Mark SimpsonHelping short-term rental hosts get the tools, tactics and training to grow direct bookings with confidence

Profit in Peak Season: Strategies for High Demand Str

1 Apr 2024 · 1 min

Watch on YouTube

0:41

A short YouTube presentation (by Mark Simpson) about maximizing profits during hospitality peak seasons. The speaker recommends raising and holding prices when inventory is tight, being willing to be the last booked property to extract high rates, and monitoring booking pace so you can detect a weaker-than-normal peak and reduce prices if necessary. The emphasis is on tactical price and inventory pacing decisions to capture outsized revenue during true high demand.

Chapters

Peak season. If you're the part of the world that gets completely booked in peak season and there's no inventory left because everybody's coming to you, this is a great thing to be and you can raise your prices more than your competitors and not get any bookings and continue to hold your prices until very last minute. And what'll happen is there'll be you, there'll be a couple other hotels that are really nasty, but there'll be nothing left. And commonly people will be forced to pay your price. You do need to manage your pace, like we talked about, to know if you're actually having a weaker peak season than normal. Because at one point you might still need to drop your prices to get booked. But in peak season, you're more often can hold a really strong price, be the last person booked, and make a king's ransom.