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How to Increase Vacation Rental Revenue in the Off-Season

How to Increase Vacation Rental Revenue in the Off-Season

The likelihood that you have a high season and a low season is the same regardless of where in the world you are. Who, in all honesty, doesn't like peak season?

Even though the peak season for your vacation rental is coming to an end, you've undoubtedly thought about how to fill all those vacant properties you have in the off-season. The off-season is notoriously challenging for property managers and may be disappointing, especially when statistics start to fall. However, by putting the right strategies in place—from last-minute booking to customized amenities—you can certainly boost earnings.

Furthermore, despite the off-season being the least popular time of year, you can still profit from it since most travelers prefer accommodations that are uncrowded and reasonably priced. Having said that, let's explore the top strategies for boosting your vacation rental revenue off-season:

  • Adjust off-season pricing
  • Temporarily remove or lower minimum stay requirements
  • Target the right guests
  • Activate instant bookings
  • Update your listings
  • Create policies suited to the off-season
  • Run discounts offers and promotions
  • Organize events
  • Include amenities that sell well off-season
  • Tie-up with local businesses

Adjust Off-Season Pricing

If you want people to book your vacation rental during the off-season, consider charging less. Make sure, though, that off-peak rates are set at an appropriate level or that low-season rates are sufficiently alluring during lean periods of the year.

Even if you are aware that you are at capacity, you should keep your pricing the same on the weekends. However, you also shouldn't overcharge potential customers in an effort to discourage a booking.

In light of the foregoing, pricing is determined by both your judgment and what other competitors provide and achieve. Create a pricing plan that works by taking into account additional variables such as previous booking prices, the number of guests, their preferences for their stay, location, weather, holidays, and so on.

Temporarily Remove or Lower Minimum Stay Requirements

Lowering your minimum nightly stay or temporarily removing it to increase occupancy and revenue is a great approach to think about if you want to manage your vacation rental business as efficiently as possible during the off-season.

As a result, travelers looking for a quick weekend getaway or last-minute accommodations will find the vacation rental more alluring.

Target the Right Guests

Target the Right Guests

Determine the types of travelers who prefer an off-season vacation by analyzing your previous bookings. There's a chance you'll run with couples looking for a calm and romantic weekend trip, skiers excited about winter sports, or maybe the elderly hoping to avoid crowds during the busiest times of the year.

In any scenario, think about how to attract that niche market to your vacation rental. Couples could hesitate to book a four-bedroom vacation home, for instance, if they believe it is overpriced for the additional space. One tactic would be to seal off the two extra rooms and re-market the property as a 1 or 2-bedroom vacation home at a lower price.

Activate Instant Bookings

The majority of travelers typically find alluring flights at unbeatable prices and choose to book them immediately together with accommodation at the last minute. If you take a closer look, you'll see that last-minute reservations are common among tourists and that there is a definitely noticeable spike during off-peak season of the year for many vacation rentals.

To increase revenue for your vacation rental, it is crucial for hosts to be ready to accept last-minute reservations. Also, take into account that travelers value their time, so if they have to wait for your approval before staying at your property, there's a good chance they'll seek elsewhere.

Update your Listings

Update your Listings

Even though it may be currently winter and your listing's image claims to have been taken in spring, you might want to think about switching to an image that more accurately reflects the season you are in. Consider it this way, If your listing image is not reflective of the current season, it won't appeal to travelers.

Having said that, emphasize your vacation rental's positive characteristics and give guests a reason to stay. For instance, highlighting unique characteristics like a Christmas tree that has been decorated, the utilization of firepits, and other seasonal amenities will be a sweet touch. By doing this, you can entice travelers to book your vacation rental in December and convince them that it's a perfect place to celebrate the holidays.

Additionally, by updating your listings, you can increase visibility and your chances of luring off-season guests. It is essential that the photographs you use to update your listings are of high quality, and that the descriptions are clear and concise. More significantly, share links to your listings on social media to increase visibility and make sure your vacation rental website's design makes it possible for you to be flexible.

Create Policies Suited to the Off-Season

To begin, off-season tourists, favor listings that provide flexibility. Consider that the majority of tourists book last minute and are not looking for a holiday that was planned months in advance. In reality, some people may prefer flexibility over pricing beyond all else.

Having said that, give travelers what they want and allow guests to cancel for free up to two weeks before their arrival. Also, create distinct cancellation policies for each platform, each with a different price point. Booking.com, for example, allows travelers to spend more or less for the same accommodation depending on whether they pay in advance or at the property if it includes complimentary breakfast, and when they can cancel their booking without being penalized.

The concern with this strategy is that guests may start to favor price over flexibility as the departure date approaches because they will be more devoted to their trip plans if they book last-minutely.

Sending them a "Thank you" note in which you show your appreciation for choosing your Airbnb and how much you respect their decision to reserve a short-term rental may help you avoid or minimize the risk.

Run Discounts Offers and Promotions

Run Discounts Offers and Promotions

Who doesn't enjoy a good deal?

By offering guests promotions like "For three nights, get two nights to stay free" or discounts like "30% off," you might find that you're able to fill much more of your calendar than you previously expected.

It attracts last-minute or low-budget travelers, young travelers, families, digital nomads, and business groups by providing tempting deals. Additionally, because they will be aware that they are getting a better value, they will find it more appealing especially when you emphasize features such as rooms with stunning views of the mountains.

Moreover, using social media or other channels to launch a flash sale or special deals for a short time is a terrific way to boost your revenue during the off-season. Having said that, it is also a good reason for following up with past guests or queries that didn't result in bookings.

Organize Events

The off-season is generally the perfect time to leverage events to boost revenue for your vacation rental and promote additional services like accommodation, dining, and entertainment.

Explore nearby events and activities, or reach out to event sponsors to establish relationships so that your property is featured in their email newsletters and irresistible offers are made to everyone who will be attending or taking part in the event.

By doing this, you'll increase the number of weekends or have a better possibility of booking more travelers during the off-season.

Include Amenities that Sell Well Off-Season

Include Amenities that Sell Well Off-Season

In accordance with the season, update and emphasize the features of the property. However, you should eventually think about adding amenities that will increase bookings for your vacation rental during the off-season. For instance, highlight the hot tub or jacuzzi within your vacation rental; this is a key selling point, especially in the winter months. Alternatively, consider changing your usual springtime rose to a snowy red.

Remember that customers will value these tiny gestures enormously and will be far more inclined to provide excellent reviews. More significantly, if you don't highlight your vacation rental's top-selling features, it will not make any difference.

Having said that, utilize the OTA platforms to showcase all of your property's greatest and most important features as well if you want to improve the visibility of your listing in the Airbnb search results and boost the number of prospects or bookings.

Tie-Up With Local Businesses

Work collaboratively to promote your vacation rental with nearby businesses like theaters, ski resorts, and music festivals so that their guests can also become your guests, which will be advantageous for both parties during the off-season.

Additionally, offer local businesses to promote your vacation rental for their conferences, meetings, and other events that drive up bookings or provide a consistent stream of income since business events are repeated annually.

Having said that, provide extras that guests can make use of without making a reservation at your property, like discounted access to the bar and restaurant or use of the pool, etc. Furthermore, making the locals feel valued and welcomed has an effect that endures for a very long time.

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