Try this simple strategy to boost your holiday rental occupancy this summer

Summer is the peak season for holiday rentals in many regions of the United Kingdom. While the booking pace is increasing, many property managers and hosts still face the challenge of optimising reservations this summer season.

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If you’re struggling to maximise bookings and occupancy this summer, we have a simple tip for you to try: optimising your length of stay (LoS) strategy. This can help you increase bookings, strategically manage gaps between bookings on your calendar, and maximise revenue.

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4 days is the length of stay average in the UK for Summer 2024

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One effective strategy for maximising occupancy and revenue is optimising the required length of stay based on guests' preferences. When you know your guests’ preferences, optimising the required length of stay can be a powerful tool in maximising occupancy and revenue. For instance, requiring longer stays during summertime can reduce the number of unbooked nights between reservations.

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By analysing past booking patterns and understanding the typical duration guests prefer, hosts and property managers can set minimum stay requirements that align with these trends. Additionally, longer stays often attract more serious travellers who are less likely to cancel, leading to more stable and predictable income. Implementing flexible check-in and check-out policies can also make it easier to accommodate longer stays and fill gaps in the booking calendar.  

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Let’s analyse some best practices to optimise your length of stay and price your gaps accordingly to help you make the most of this summer season!

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1. Set Minimum and Maximum Stay Requirements

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One of the simplest ways to manage LoS is by setting minimum and maximum stay requirements:

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Tips for Minimum Stay Requirements

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• Weekend Stays: During weekends, consider setting a minimum stay requirement of two or three nights. This strategy helps prevent single-night bookings that leave gaps before or after the weekend.

• Peak Season: During high-demand periods, such as summer holidays or local events, increase the minimum stay requirement to capture longer bookings and ensure higher occupancy.

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Tips for Maximum Stay Requirements

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• Preventing Long Vacancies: Setting a maximum stay limit can also be beneficial, especially if you want to ensure availability for peak dates or high-demand periods.

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⭐ To avoid gaps, Beyond automatically sets the minimum stays between the bookings.

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2. Implement Gap Night Strategies

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Gap night strategies specifically target those single days between bookings that are hard to fill:

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Examples:

• Discounted Gap Nights: Offer significant discounts for bookings that fill in these gaps. A lower rate for one night can be better than leaving the property vacant.
• Promotions and Specials: Create promotional offers that highlight gap nights. For instance, “Book two nights and get the third night free” can help fill those awkward single-day vacancies.

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3. Adjust Your Calendar with Your Guests' Preferences

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Regularly reviewing and adjusting your calendar can help you identify and respond to booking patterns effectively. For that, understanding your market is essential.

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Pro Tips:

• Monitor Booking Trends: Keep an eye on when gaps typically occur and adjust your LoS rules accordingly.
• Flexibility: Be willing to change minimum stay requirements dynamically based on current occupancy rates. For example, if you notice midweek gaps, you might temporarily lower the minimum stay requirement.
• Research Local Trends: Study guest preferences and upcoming events that might affect demand patterns.

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4. Communicate Clearly with Guests

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Clear communication can prevent misunderstandings and encourage compliance with your LoS policies:

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Best Practices:

• Detailed Listings: Clearly state your minimum and maximum stay requirements in your property listings.
• Direct Communication: Once a booking is made, communicate directly with guests to confirm their stay duration and any related policies.

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5. Use Dynamic Pricing

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Leverage dynamic pricing tools to adjust your rates based on real-time demand, competition, and market trends. This will help you stay competitive and attract more bookings even when demand is lower. By coupling dynamic pricing with LoS restrictions, you can incentivise longer stays and fill gaps between shorter bookings.

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How It Works:

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• Lower Rates for Longer Stays: Offer discounts for longer stays to encourage guests to book more nights. For example, provide a 10% discount for stays of seven nights or more.
• Premium Pricing for Shorter Stays: Charge a premium for shorter stays during high-demand periods to maximise revenue and discourage short bookings that create gaps.

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Strategic adjustments in your revenue strategies and a keen understanding of guest behaviour can drive impressive results this summer season. By leveraging the right tools and techniques, short-term rental hosts and property managers can make a very positive Summer 2024.

Property managers using Search Powered Pricing (SPP) from Beyond notice that their bookings influenced by SPP tend to have stays that are 11.6% longer compared to those who don't use SPP. These higher rates and longer stays all add up to more revenue: SPP users usually see a +3% increase in RevPAN. Ready to optimise your short-term rental performance? Reach out today!

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