In this video: Adding prices (seasonal and default), editing prices and setting pricing preferences.
What do you consider when setting prices for a stay at your holiday rental? Rowena, who owns and runs a holiday home in Cyprus, tells us about how she’s already setting her prices for the 2015 season.
When you factor in the mortgage, maintenance fees, management fees, cleaning and laundry charges, plus electricity and water bills, it can sometimes be difficult to break even and make money from your holiday home. So it’s crucial to set a price that will cover your costs.
Need to know how to add extra photos? Update your calendar? Send a quote? Well, you’ve come to the right place. We’ll be adding new video guides all the time so keep checking back.
Responding to enquiries with a quote
Setting and updating prices
How much will it cost? Alongside ‘Where is it?’ it’s the burning question guests ask when they’re booking a holiday.
So do guests get the answer when they click Prices on your ad? If they don’t you’re wasting their time and yours. But most of all, you’re losing out on bookings and revenue.
With online booking guests can query the price by entering their holiday dates and number of guests. However some guests will look at your table of prices if they’re not quite ready to book so it’s still important for the prices to be crystal clear.
An easy way of attracting more family bookings for your holiday let is to arrange the price bands on your calendar by the school holiday dates for 2014 & 2015.
Most travellers can relate to school holiday dates – whether they’re families booking for when the kids are off school or other travellers, like couples or groups of friends, wanting to get away when the roads and resorts are not as busy.
The school holiday dates below are the combined holiday dates for schools in England, Wales and Scotland and can be used as a guide for your price bands. For example, use them to determine when your Easter price band should start and finish, or when your peak summer season should begin.
Travellers looking for breaks in the Canaries and Balearics this year could be more likely to book a holiday home after hotels hiked up their prices by up to 12%.
A new study by Trivago has revealed that hotels on the Canary and Balearic islands have increased their nightly rates by 12% and 11% respectively. The rise makes the average price of a night’s stay on the Canaries €122 and the Balearics €113.
The Canaries and Balearics benefit from all-year-round popularity because of their milder winter temperatures compared with the rest of Spain. However the price hike still comes at a time when the rest of debt-ridden Spain is seeing hotel rates either stagnate or fall.
How much does it cost? This is one of the most important questions in the holidaymaker’s mind when they’re looking to book. So if you accept short breaks, make sure both your weekly and nightly prices are always up to date.
This is especially important if your home is bookable online: if holidaymakers are searching by date and your nightly prices haven’t been entered for the dates the guest is looking for, they won’t be able to send you a booking request and will have to email you first. Keeping everything up to date as far in advance as possible simply speeds up the booking process for you and your guests.
Draw holidaymakers to your advert and boost bookings with these simple tips:
- Pick great pictures. Your first photo should be the best as it appears next to your home summary text in the search results page – this picture has the power to draw holidaymakers to your advert. Pictures of unique selling points such as a pool, roof terrace or sea view work well, but keep it relevant to your home: those sea views will look much more appealing if your garden is also in shot.
Do your research. Checking out other holiday homes in your area is a good place to start. Check that you’re not pricing yourself out of the market, but also not selling yourself short. Use the search filters to find properties with similar facilities in your area. If you have a pool, for example, you can expect to charge higher rates than homes without. Get to know the market and make sure you’re always competitively priced.