Have you ever felt that your serviced apartment is packed at every point and an empty city at the next? The secret to smooth running is to understand your guests’ booking behavior, and two essential metrics are lead time and length of stay.
Lead Time
Lead time is between a guest booking their stay and their arrival. It’s like your crystal ball, revealing travel patterns and guest intentions. Here’s the catch: different guest types have vastly different lead times. Business travelers on short trips might book a week in advance, while families planning a vacation could secure their spot months ahead.
Understanding Your Guest Behaviours
Imagine the chaos if you set a minimum stay requirement of a week, only to find your ideal guests are corporate warriors with a 2-day lead time. By identifying your target guest persona, you unlock the secrets of their booking habits. Here are some examples:
The Holidaymaker
This guest plans well in advance, often booking months before peak seasons.
The Business Traveler
Efficiency is key for this guest. Lead times can vary, but expect last-minute bookings or short stays.
The Relocator
This guest might book a stay for several weeks or months while searching for permanent housing.
Lead Time Secrets for Securing Bookings
Knowing your guest’s lead time empowers you to optimize your business:
Minimum Stay Requirements
Set minimum stays aligned with your target guest. A week’s minimum might deter business travelers, while a shorter minimum could leave gaps during peak holiday seasons.
Targeted Advertising
Focus your advertising efforts on channels frequented by guests with your ideal lead time. Social media might be best for last-minute business travelers, while travel blogs attract vacation planners.
Dynamic Pricing
Lead time can influence pricing strategies. You might offer discounts for bookings made far in advance or adjust prices based on seasonal demand and lead time data.
Length of Stay
Length of stay reveals how long a guest typically stays at your serviced accommodation. This metric is your revenue roadmap, helping you predict income and manage housekeeping schedules.
Book a call now with our team we will help you to get more Direct Bookings and All the services regarding Serviced Accommodation.
The fact we have worked in just over 50+ locations all over the UK for Serviced Accommodation business owners, we are excited to share with you this process and suggestions above.
Watch this video to learn more about Short-Term Rentals and amenities that are included in the Serviced Accommodations.
We have now worked in global markets such as the US, UK, Canada, Australia, Dubai, Spain, Portugal and many others. We are excited to help you find your perfect serviced accommodation & apartments.
