How to Apply This in South Africa :
Use dynamic pricing tools like Pricelabs , Beyond Pricing , or Airbnb ’ s Smart Pricing to optimise your rates in real-time . Alternatively , manually adjust prices periodically to increase visibility on the platform .
Offer last-minute discounts or early-bird discounts during slower periods to ensure consistent bookings .
Leverage Airbnb ’ s ‘ Special Offer ’ tool to secure bookings quickly . Consider joining Booking . com ’ s Genius programme to tap into its loyal customer base , though be mindful of its review system and lack of host insurance , which is available through Airbnb .
Key Insight : Competing solely on price can be a losing strategy . Instead , differentiate your property by offering unique value and ensuring your pricing strategy reflects that . Flexibility in pricing will give you a competitive edge in crowded markets .
2 . The Rise of Longer Stays : Attracting Remote Workers and Extended Travellers
Key Takeaways from Global Platforms :
• Airbnb ’ s Q4 2024 earnings revealed that 23 % of all bookings were for stays of 28 days or longer .
• Both Booking . com and Vrbo highlighted the growing demand for corporate travel-friendly accommodations , with more business travellers opting for vacation rentals over traditional hotels .
How to Apply This in South Africa :
• Embrace the growing demand for longer stays . Highlight your property ’ s suitability for remote workers by promoting workspaces , high-speed internet , and other amenities .
• Offer weekly and monthly discounts on platforms like Airbnb to attract digital nomads and business travellers .
• Partner with corporate relocation agencies to secure longer-term bookings .
• Price your long-term stays at 2.5x to 3x the typical long-term rental rate for a profitable return , while offering guests flexibility and convenience .
• South Africa ’ s affordability and scenic landscapes make it an appealing destination for remote workers , presenting a significant opportunity for investors to cater to this growing trend .
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