Introduction: Why Last-Minute Bookings Matter to Property Investors
In the world of serviced accommodation, last-minute bookings can be both a blessing and a challenge. While they fill up empty slots and increase occupancy rates, they also demand swift action and impeccable organisation. As an experienced property investor, understanding how to handle these bookings efficiently is crucial for maintaining high guest satisfaction and optimising your business’s profitability. In this blog, we’ll dive into essential tips and strategies for managing last-minute bookings on Online Travel Agencies (OTAs) like Airbnb and Booking.com, ensuring that your properties remain a top choice for spontaneous travellers.
Understanding the Importance of Last-Minute Bookings
The Role of OTAs in Last-Minute Bookings
Online Travel Agencies (OTAs) have transformed the way people book accommodations, particularly when it comes to last-minute arrangements. A report from Phocuswright highlights that nearly 50% of all bookings made on OTAs are for same-day or next-day stays. This statistic underscores the need for property investors to be prepared to handle these spur-of-the-moment reservations effectively.
The Benefits and Challenges
For property investors, last-minute bookings offer several advantages:
- Maximising Revenue: Unoccupied properties are a lost opportunity. Last-minute bookings help fill vacancies that would otherwise result in zero revenue.
- Reduced Lead Time: Shorter booking windows mean you can quickly assess and adjust pricing strategies based on demand.
However, these benefits come with challenges, such as managing operational logistics on short notice and ensuring that all guest needs are met promptly. The following tips will help you navigate these challenges and make the most of last-minute bookings.
1. Ensure Seamless Communication with Guests
a. Timely and Clear Messaging
When a last-minute booking is confirmed, time is of the essence. The first step is to ensure that all necessary information is communicated to the guest promptly. This includes sending a welcome message with check-in details, house rules, and any other relevant information. Automated messaging systems can be invaluable here, allowing you to send pre-written templates immediately after a booking is made.
💡 Pro Tip: Use automation tools like Guesty or YourWelcome to manage communication and ensure that no details are overlooked.
b. Confirm All Essential Details
It’s crucial to double-check that the guest has all the necessary information before they arrive. This includes:
- Check-In Instructions: Ensure the guest knows how to access the property, especially if the check-in is contactless. Include information on key codes, smart locks, or where to collect keys.
- Parking Information: If parking is available, provide clear instructions on where the guest should park, including any relevant charges or restrictions.
- Location and Directions: Include precise directions and the property address in the message. For international guests, consider adding a link to a Google Maps location pin.
c. Request an Estimated Time of Arrival (ETA)
For non-contactless check-ins, knowing the guest’s ETA is vital. This allows you to arrange for someone to be available to greet the guest or ensures that the property is ready when they arrive. Encourage guests to keep you updated on any changes to their arrival time.
2. Prepare Your Property for a Swift Turnaround
a. Coordinating with Cleaning Staff
A quick turnaround between bookings can be challenging, especially if your property was just occupied. Communicating with your cleaning staff is essential to ensure the property is ready for the next guest. Use scheduling tools like Properly or Breezeway to keep everyone on the same page regarding cleaning times and tasks.
💡 Pro Tip: Implement a checklist system for your cleaners to ensure that nothing is missed, even when time is tight. This should include restocking essentials, checking for damages, and ensuring all appliances are working.
b. Quality Control Checks
Even with a tight schedule, it’s important to conduct a final inspection to ensure everything is in order. This includes checking that all lights are working, the Wi-Fi is functioning, and that the property is clean and presentable. A well-prepared property leaves a positive impression and can lead to better reviews.
c. Stocking Essentials and Extras
Ensure that your property is well-stocked with essentials like toiletries, towels, and kitchen supplies. Consider adding a few extras, such as a welcome pack with snacks or beverages, to make the guest’s stay more enjoyable, especially when they’ve booked at the last minute.
