Thursday, December 17, 2009

Ideas to Increase Revenue

1. Price reduction - often a simple price reduction can increase the yearly revenue on a property considerably (see details below).

2. Advertise to co-workers, friends, and relatives. For every referral you send us for your property, we will reduce the commission on that booking to 25% (28.5% discount).

3. Add amenities - ping pong tables, foosball, pool tables, TVs, DVD players

4. Update furnishings - It doesn’t have to be anything too expensive. Sometimes just new bed spreads and a fresh coat of paint can make a huge difference on how the photos of your property look online.


There are many ways to develop and maintain a successful vacation rental. Three key factors continue to be the most important elements to reach success. First, attractive, themed and contemporary rentals continue to rise and become top producers. They photograph well and those images are the primary factor that guests rely upon when booking their vacation. Second, pricing is very important, especially in this new economy. Some owners have opted to try a price reduction, some are offering a free 4th night (often through our “Hot Deals” program), and some are offering other goodies, such as pre-paid gift cards. Third, homes with additional special features, such as foosball, ping pong, pool, etc tend to do well because these options offer fun for a wide variety of ages.

Please take a close look at your property’s webpage and see how it compares with the competition. If you want to improve your bookings, consider how the furnishings, floor plan and pricing look against other homes in a similar bracket. We have helped improve bookings and revenue for many owners over the years and are here to help if you are interested. We can help you prioritize where you are likely to get the most “bang for the buck”.

Our goal has been to try and be responsive to the different reservation patterns that have been emerging. We continue to have a higher booking average over our competition, but, like with all things in life, there is room for continued improvement. As you see various options being offered, ask yourself if this is something you would like to try, in an effort to increase your bookings. We welcome your input and appreciate having your eyes on the webpage to make sure we are maximizing your potential for bookings. For web and photo requests, please contact Daniel Nikita at Daniel_nikita@msn.com.