Accurately modelling customer behaviour and knowing what guests are looking for has been challenging for all businesses over the last few years, no matter their size. We constantly monitor the latest trends and assess our own guest data to ensure you’re informed on how the industry is changing and how you can take advantage of any shift in patterns. Here, our Revenue and Performance Manager, Kelly Oh, lists some tips, stats and facts to help you get more bookings and improve your profitability.

Flexibility and two-night stays

When demand is high, it makes sense to keep higher rates and stick to set changeover days in order to maximise bookings and revenue, by not missing out on any nights in between bookings. However, when demand shifts we see more requests for flexibility, particularly in the form of two-night stays with a check-in day of the guest’s choosing.

As an alternative to offering discounts, opening up shorter breaks to bookable online as standard makes holidays more affordable to guests, as well as providing the flexibility they’re looking for and allowing them to book instantly.

You should also consider removing supplementary charges for shorter stays. Historically, these haven’t performed well and we’d advise opening up shorter breaks at pro-rata rates.

Last minute stays vs the occasions market

Our average lead time is normalising to pre-pandemic levels, with our prime booking window settling at around 35-90 days before the stay. It’s natural to check your availability for the month ahead, but you should look a month beyond this too.

If you’ve missed this 35-90-day window, then you need to act quickly, and make bold decisions on your pricing and changeover day structure.

One notable exception to the normal booking window is guests booking for celebrations or special occasions. This is one of the most common reasons guests book with us, and they tend to book these stays well in advance. It’s important to think beyond the current year and consider opening up 2 or 3 years’ worth of availability, to allow guests to plan.

Pricing review

If your space is performing well during low season (50% occupancy or more), and booked out far in advance, then check if your price point is still right. You may be able to push for more in your mid and high seasons. Equally, if you’re not achieving your desired occupancy, it could be worth reviewing your rates throughout the seasons. Sometimes small tweaks can make a big difference to bookings.

For example, if your weekends are flying, but you’re struggling to sell your midweek stays, then perhaps you could increase the former and bring down the latter. Even just £5 per night can help. Alternatively, use incentives or booking rules to steer guests towards three-night weekends over two nights.

Be mindful that if one or two guests are suggesting your place is priced too cheaply (which of course, can be very subjective), it’s important to look at your availability overall and listen to the data.

We offer bespoke consultation for pricing reviews, so just get in touch if you'd like any advice!

Utilise special offers wisely

If special offers are used wisely, it can boost your occupancy when it’s needed.

We have recorded over 500+ special offers so far this year, but not all of them have been successful. One third of our UK spaces have used one or multiple special offers throughout the year and mostly generated a booking or two, but 36.5% of them did not generate a single one.

Most special offers were valid for an average 34 days, however special offers which generated 5+ bookings were on for an average 53 days, which is in line with our prime booking window. The most effective special offer was a simple discount of 15-20%.

Offers are great tool for a last-minute occupancy boost, but If you find yourself constantly using them, we’d advise a full pricing review. At the end of the day, customers are looking for the right price point (given your quality of space, seasonality & booking window), and our data shows that placing a special offer does not necessarily increase place page view or conversion rate.

Added value & Experience

The experiences and added value your space offers shouldn’t be overlooked. It can be a massive factor in a guest’s decision to book. What standout features are available to guests staying with you? Imagine you are a guest - would you say it’s good value for money?

In terms of added value, consider how you’re making guests feel when they walk into your space. Personalised welcome cards, congratulations if it’s a special occasion, homemade cakes, or handpicked flowers all add value, show how much you care and set you apart.

For ideas on improving your guest experience , you can read our top tips on exceeding guests' expectations here.

And finally...

Remember that whatever challenges you’re facing or question you have, we’re right here to talk them over. We have specialists in our team on guest satisfaction, pricing analytics and all kinds of data analysis, so get in touch to talk rates, date and opportunities whenever you need to. You can get in touch with your Account Manager on 0117 204 7857 or by emailing owners@canopyandstars.co.uk.