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How To Massively Increase Booking Occupancy Levels Using Pricelabs
Meet Tokeet Channel Manager, your ultimate all-in-one property management solution. It’s the game changer designed to boost your profits while simplifying every aspect of your operations. Join 60,000 rentals across 95 countries who trust Tokeet. Click below and discover Tokeet - the business partner you never knew you were missing!
Link: https://www.tokeet.com/?ref=ztfjzgj
THE AIRBNB CONSULTANT - CONTACT US
https://calendly.com/airbnbconsultant/15min
For this episode of the Airbnb Nomads toolbox, Alex explains how to maximise your booking occupancy levels and profits by using Pricelabs to help you manage your Airbnb calendar effectively. Too many SA owners take short bookings too far out, which often leads to them missing out on potential long bookings or are not upping their rates during high-demand periods e.g. local events.
The step-by-step walkthrough of PriceLabs settings and advice Alex shares in this episode are vitally important for all serviced accommodation landlords. It will help you to keep your property full with the type of guests that make you the most profit.
KEY TAKEAWAYS
-
Most hosts are currently not optimising their Airbnb booking calendars effectively, so are leaving money on the table.
-
You should not be simply setting a rate, walking away and allowing every single customer to book at that rate, regardless of demand or whether events are taking place in your area.
-
If you allow people to book just 2 nights months in advance when someone else wants a 4-week-long booking during that same period you miss out on big profits. You only get paid for 2 nights instead of 28.
-
Using dynamic pricing software like PriceLabs enables you to control minimum stay lengths.
-
When set up properly PriceLabs will put your prices up at historically busy times of the year and do so on autopilot.
-
To get the most out of software like PriceLabs you have to understand your customer avatar e.g. how far out they are likely to book.
-
Closing your calendar after 90+ days out reduces the chances of a customer cancelling on you.
BEST MOMENTS
“This is really important, and to be quite honest, I was quite shocked to find out just how many people on optimizing their calendars. ”
“The goal is the same. It's to fill your calendar with the right booking so not only keep your property occupied but most importantly, they also bring in the most profit ”
“We found a balance between filling our calendar with both short and long stays, while also prioritizing much longer bookings.”
“You can customize your settings based on your own guest avatar.”
“The great thing about Price Labs is that it's so flexible. There are so many things you can do.”
EPISODE RESOURCES
https://hello.pricelabs.co/
HOST BIOS
Alex & Pooh have built a portfolio of over 16 Serviced Accommodation Units and 10 Buy-To-Lets collectively over the last 5 years.
This AirBnB Business has allowed each of them to create their own tailor-made ‘lifestyle by design.’
Pooh chose to escape the corporate life as an electrical engineer instead to spend his time at home with his young and growing family, and Alex likes to spend most of his time in sunny Spain enjoying his love for road cycling or even hiking in the Tramuntana mountain ranges.
View all episodes
By Alex MannockMeet Tokeet Channel Manager, your ultimate all-in-one property management solution. It’s the game changer designed to boost your profits while simplifying every aspect of your operations. Join 60,000 rentals across 95 countries who trust Tokeet. Click below and discover Tokeet - the business partner you never knew you were missing!
Link: https://www.tokeet.com/?ref=ztfjzgj
THE AIRBNB CONSULTANT - CONTACT US
https://calendly.com/airbnbconsultant/15min
For this episode of the Airbnb Nomads toolbox, Alex explains how to maximise your booking occupancy levels and profits by using Pricelabs to help you manage your Airbnb calendar effectively. Too many SA owners take short bookings too far out, which often leads to them missing out on potential long bookings or are not upping their rates during high-demand periods e.g. local events.
The step-by-step walkthrough of PriceLabs settings and advice Alex shares in this episode are vitally important for all serviced accommodation landlords. It will help you to keep your property full with the type of guests that make you the most profit.
KEY TAKEAWAYS
-
Most hosts are currently not optimising their Airbnb booking calendars effectively, so are leaving money on the table.
-
You should not be simply setting a rate, walking away and allowing every single customer to book at that rate, regardless of demand or whether events are taking place in your area.
-
If you allow people to book just 2 nights months in advance when someone else wants a 4-week-long booking during that same period you miss out on big profits. You only get paid for 2 nights instead of 28.
-
Using dynamic pricing software like PriceLabs enables you to control minimum stay lengths.
-
When set up properly PriceLabs will put your prices up at historically busy times of the year and do so on autopilot.
-
To get the most out of software like PriceLabs you have to understand your customer avatar e.g. how far out they are likely to book.
-
Closing your calendar after 90+ days out reduces the chances of a customer cancelling on you.
BEST MOMENTS
“This is really important, and to be quite honest, I was quite shocked to find out just how many people on optimizing their calendars. ”
“The goal is the same. It's to fill your calendar with the right booking so not only keep your property occupied but most importantly, they also bring in the most profit ”
“We found a balance between filling our calendar with both short and long stays, while also prioritizing much longer bookings.”
“You can customize your settings based on your own guest avatar.”
“The great thing about Price Labs is that it's so flexible. There are so many things you can do.”
EPISODE RESOURCES
https://hello.pricelabs.co/
HOST BIOS
Alex & Pooh have built a portfolio of over 16 Serviced Accommodation Units and 10 Buy-To-Lets collectively over the last 5 years.
This AirBnB Business has allowed each of them to create their own tailor-made ‘lifestyle by design.’
Pooh chose to escape the corporate life as an electrical engineer instead to spend his time at home with his young and growing family, and Alex likes to spend most of his time in sunny Spain enjoying his love for road cycling or even hiking in the Tramuntana mountain ranges.