Attracting guests to your holiday let consistently throughout the year can be challenging, especially since bookings often rely on the evolving trends of holidaymakers.
Holiday lets in the UK, such as those in Falmouth, typically see a surge in demand during the summer months. However, maintaining that level of interest throughout the winter can be more difficult. While holiday lets can offer higher income potential compared to long-term rentals, the income stream may be inconsistent. By effectively increasing your off-peak bookings, you can significantly enhance your overall earnings.
Falmouth: A prime destination for holiday lets
Falmouth stands out as a fantastic location for short-term letting, offering perhaps the most booking diversity of any area in Cornwall. Unlike many other tourist destinations, Falmouth attracts a wide range of visitors beyond the typical holidaymakers seeking leisure and relaxation. This diversity is primarily due to the presence of key institutions and industries, such as the University of Exeter's Penryn Campus, the Royal Cornwall Hospital, and a thriving shipping and yacht industry.
These elements draw in business travellers, visiting academics, medical professionals, and maritime workers, all of whom contribute to Falmouth's robust year-round demand for accommodations. This makes Falmouth holiday lets a wise investment, as they consistently generate income even during traditional off-peak seasons. By catering to both leisure travellers and those visiting for work or study, property owners in Falmouth can maintain steady earnings throughout the year.
1. Accept short breaks
While it might seem more profitable to exclusively offer week-long stays, incorporating options for short breaks in your holiday let can help keep your calendar full. Allowing short stays, particularly in your Falmouth holiday let, can attract guests looking for a quick getaway, boosting occupancy during slower periods.
During the summer peak season, guests often book longer stays. However, in the winter months, offering flexible booking lengths can be crucial to attracting more visitors. By accommodating those who want to book a few days in an otherwise empty week, you can capture more low-season bookings and maximize the occupancy of your holiday let.
2. Accepting multiple bookings
Allowing multiple bookings within the same week can maximise profits for your holiday let business.
This approach is especially popular among owners who accept short stays, as flexible booking options can increase occupancy rates throughout the year and help attract bookings during the low season.
Creating a Google Business Profile is another effective strategy to enhance your property's visibility and boost its booking potential.
3. Implement a dynamic pricing strategy
Pricing your holiday let appropriately is crucial for maximising revenue. Striking the right balance between competitive rates and potential earnings can be challenging. During peak seasons, like summer, you can increase prices as demand for holiday lets in Falmouth soars. Conversely, lowering prices in the low season can help attract more bookings and avoid leaving your property vacant.
Dynamic pricing can be complex and time-consuming. This is where engaging with holiday letting experts can provide significant advantages. For example, at Guested, we use advanced pricing tools to monitor demand levels and seasonal trends, adjusting your rates to maximise your property's income potential.
Owners who opt into our Income Maximisation pricing strategy typically see a 10%+ increase in revenue on average.
4. Choose the right location for your holiday let
The location of your holiday let is a critical factor in determining the number of bookings you receive and your overall income. Our Holiday Let Income Calculator considers location, property size, and features to provide estimated earnings.
When selecting a location for your holiday let, ensure that the area remains open and active year-round. Some of the UK's most popular tourist spots may close shops, restaurants, and attractions during the winter months, potentially affecting your booking opportunities. Choosing a location that remains vibrant throughout the year is essential for consistent income.
5. Offer features for all seasons
Many holiday lets focus on enhancing guest experiences during the summer with features like beautiful gardens, swimming pools, and outdoor seating areas. However, equally important is adapting your property to attract winter bookings.
Consider adding features that make your property appealing during colder months. Installing a wood-burning stove or open fireplace creates a cosy atmosphere. Ensuring your kitchen is well-equipped with baking utensils, or transforming a spare room into a games room, can keep guests entertained during inclement weather.
Another tip for attracting year-round bookings is to update the images on your website or listing to reflect the changing seasons. Showcasing your property's seasonal charm can ignite potential guests' imaginations and encourage bookings throughout the year.
If you want to see how Guested can help you secure your Holiday Let in Falmouth, Cornwall, please get in touch below.