Occupancy

[Margo402]

Hi,

we haven’t had any guests and I reduced the price. Welcome your insights. Thank you. 

[Bettye6]

Hi @Margo402 

It seems there is a slow side going on to most of us but a new year with new adventures is coming! Your concerns are quite common if that helps at all. 
Ask the community to critique your listing. You will easily find the how to in search & hopefully gain some insights. 
Bettye6

[Alicia753 · Accepted solution]

Hi @Margo402 you may experience reduced to low bookings, but there are several strategies you may still consider to improve your bookings. Make sure your listing title is appealing and highlights key features of your property. Invest in professional photography. High-quality, well-lit photos showcasing the best features of your property can make a significant difference. 

Regularly check the prices of similar properties in your area to ensure your rates are competitive. Consider using dynamic pricing tools that automatically adjust your rates based on demand and seasonality. 

Offering a flexible cancellation policy can make your listing more attractive to potential guests. Adjust your minimum stay requirements based on demand and season. Hope this helps! 🙂 

[Scott1957]

Hello Margo, 

I am new and having a similar issue. I

Keel lowering my price and have been told to be patient. I wish you the best with your property in 2024

[Helen3]

@Margo402  @Scott1957 

I think many hosts miss out a vital step when setting up their STR business - and that's not to do any market research around supply and demand.

many areas are suffering from oversaturated markets coupled with falling demand so if you haven't done so already I would start by looking at Airdna for your locations.

also look at what the low and high seasons are for your location.

it's likely that unless your pricing is completely out of kilter that lowering your pricing will make little difference .

have a look at your listing - have you written the copy with your target guests firmly in mind and ensure your listing has amenities these target guests want and need

do your photos help you stand out from your competitors?

are you listing on all relevant STR platforms .

personally I wouldn't offer a flexible cancellation policy or encourage one night stays - in my experience it can just lead to last minute cancellations.

@Margo402  I would suggest looking at how you can dress your rooms - they look rather bare - then retake your photos. For example a table and chairs on your decking set up for eating will help people imagine themselves being there.