Are you struggling to get year-round bookings for your Gatlinburg, TN, vacation rental?
As one of the cities close to the Great Smoky Mountains National Park, Gatlinburg, TN, sees millions of tourists every year. This makes it a great location for vacation hosts, but it's not guaranteed that you'll get as many bookings as you'd like. New vacation rental properties open their doors every day, increasing the competition for guests.
Optimizing your vacation rental occupancy rate is the key to maximizing your income. To do that, you have to implement a few practical strategies.
Let's explore what you can do to keep the bookings coming.
Understand Your Target Market
Your short-term rental is available to anyone who wants it. They just need to pay your nightly fee and that's it.
Operating on such a model isn't going to help your vacation property optimization efforts. You need to define your target market and focus on positioning the property in their direction.
For example, if your property is a 5-bedroom single-family home, your target audience is group or family travelers. On the other hand, a 1-bedroom apartment is ideal for solo travelers and those traveling with their partners.
When you know your target market, you will be in a better position to run a marketing campaign that can yield excellent results or curate suitable experiences. For instance, if you're targeting families, you'll need to provide amenities that enhance a family-friendly experience.
Make the Most of Peak Season
Gatlinburg sees visitors most of the year, but it's during summer that the place fills up. The peak travel season presents a prime opportunity for local vacation hosts to increase their occupancy rate and earn a lot more.
Do you know how to make the most of the high season?
Running a marketing campaign targeted at your potential customers is a good place to start, but you must do more. If you don't have a Minimum Length of Stay (MLOS) policy, the peak season is the best time to implement it. An MLOS policy gets more nights out of every booking, keeping your occupancy rate high during the season.
Don't Ignore Local Guests
It's understandable that you might be focusing on the people visiting Gatlinburg from various parts of the country and even from around the world. All good, but don't forget about the locals. Just because they live near your property doesn't mean they won't fancy sampling your offerings.
Curating a package for locals is an effective strategy for getting them interested. For example, during the low season, you can offer great discounts specifically for residents of Gatlinburg and surrounding cities and towns.
Optimizing Your Vacation Rental Occupancy Rate Simplified
You have made a smart decision to invest in a vacation rental property in Gatlinburg. The job didn't end there, though. You want to earn good money from the investment, and learning the art of optimizing your vacation rental occupancy rate is one of the key ways to make it happen.
Another key way? Hiring a full-service short-term rental management company! PMI Smoky Mountains can help you optimize your occupancy rate, as well as handle other tasks like cleaning, guest screening, and maintenance.
If you want a company that is dedicated to the success of your vacation properties, get in touch now!
