If maximizing your vacation rental income is on your radar for 2024, you’ve picked a good time. Revenue in the vacation rental market is set to hit almost $106 billion by 2026 and the average revenue per guest is predicted to reach $117 in the next three years!
Sources: Hostfully
The more properties you have, the bigger the management challenges become. Of course, you have to invest to grow. Here is a list of a few fool-proof ideas to do just that:
Achieve multi-channel distribution | The more booking channels you list on, the better. This will increase your reach and get your listings in front of more potential guests.
Create a direct booking website | This is a great way to maximize revenue as you sidestep OTA fees.
Optimize your online presense | Building a strong online brand can help boost revenue. Personalize your direct booking website with brand colors, fonts, and photos.
Leverage upsell opportunities | Make their stay more enjoyable or convenient, plus earn extra income from every stay!
Curious about the possibilities for your own rental home?
Call 518-734-6700 to speak with Liz about exploring them, or book your free Q+A call below:
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