Get Short-Term Rental Market working for you

Optimising your survival strategy

In the previous article, we saw how an “all-in-one” notion can help your guests make their booking journeys faster, better, and easier. We explained how seeing your rental as a product with a life cycle might help find those facets that were otherwise not so obvious. Together with two others: the ability to oversee changes, and to cope with them, it formed the three key concepts of survival in the modern world of the rental industry. Today we introduce the fourth key feature - digitisation, allowing your business to stand firmly on all fours.

The fourth key concept of survival is the realisation that your listing is not a single entity on its own, but an extension of a digital booking platform. The life cycle of the booking platform, its ups and downs, might affect the “bookabiliity” of your listing. Thus, among others, you should think about the placing of your listings on those platforms with predicted growth and avoiding those in the stagnation phase. This also implies keeping an eye on newcomers and the new ideas they attempt to implement.

You have probably been running your rental business for many years with the same providers with some predictable outcomes, but do not get too comfortable. Change is already here: the all-in-one notion assuming that your guests will dramatically move to book everything on one platform is already here. Slowly but surely it is taking its place in their mind; if you are not thinking about putting your listings on one of those platforms, be sure your competitors will.

The true genius of the all-in-one thinking is that not only is there no longer a need for other platforms, it also removes the need for mega searches as well. At least this is the true when TheGM is concerned. Its 0% Service Fee* feature for listings allows hosts to keep their best prices on one site, use the extra profit for more competitive price formation, and, in fact, to sell the rooms in the same way as through their own websites.

In the light, TheGM’s ‘all-in-one’ thinking might start looking as a truly beautiful concept but let see how exactly it can complement your business and the best takes from it. In the next article, we will learn TheGM’s key benefits for hosts and hotels, including the “5-star service” feature.

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Source: 

https://www.thegoldenmoon.com/blog/inside-the-golden-moon-update/

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