Local events are great travel excuses and can become a gold mine for property managers. Even if your vacation home isn’t in the heart of action, national and local events can still greatly impact your short-term rental business. If you know how to take advantage of them, this is your chance to get fully booked and boost revenue.
Recent Airbnb statistics around Taylor Swift’s European concerts reveal that American guests account for nearly a third of European bookings, raising over $77 million in estimated economic impact. Moreover, the remaining North American dates of her tour are experiencing over a 1,300% surge in searches on the platform.
Understanding how to prepare and market your rental during such high-demand periods is vital as a property owner.
What are the benefits of local events for vacation rentals?
Vacation rental local events come with significant perks for property owners. Here are the most important ones:
- Increased demand and occupancy rates: Local events draw millions of visitors from around the globe in need of accommodation. This surge can lead to higher booking rates and reduced vacancy periods for vacation rental managers.
- Higher revenue: During the peak event season, vacation rental prices tend to increase. Event-goers are often willing to pay a premium for convenient, well-located accommodations, thus generating more revenue for hosts.
- Enhanced visibility: Prominent events attract local, national, and even international attention. This is your chance to reach a broader audience and build a name for yourself in the vacation rental industry.
- Repeat guests: Providing an excellent guest experience during major events can lead to repeat bookings. Satisfied guests will likely return for future events or vacations and may recommend your property to others.
- Boosted local economy: During local events, the whole local ecosystem flourishes. Collaborating with businesses can foster community goodwill and contribute to the local economy.
7 Tips to capitalize on local events
1. Plan out your calendar
First things first. To prepare for local events, you need to be aware of them. Research and list all major events throughout the year. This includes festivals, sports events, conventions, national days, and other significant gatherings. Having a detailed calendar allows you to prepare well in advance in terms of marketing and operations.
Check local tourism websites and community boards regularly to stay informed about upcoming events. We also recommend blocking off major event dates on your calendar. This helps avoid overbooking and allows you to implement special pricing and marketing strategies.
2. Use smart pricing
Implementing a dynamic pricing strategy throughout the year is the cornerstone of a successful short-term rental business. Dynamic pricing strategies can also help you optimize rental income during peak event times. Smart pricing software like PriceLabs can help you adjust your rates based on demand, competition, and property characteristics.
You should also monitor what similar rentals charge during major events and adjust your rates accordingly. The goal is to remain competitive without leaving money on the table. Consider setting minimum stay requirements during high-demand periods to ensure longer bookings and reduce turnover.
3. Leverage digital marketing
Digital marketing is your best ally during vacation rental local events and can significantly boost your property’s appeal. Use platforms like Instagram, Facebook, and TikTok to share engaging content related to the event, including local attractions and special offers. Make sure you highlight your property as the perfect place to stay in the heart of things.
You can also send targeted emails to previous guests and potential customers, informing them about upcoming events and your availability. Make sure your website is always optimized with event-related keywords and dedicated banners leading up to the event. Blog posts are a stellar way to attract organic traffic and boost your rankings during peak event seasons. Alternatively, leverage paid advertising like Google ads or social media campaigns to target people searching for accommodation near the venue.
4. Use a PMS for vacation rental management
With vacation rental local events, things can get out of hand quickly. Juggling bookings, guest communication, and property maintenance, all with a fast guest turnover, can be chaotic. This is where a property management system (PMS) and channel manager like Hosthub comes into the frame to streamline operations on your behalf. Use it to adjust prices across all channels and reduce the risk of double bookings.
Property management services help you manage all your listings from a single platform, whether on Airbnb, Vrbo, or your website. At the same time, you can use automated messaging from a unified inbox to keep guests informed about the event and your property. When the event is over, you’ll be able to track your performance, occupancy rates, and revenue. Win-win.
5. Enhance your property’s appeal
Making your property attractive is key to standing out from the competition, especially during high-demand periods. Invest in high-quality photos that showcase your rental’s features, and consider offering virtual tours for a more immersive experience. You can also place event-themed decorations or seasonal touches to make your property more inviting and relevant to the occasion.
Ensure your vacation rental is well-equipped with essential amenities like Wi-Fi, comfortable bedding, and kitchen facilities. If you have any unique features like a fireplace or scenic views, make sure to highlight them. Finally, optimize your listings with relevant photos and descriptions and encourage past guests to leave positive reviews to improve your social proof.
6. Offer special packages or discounts
If you want to attract budget-conscious travelers, consider creating event-specific packages to make your property more attractive. For example, you can offer discounts for extended stays to encourage guests to stay for the whole duration of the event. Or you can create special offers for early bookers.
Another stellar idea is offering add-ons as part of a great vacation rental deal. For instance, offer to pick up guests from the airport, include complimentary breakfast during their stay, give them access to special amenities without extra charges, or enrich their stay with local tours. It’s the small touches that go a long way and can encourage guests to keep coming back.
7. Collaborate with local businesses
Partnering with local businesses can enhance the guest experience while also promoting your property. Negotiate exclusive deals with local restaurants, cafes, and shops. Visitors love exploring hidden gems where locals hang out, especially when they can get a great deal out of them. You can also work with local businesses to co-promote your property and their services.
This can include joint social media campaigns, bundled offers, and cross-promotions. For example, give your business cards to taxi drivers, collaborate with a local restaurant on Instagram, or create a bundle offer for a souvenir shop in your neighborhood. Not only will you increase your chances of a booked calendar, but you’ll also be supporting the local economy.
Get the most out of vacation rental local events with Hosthub
As a property owner, following up with trends and being able to forecast your busy rental periods will make it that much easier to plan for vacation rental local events. Leveraging peak event periods can be tedious, but the rewards are well worth it. With a PMS and channel manager like Hosthub, all that becomes easy. Say goodbye to spreadsheets and double bookings and welcome automation into your vacation rental management. Start a free 14-day trial or book a demo today!
