Facilities that boost your occupancy rate
While many travelers are willing to book a stay that doesn't offer their favorite amenities, you're missing out on a lot of opportunities by not offering the same amenities as your competitors.
While Airbnb's amenity listings are different in each market, the broad geographic locations (urban, suburban, rural, coastal and mountain markets) are often similar. You should take the time to explore the best properties in your market to adjust your amenity offering where it makes the most sense.
For example, if your competitor's offering includes a gym, does it make financial sense to completely renovate your space to also include a gym? Probably not. On the other hand, if you see that the same competitor's offering is pet-friendly and it's paying off, you can make small changes to your amenity offering and pet policy to ensure a comparable stay and increase your occupancy rate.
You just need to know which equipment can improve your occupancy rate and which cannot.
Your pet-friendly accommodation
Whether guests are booking beachfront or city properties, one thing is clear: they want a place for their pets. Even during the COVID-19 pandemic, pet owners booked stays at Airbnbs around the world.
No matter what market you're in, it's probably a good idea to consider making your accommodation pet-friendly if it isn't already. Right now, more and more travelers are considering pet-friendly accommodations as an essential part of their vacation rental choices.
Jacuzzis, a bad idea?
For many travelers, hot tubs mean a relaxing getaway. Facilities with hot tubs are seeing an increase in daily rates, while mountain towns are seeing the biggest increase in occupancy.
It's important to remember that some equipment may seem easy to make money on, but it may not help you achieve some of your goals. While this type of equipment may increase your rates, this increase may not be enough to cover installation and maintenance costs.
In addition, we see a lot of costly damage when collecting deposits from our clients who have hot tubs in their properties. Sometimes the deposit does not cover the entire cost of repairs!
Are gyms just a fad?
In recent years, there has been a strong growth of gyms around the world. In addition, many hotels have invested massively in integrating these facilities into their offers. Thus, some vacation rental professionals have been inspired to propose a differentiating offer close to the hotel industry to their travelers.
Yet, properties with gyms have been observed to have lower occupancy rates, indicating that most travelers are probably not committed to their workout routines while traveling. Or, at least, not in their vacation rental.
However, these data must be qualified. If, in general, sports equipment does not seem to have a major impact, it depends on your target. Think about analyzing your market to study the attraction that these equipments could generate among your clientele. Don't hesitate to survey your past travelers!
Why isn't there an exhaustive list of accommodations?
Due to the standardization imposed by Airbnb, guests expect certain essentials such as bedding, towels, shampoo, soap and kitchenware. Of course, some guests settle for the basics, but they are increasingly rare. The basics are no longer enough.
While you should always make sure your facility has the standard amenities, it's important to offer pet-friendly stays, fireplaces and other exceptional amenities. The key is to offer a differentiating experience!
In the mountain and lakeside destination markets, for example, travelers will be delighted to discover a working fireplace in their accommodation. This translates into increased bookings and occupancy
This is true: guests probably want a comfortable place to relax after a day of skiing or other outdoor activities. A fireplace keeps the place warm while adding to its ambiance, and guests probably associate it with the mountain destination experience. But when we look at the impact of a fireplace on occupancy rates in cities, we see a drop in occupancy rates.
This is just one example, but it highlights the difficulty of defining a comprehensive list of amenities for your accommodations. That's why you should take the time to determine how adding new amenities can impact your bookings and your bottom line.
Checklist: Optimize your layouts
As a new host, it is essential to identify the best amenities to compete with other offerings in your market to attract more travelers. To do this, you need to optimize your list of amenities.
- Step 1: Analyze your market: Without knowing what equipment your competitors are offering, you are flying blind. Once you've explored the best properties in your market, compare them to yours to identify a list of direct competitors.
- Step 2: Explore your competitors' facilities: The real competitors in your market are those that offer comparable stays. Once you've identified them, take the time to focus on the amenities that successful properties offer and especially those they don't. You may discover an opportunity to offer amenities that your competitors do not have.
- Step 3: Determine which amenities fit your goals: Whether you want to increase your occupancy rate, your daily rate, or capture market share, you need to keep these goals in mind when adding amenities to your units