3. Leverage Technology for Efficiency
a. Smart Home Technology
Investing in smart home technology can make managing last-minute bookings easier. Smart locks, thermostats, and lighting systems can all be controlled remotely, allowing you to ensure that the property is ready for guests without needing to be on-site.
b. Property Management Software
Property management software (PMS) is a must for handling multiple properties and bookings. Tools like Guesty, Lodgify, or Smoobu allow you to manage bookings, payments, and guest communication from a single platform, making it easier to handle last-minute reservations.
c. Dynamic Pricing Strategies
Dynamic pricing tools like Beyond Pricing or PriceLabs can help you adjust your rates in real-time based on demand. This is particularly useful for last-minute bookings, where you can optimise your pricing to attract spontaneous travellers without underselling your property.
4. Enhance the Guest Experience
a. Personalised Welcome
A personalised welcome message or small gesture can go a long way in making a guest feel valued, even when they’ve booked at the last minute. Consider leaving a handwritten note or a small gift, such as a local delicacy, to surprise and delight your guests.
b. 24/7 Support Availability
Offering 24/7 support can set your property apart, especially for last-minute bookings. Guests appreciate knowing they can reach someone if they encounter any issues, regardless of the time. If you cannot provide round-the-clock support yourself, consider outsourcing to a third-party service.
c. Local Recommendations
Provide your guests with recommendations for local attractions, restaurants, and activities. This is particularly useful for last-minute bookings, as these guests may not have had time to research the area. A digital guidebook or a simple list of suggestions can enhance their experience and make their stay more enjoyable.
5. Manage Expectations and Set Clear Policies
a. Clear Cancellation and Refund Policies
It’s important to have clear policies in place regarding cancellations, refunds, and any potential fees. Make sure these are clearly stated on your OTA listings and reiterated in your communication with the guest. This helps manage expectations and reduces the likelihood of disputes.
b. Check-In and Check-Out Flexibility
Where possible, offer flexibility with check-in and check-out times to accommodate last-minute bookings. This could mean allowing late check-outs if the property isn’t booked the following day or offering early check-ins if the property is ready. Flexibility can be a significant selling point for last-minute travellers.
6. Stay Ahead of the Competition
a. Keep Your Listings Up-to-Date
Regularly updating your OTA listings is crucial for staying competitive. Ensure that all photos, descriptions, and amenities accurately reflect what your property offers. Highlight any unique features or recent upgrades that might appeal to last-minute bookers.
b. Encourage Positive Reviews
Positive reviews are essential for maintaining a high ranking on OTAs, especially when dealing with last-minute bookings. Encourage satisfied guests to leave a review, and respond promptly to any negative feedback to show that you value guest satisfaction.
c. Monitor Competitors
Keep an eye on your competitors to see how they handle last-minute bookings. Are they offering discounts, special packages, or added perks? Understanding what others in your area are doing can help you refine your own strategies and stay competitive.
7. The Importance of Data and Feedback
a. Analysing Booking Trends
Utilise data analytics to track booking trends, including the frequency of last-minute bookings and which OTAs generate the most traffic. Understanding these patterns can help you optimise your pricing, availability, and marketing strategies.
b. Gathering Guest Feedback
After a guest’s stay, gather feedback to understand what went well and what could be improved. This is especially important for last-minute bookings, where a smooth experience is critical to securing positive reviews. Use this feedback to make any necessary adjustments to your processes.
Conclusion: Turning Last-Minute Bookings into Opportunities
Handling last-minute bookings on OTAs can be challenging, but with the right strategies in place, they can also be incredibly rewarding. By ensuring seamless communication, preparing your property efficiently, leveraging technology, and enhancing the guest experience, you can turn these bookings into opportunities for increased revenue and glowing reviews.
Remember, the key to success lies in preparation, flexibility, and a focus on delivering an exceptional guest experience, even on short notice. As a seasoned property investor, mastering these aspects will help you stay ahead of the competition and build a thriving serviced accommodation business.
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