IS YOUR MANAGEMENT COMPANY DEALING WITH THE HIGH SEASON PROPERLY ?

Aug 29, 2019 1:28:50 PM / by Aurore Augizeau

Is your management company dealing with the high season properly?

 

High season should considerably increase your revenue. You should make sure that the management of your apartment changes accordingly to not miss out on this ‘high-opportunity window’. In this article, we will give you some tips to make sure you make the most out of the high season and that everything runs smoothly.

 

Is your management company making the most out of your Barcelona's property during the summer?

 

High season is the best period for your Management Company to maximise your revenue. In Barcelona, June, July, and August are the three months that constitute the high season and, therefore, the demand for tourist accommodation is highest. Touristic apartments can make up to 40% of your yearly revenue during this period, hence the importance of making sure that your management company is doing a great job.


Questions you should ask your PMC!

The rise in demand makes it easier for property managers to fill up their calendars. However, it doesn’t make it easier to run the business during the summer. It is usually more stressful because of the increase in the number of bookings, and the highest expectations of the guests due to the higher prices they pay, which is great for your company!

To make sure the high season is handled correctly and maximising your profits, it is necessary to be efficient. Simplify the process as much as possible, whether that’s check-in and check-out, cleaning management or maintenance.

 

Automatisation of processes

To be more efficient, automate everything that can be automated. This is a necessity to avoid losing too much time in the busiest time of the year.

For example, you can simplify the check-ins by using smart locks in your accommodation. By opening doors remotely when the guests arrive at the apartment, you will be sure that their experience in your apartment starts well. 

Indeed, waiting for a check-in agent, or going to pick up the keys in another location is never a great way to start the holidays. Someone can then go and meet the guests once they are in the apartment to proceed with the check-in paperwork if this was not taken care of beforehand. 

 

To know if you make the most out of the high season, you should ask yourself the following questions:

 

1. Are you imposing longer minimum stays?

The high season is usually during school summer break for children, parents take their holidays at the same time, just like students who finish university for the year. People can go on holidays longer and they are likely to spend more than usual on the accommodation to enjoy their few weeks off before going back to work. 

 

Are you imposing longer minimum stays?

Groups of tourists and families are, therefore, more likely to book weeks full of holidays as opposed to people who take a few days off during the rest of the year.

You can take advantage of this by imposing a minimum stay period that is longer than in the low season in order to prevent apartments from being booked for short periods and thus block longer bookings. 

You can also offer promotional offers for several nights that would be more attractive than your one-night rate. The aim is to encourage guests to book as many nights as possible.

 

2. Do you make prices higher than the rest of the year?

Since demand is increasing, it is normal to increase your prices accordingly. Moreover, you must know that big concerts, festivals and cultural activities are 3 of the biggest reasons why people may travel to the city. 

You can take advantage of the special events taking place in Barcelona during this period to increase your prices, like concerts or festivals such as the Sonar, the BBF (Barcelona Beach Festival) or DGTL festivals which are events that attract thousands of participants from all over the world.

Moreover, it is highly recommended to always pay attention to the competition’s pricing and strategies. Your prices should not be too high or too low compared to the competition. Otherwise, future guests will book competitors’ apartments, or your revenue will be lower than it should be and, which is obviously not the objective.

 

3. Are you dealing with the high season well?

To do this, you must see where you stand and whether you meet the following criteria.   

  • Is your Management Company working in full transparency giving you access to all the relevant data about your apartment?

Make sure you have all the important information concerning your apartment to observe and analyse your results over a determined period (occupancy rate, nightly rates, etc.). It will help you understand what you need to improve.

 

Are you dealing with the high season well?

 

  • Do you use smart locks ?

A good solution that does not prevent check-ins in person, but facilitates everything from the arrival of guests, to logistics with cleaning and maintenance staff, or even if guests lose their keys for example.

  • Do you notice a real difference in terms of income during the summer?

After having complied with all these tips, you should be ready to make the most out of the high season. Considerably improving your results and your revenue for this period, all the while keeping stress low and reducing problems. 

 


How was the last high season for you? Were you completely satisfied with the results, or do you feel like your Management Company could have gone the extra mile for your guests and for you?

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Topics: Property Management Company

Aurore Augizeau

Written by Aurore Augizeau