. Flexibility: Short-term rentals offer hosts the flexibility to adjust pricing and availability quickly, allowing them to maximize revenue during high-demand periods.

3. Meet Diverse Guests: Hosting short-term guests provides an opportunity to meet people from various backgrounds and cultures, enhancing the host’s social experience.


Cons:



Long-Term Bookings:
Pros:
1. Stable Income: Long-term guests offer hosts a steady, predictable income stream, making it easier to budget and cover expenses.
2. Less Management: Fewer turnovers mean less cleaning and communication, allowing for a more hands-off approach.
3. Lower Wear and Tear: Long-term guests typically treat the property with more care, resulting in less wear and tear.
Cons:
2. Less Flexibility: Longer leases mean less flexibility in adjusting prices or using the property for personal use.
Finding the Right Balance:
This is something that Bukit Vista experienced during the pandemic. The strategy employed was a long-term approach due to low turnover and lockdown measures in place. Here is sample of property that transforming from “both long-term and short term” strategy to “only short-term” strategy during the pandemic.

Hope you have a better understanding of which booking strategy to employ now. If you want to learn more about the optimal rental property strategy, we provide a business plan for property owners who wants hassle-free management from Bukit Vista.