Sunday 12 March, the VRMA European Conference took place in Amsterdam. We kicked-off the conference in style by hosting a welcome party together with HomeAway. During the two day conference, we came across several talks and Andrew Martyn from your.rentals blogged on some of the trends Property Managers need to keep in mind, that we would also like to share with you:
- Instant bookings
Guests are booking via OTAs more and more. They are used to book instantly via an OTA and don’t want to wait a couple of days to find out whether or not an accommodation is available. A Channel Manager Partner like NextPax can make sure your availability is accurate via all channels. Responding to manual inquiries is now redundant, as the booking is sent directly to your PMS and this avoids the risk of losing bookings because your offer wasn’t received in a timely manner.
- Last minute bookings
Another trend arising with the shift to OTAs is that the amount of last minute bookings is increasing, and shorter length of stays are being booked. With a solid pricing and discount strategy, you can meet the needs of guests looking for a last minute offer. Being less strict with booking rules and minimum stay outside peak season can also help to increase conversion; more flexible availability will make your accommodation more visible. NextPax provides an incredibly flexible pricing and discount system; set any price for any type of period.
- Enough demand
The hotel branch doesn’t seem to be losing bookings yet to the rise of the vacation rental industry, which shows there is still enough demand. A key take-away in this case is to differentiate your properties from others, focus on the competitive advantages and make sure your distribution is strong.
- Operational control
With a higher demand and more guests coming in via OTAs, you need to make sure your accommodations are ready for a higher demand. Be sure you can handle realtime availability, because this results in having more time to spend on the service and product.