How can I increase the likelihood of my listings receiving more bookings?
Surely you have wondered why one or more of your listings are not getting the bookings you expect, or you have seen that other similar listings in your area are performing better than yours. You have dynamic pricing and the pictures of the listing all look good. What are you missing?
The answer to this question, as you can imagine, is not simple, nor does it depend on a single factor, nor is there a secret recipe.
However, from Hostaway, as experts in the industry, we can give you some tips that could improve the performance of your listings on different channels.
Several factors can affect the receipt of reservations, ranging from pricing and location to guest experience and property management.
By understanding and optimizing these factors, you can attract more bookings and increase guest satisfaction.
Here are some key factors:
- Pricing Strategy
- Competitive Pricing. Pricing listings too high compared to similar properties can discourage bookings, while underpricing can result in lower revenue
- Seasonal Pricing. Adjusting rates based on demand during peak seasons, holidays, or local events can optimize occupancy
- Discounts & Offers. Offering discounts for longer stays or early bird deals can attract more reservations
- Location
- Proximity to Attractions. Listings near popular tourist spots, business districts, or transportation hubs tend to receive more bookings
- Neighborhood Appeal. Safe, vibrant neighborhoods with access to amenities such as restaurants, shops, and parks are more attractive to guests
- Property Features & Amenities
- High-Quality Photos. Professional and accurate photos can have a significant impact on a guest's first impression
- Amenities. Amenities such as fast Wi-Fi, a fully equipped kitchen, air conditioning, or even luxury features (pool, hot tub) influence booking decisions
- Unique or Niche Properties. Unique stays (tiny homes, treehouses, etc.) or properties with a distinctive design appeal to specific guests
- Guest Reviews & Ratings
- Positive Reviews. Properties with high ratings and numerous positive reviews are more likely to be booked because they signal trust and quality
- Responsive Hosts. Hosts who promptly address guest concerns or requests tend to get better reviews and repeat bookings
- Booking Flexibility
- Flexible Cancellation Policies. Listings with more flexible cancellation policies may appeal to guests who are uncertain about their travel plans
- Instant Book. Enabling "Instant Book" can increase reservations as it reduces friction for potential guests
- Host Communication & Responsiveness
- Quick Responses: Hosts who are responsive to inquiries and provide clear communication build trust and are more likely to secure reservations
- Helpful Descriptions: Detailed property descriptions that accurately represent the space help set expectations and prevent negative surprises
- Listing Ranking on OTA's
- Search Visibility. Properties that rank higher in OTA's search results get more exposure. Factors like response rate, reviews, and booking history can impact this ranking
- Updated Listings. Regular updates to the listing, such as updating photos or descriptions, can help maintain high search rankings
- Seasonality & Local Events
- Peak Travel Seasons: Certain times of the year, such as summer or holidays, typically see higher demand. Understanding these patterns can help optimize pricing and availability
- Local Events: Festivals, concerts, or conventions can drive up local demand and impact occupancy rates
- Global Trends & External Factors
- Travel Restrictions: Factors such as government travel restrictions or global events (e.g., pandemics, economic downturns) can impact reservations
- Changing Travel Preferences: Trends such as remote working or extended stays have increased demand for properties that cater to long-term travelers