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Short Term Rental Management
2024/2025 Winter Special
Dec 10, 2024
In this discussion, Tim Griglio, a seasoned short-term rental owner in the Smoky Mountains, shares his savvy insights on navigating the winter rental market. He highlights crucial holiday pricing strategies, emphasizing the importance of adjusting rates for less popular dates. Tim also discusses emerging traveler demographics for 2025, particularly a rise in older travelers. The conversation further explores leveraging the upcoming tax season for bookings and effective negotiation tactics for potential property investments.
46:35
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Quick takeaways
- Implementing dynamic pricing strategies during the holiday season is crucial for optimizing occupancy and maximizing revenue.
- Anticipating a demographic shift towards older travelers in 2025 necessitates adjusting marketing strategies and property accommodations to meet their preferences.
Deep dives
Strategies for Holiday Bookings
Effective holiday booking strategies are essential for maximizing occupancy during the winter season. Combining Christmas and New Year's into a single pricing package can simplify the booking process, allowing hosts to offer the entire holiday period at a uniform price to attract more guests. Adjusting pricing based on what days remain available is crucial, especially when holidays such as Christmas fall mid-week, leading to irregular booking patterns. Hosts should lower prices for undesirable weekdays, particularly when weekends near holidays are already booked, in order to fill these gaps and enhance overall occupancy rates.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode