It is already Autumn and it is very important to be prepared for the low season. With the pandemic, tourism has undergone some changes, but it is undeniable that summer is still the season of choice for tourists. Therefore, during the colder months, the essential thing is to look for solutions to increase the profitability of your short-term rental.
That’s why we talked to LovelyStay’s Revenue Manager, Arthur Lepoutre, to get some tips on strategies to help you monetize your property even in the off-season. Want to know more? Be sure to read on!
We recently reported on LovelyStay’s success in the months of June, July, and August. Read the article published on our blog through the link.
LovelyStay – The off-season is coming. What is a viable solution to make properties profitable this time of year?
Arthur Lepoutre – At LovelyStay we will apply a hybrid strategy. On one hand, we will maximize industry trends and boost mid-stays through various platforms, such as Airbnb, Idealista, and OLX, with high monthly prices. On the other hand, we will continue to work with short-term bookings, following market trends and working with competitive prices.
LS – How is LovelyStay preparing for the low season?
AL – The mid-stay strategy is already in place and the Lovelystay team is already working on specific client requests. However, this strategy is not yet the priority, because we can still see strong trends for tourism in the future, and we hope it will continue that way.
LS – Are there already prospects for tourism in the winter? If so, what are they (vaccination and the lifting of restrictions can directly influence tourists’ decision to travel)?
AL – The tourism prospects for the Winter seem positive, and vaccination, in addition to the lifting of the restrictions, is one of the main causes. Between August and September, Portugal has already managed to maintain a level of touristic activity matching 65% of the 2019 activity. By the end of the year, we expect to approach 75% of the activity of the last pre-pandemic year.
LS – Can the fact that the borders are open with other countries such as, for example, Brazil and the USA help tourism even in the low season?
AL – It helps a lot! The demand from Americans has increased, reaching 7% of our total bookings. However, the recovery of Brazilian tourism is slower, but we hope that they can still enjoy their end-of-year vacations in Portugal.
This year, the main nationalities of tourists are French, Portuguese, Spanish, German, and English.
LS – What tips do you give to those who want to make their property profitable even in the low season?
AL – The hybrid strategy, maximizing short-term bookings according to the market and at the same time choosing to accept medium-term bookings has already worked very well in tougher times over the pandemic. So it can be an excellent option to monetize your accommodation in the low season.
Certainly, a short-term rental management company is an ideal option to increase the profitability of your short-term rental. If you want to know more information, contact us by email: firstname.lastname@example.org.
Translated by Miguel Marinho Soares