Following the World Health Organization’s communication about the new pandemic caused by the coronavirus, we thought it would be a good time for you to hear from the team that takes care of your property and your guests on a daily basis.
The current crisis has already proven to be a challenge in the last few weeks and that challenge will most certainly get worse before it gets better. But it will get better. In the meantime, we are here to weather out this storm alongside you.
Here are some measures taken by LovelyStay to minimize the impact on you and your guests:
Our operations team has implemented new procedures which will ensure your guests are safe, as well as the team managing them, so that there are no disruptions in our support to you. These measures include, but are not limited to the wide distribution of information to all guests, the cleaning of all towels and linens at the highest possible temperatures, the sterilization of every set of keys before and after being used, the disinfection of surfaces with appropriate products from our cleaning suppliers, and avoiding the use of vacuum cleaners which could cause viral particles to become airborne.
Until the beginning of the current month, booking and cancellation levels were normal, but due to an increase in international fears and governmental restrictions, the demand has suddenly dropped significantly for April and cancellation numbers are growing. While aware that the next few weeks will be challenging, we are planning the following revenue management strategies to get you through:
– Aggressive pricing for the near future.
– Promotions for longer bookings.
– Adapting to flexible cancellation policies: it might seem counterintuitive but platforms like Airbnb are helping out owners who comply with the WHO’s guidelines by increasing their visibility and finding them new bookings. (More info here)
– Anticipating a return of demand by early May by monitoring the bookings pickup on a daily basis.
– Accepting and encouraging mid-length bookings to take place until high season, which can help minimize your exposure.
For the time being, we are keeping a close eye on the market and competition but we are not dropping our rates for high season. As soon as demand is back, we must be certain that we have correct pricing to meet it.
3. Going the extra mile
Now, more than ever, guests are opting for apartments which allow for self-check-in and which call for as little social interaction as possible. As such, LovelyStay has purchased a considerable amount of digital locks from NUKI (https://nuki.io/en/) which we are making available for purchase to all of our owners at competitive prices and we are also offering to install it for you. NUKI will not only increase your revenue by improving your SEO visibility, allowing for last-minute bookings as well as catering for more demanding guests, but it will also increase the safety level of your property by monitoring in real time who is going in and out of your apartment and changing the codes frequently.
In case you want to know more about prices, benefits or conditions, contact your account manager.
These next few weeks will be challenging and the most important thing is that we all focus on the collective and support one another in overcoming the critical phase of this pandemic fairly quickly. But there is no need to panic. LovelyStay is built in such a way that we can abide by social responsibility imperatives and still conduct our job normally. Most of our teams are capable and prepared to work remotely, our system allows for direct and easy access to information from anywhere in the world and all of our employees are geared up to talk and meet with you via phone or video calls.
We will keep you posted on new development and strategies and your LovelyStay team remains aware and ready at your beck and call.
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