In recent years, shorter booking windows have become the norm in the short-term rental (STR) industry. More travellers are booking last-minute stays, sometimes just days or even hours before check-in. While this trend started with the uncertainty of the pandemic, it has persisted due to factors like increased flexibility in remote work and the rise of spontaneous travel.
According to recent industry data, the percentage of bookings made within a week of check-in has risen by 30%. This shift requires hosts and property managers to adapt their strategies. Here are a few tips to stay ahead:
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Optimise Last-Minute Pricing: Offering dynamic pricing that adjusts based on demand can help capture those last-minute bookings.
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Flexible Policies: Consider more lenient cancellation and check-in policies, which appeal to spontaneous travellers.
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Be Ready for Fast Turnarounds: Ensure your cleaning and maintenance teams are equipped to handle quick turnovers between bookings.
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Leverage Social Media: Promote last-minute availability on platforms like Instagram and Facebook to attract travellers who are ready to book immediately.
By embracing shorter booking windows, STR owners can maintain high occupancy rates and maximise revenue in an increasingly spontaneous travel market.