Running your business on Airbnb can be a really exciting and eventful journey. There are always new guests booking your accommodation and hosting their stay is always something to look forward to. However, for some hosts, their Airbnb revenue is not exactly up to their standards. They want to increase their Airbnb income but sometimes increasing the number of guests is not exactly a feasible option. Not to stress! There are some reliable methods to increase your revenue by simply implementing new techniques that will allow you to increase your ROI with existing guests. Here are a few tips:
Charge Extra for Late Check-ins/Check-outs
A great business strategy for you would be to set a fixed check-in and check-out time but also set an extra 10% to 20% fee for anyone who checks in/out late. This helps you not only to receive your guests on time, reducing stress, but also benefits you if they choose to come in late. Either way, it is a win-win situation for you. However, it is important to mention that you must stick to a fixed schedule in order to ensure your Airbnb revenue increases. The key is to make sure your check in/out hours are listed clearly on your listings description in order to avoid unhappy guests. You can also choose to waive the fee if the guests have come across a bit of bad luck (delayed flights etc..), this will boost your chances of a great review.
Set Up A Mini-Bar at Home
Nothing speaks “business mastermind” more than opening a “business within your business.” A perfectly strategic way of increasing your Airbnb revenue is to set up a minibar within the premises of your accommodation. In this way you not only invite your guests to have a peaceful drink at their own Airbnb, but you also can earn some additional Airbnb income as well. Who wouldn’t want to have a drink in the comfort of their home instead of having to go out to a nearby bar? Make sure you include at least one ‘high ticket’ item, like a bottle of wine or whiskey, as you’ll only ever make the sale if you have it available to begin with.
The Occasional Special Treatment
Every now and then, it is useful and immensely helpful to your business to add some perks to your Airbnb service. Guests coming in to spend the night/weekend at their Airbnb would love to have some extra offers added to their stay. For example, an “in-house spa day” at 10 % discounted rate may be all it takes to sway your customer in, after all, they are already on holiday and most likely looking to relax. Not just that but the feasibility of having someone else handle all the complications sounds like a pretty sweet deal. Add in group packages, couples offers and multiple package deals to boost your revenue. Everyone loves a package deal and during the holiday season, you should see a significant rise in bookings and your Airbnb revenue. You can add a few extra features like free lunch/tea. These all add to the splendor and overall lavishness of your service leading you to gain a great reputation in the long run, which in turn, will also increase your Airbnb revenue.