Managing a holiday let is rewarding – but it can also feel like a full-time job. Between guest inquiries, turnovers, and marketing, who has the time to manually tweak prices every day?
Thankfully, there is a simple solution for time-poor hosts. By utilising a dynamic pricing tool like Beyond, you can track guest demand from multiple sources and ensure you hit the sweet spot when it comes to setting the correct nightly rates.
Smart revenue management like Beyond is essential tech for holiday let owners – whether you manage one property or hundreds. And with the right strategies, you can maximise earnings without adding extra hours to your day.
Here are five game-changing revenue management tips for busy holiday let hosts:
1. Use a dynamic pricing tool
Manually setting prices is old-school – the days of having a summer rate and winter rate are long gone. Meanwhile, built-in tools like Airbnb Smart Pricing often miss the mark by either lifting prices too high or dropping them too low.
Smart hosts use dynamic pricing tools like Beyond to automatically adjust rates based on real-time market trends. Beyond tech can even help owners to increase revenue by a whopping 35%. Imagine that!
Why it works: Beyond tracks official data from the world’s biggest booking platforms, including Airbnb and Booking.com, to ensure your rentals are priced according to demand and seasonal trends.
Quick win: start using a dynamic pricing tool. Click here to give Beyond a try.
Try this: Simply start by setting a base rate, minimum price limits, and other customisations to get going with Beyond.
2. Use bright, professional-quality photos
Did you know that Airbnb and other platforms prioritise updated listings in search results? Even a small tweak, like updating your photos, can boost your visibility.
Why it works: Booking platforms will judge your entire rental on the quality of the photos. Dimly lit photos taken on a phone will push you down the rankings. Make sure your images are bright and taken by a professional photographer.
Quick win: The first photo in your listing should ideally showcase your rental’s most positive traits, including the best amenities it provides. Try using your most appealing photo first.
Try this: Swap out seasonal photos (beach shots in summer, cozy fireplace scenes in winter) to attract more bookings.
3. Get access to the best data
Relying on gut instinct to set prices? That’s leaving money on the table. Instead, use data-driven insights to stay ahead of demand shifts.
Why it works: hosts who use advanced pricing insights increase revenue by 9% on average. When you think about this, it’s common sense. The more data you have, the more accurately you can set rates according to demand, the season, and competition.
Quick win: Automate your pricing strategy with Beyond’s real-time data tracking and market intelligence.
Try this: Activate seasonal pricing rules so your rates automatically adjust for peak demand periods.
4. Update your listing description
Booking platforms reward hosts who keep their listings fresh. By updating the title and mentioning nearby events in your content, you’ll get an SEO boost and appear on the first page of relevant guest searches.
Why it works: The likes of Airbnb and Booking.com prioritise active listings that are committed to achieving more reservations.
Quick win: Is your region hosting a big concert or festival? If so, mention the band, singer, or event in your headline or description. It will help attendees to easily find your rental.
Try this: Make a note to update your content regularly – ideally once a month.
5. Make every night available – even at a premium
Listing platforms love properties which are always available to book. You might have a three-night minimum stay, but one or two nights available between reservations. With your minimum stay parameters, those dates will not appear in guest searches. The hack is to make them available at double or even triple the normal rate. The online travel agencies (OTAs) will reward the extra availability, plus you get extra points for offering ‘lower’ rates the rest of the time.
Why it works: Your rental is more likely to appear in guest searches.
Quick win: Check your calendar for any ‘widow’ nights and make them available – even at a premium rate.
Try this: If you do make the nights available, make sure your team is aware – because if you do get a booking, they will have to deal with the guests. The extra revenue will make it worth it though!
Final takeaway: work smarter, not harder
Managing a holiday let doesn’t have to be time-consuming. With the right tech, processes, and automation, it can be a hands-off investment.
By using smart pricing tools like Beyond, you can increase revenue, save time, and stay competitive. Ready to earn more with less effort? Try Beyond today!
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