Inflation + less bookings

Tamara796
Level 2
Skopje, North Macedonia

Inflation + less bookings

Since the onset of inflation, the overnight prices have experienced an increase. I host in Skopje, the capital city of Macedonia, specifically in the Bohemian quarter where my listing is located. Previously, the prices in this district ranged from 20-25 euros. However, post-inflation, additional costs such as heightened bills, taxes, and cleaning fees have led to an upward shift, with prices now falling in the range of 30-35 euros.

Regrettably, the festive spirit seems to elude the city, lacking decorations and events during the winter months. This absence of attractions leaves my calendar empty for nearly three months, starting from November. I find myself pondering whether there's a hidden aspect about my listing deterring guests or if the entire neighborhood is unusually quiet. With only 1-2 short-term reservations monthly, my motivation is waning due to reduced earnings, prompting contemplation about withdrawing my listing and opting for regular local renting.

 

I wonder if others encounter a similar calendar gap during certain seasons? Is it commonplace for tourism in capital cities to experience lulls?

2 Replies 2
Mike-And-Jane0
Top Contributor
England, United Kingdom

@Tamara796 Too many hosts listed for short term rental as they saw big rewards post covid. With high inflation and a cost of living crisis in Europe (and elsewhere) some hosts tried to raise their prices to maintain a certain level of profitability.

The sad reality is that with high numbers of hosts and low numbers of guests the market has shrunk. Even if hosts price accordingly they may still lose bookings so a switch to regular long term bookings may well be the answer. Interestingly the rents achievable for LTR in the UK are way up as people HAVE to have somewhere to live whereas they don't have to go on vacation.

Thank you for clearing things out. Makes lot of sense