New Properties, Pricing and Reviews
- natalie86712
- Nov 10, 2024
- 1 min read
When your property is in the early stages of going live, securing positive guest reviews and feedback is crucial. These reviews can directly influence the nightly rate you can set and the number of bookings you receive, making them a key factor in your property's success.
—> As your review score goes up, so does guest's confidence in booking your place and your ability to charge more.
Here is an example of one of our properties that recently went live. After pricing lower initially to get bookings (and reviews) in, we now have eight 5-star reviews. Not only have bookings increased, but we are now in a position to charge more coming into peak season.
There are some simple steps which can help before going live:
1) Do your research to understand pricing in the local market and price accordingly, accounting for any unique features of your property and ensure your prices are maximized for peak season
2) High-quality photos can make a massive difference to the nightly rate you can charge, and professional shots are well worth the investment. Make sure your place looks great upon going live!
3) Be competitive with the initial nightly rate you charge, but keep your peak (summer) prices higher. You can also consider a "New Booker” discount and if feasible, reduce your minimum nightly stay initially to build some reviews.
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