Maintaining a high return guest rate is essential to increasing your rental income and the overall profitability of your short-term vacation rental property. Yet it is a marketing measure and retention tool that is not as widely discussed as it should be. Read on to glean some insider knowledge from our Reunion Resort property management team on increasing your return rates.
In a study published on September 2nd, 2022, researchers looked at two prime vacation rental markets to measure repeat guest stays in short-term rentals. One of these areas was Kissimmee, Florida, cited as the largest vacation rental market in the United States. The second quarter of the year showed this area’s current average occupancy rate to be 66%, with approximately 43,000 STR local listings.
Are Guests Returning To Vacation Rentals?
The Central Florida region of Kissimmee saw a solid return guest rate of 12% in their perspective vacation rental market. This data indicates that the potential for maintaining and increasing return guest rates is possible, and the effects of doing so are highly profitable.
Here’s how growing your return guest rates, particularly in this lucrative local vacation rental market, can be beneficial to you:
The Benefit Of High Return Guests Rates For Vacation Rental Owners
Boosts Your Occupancy: Occupancy security is the first aspect that high return guest rates give a vacation rental owner. Your percentage of return guests will steadily trend upward when you consistently implement high-quality service, competitive pricing, and effective guest relation measures. Additionally, your marketing efforts cost less on the front end when your rental booking dates fill up with regular return guests.
Builds Your Brand: Along with retaining a high percentage of return guests comes the added benefit of word-of-mouth advertising and the influx of positive online reviews. Testimonials from satisfied guests highlighted on your website and Google Business Profile can help build your brand’s rapport and attract more potential guests.
Steps You Can Take To Increase Your Return Guest Rates
Invest In Market Research: A vital place to grow return guest rates is to determine why your guests are traveling to your location. Many rental owners that utilize our Reunion Resort property management services see their rental guests return to attend unique local tourist activities such as:
- Special events at Disney Parks and Resorts like Run Disney
- Youth, collegiate, and professional sports tournaments and events
- Spring Break attractions
- And more
Prioritize Vacation Stay Follow-Ups: Another way to boost return guest rates is to implement guest relation management protocols to wow your guests during their stay and maintain a relationship even after they have returned home.
When you partner with the Reunion Resort property management team at Roseus, we treat guests staying in your rental properties like our VIPs. We do this in many ways, including spotless cleaning standards, 24/7 on-call maintenance support, and courtesy check-in communication with previous guests through our extensive database.
Provide Direct And Third-Party Booking Options: Direct booking options allow guests to schedule their next stay at your rental property in advance, keeping your customer acquisition costs low. Third-party booking sites like Airbnb and Vrbo play a role in marketing your property to new guests at competitive rates throughout the year. When you partner with Roseus, you can have both of these options working towards increasing your return guest rates.
Our Reunion Resort Property Management Team Can Help
Here at Roseus, we are a full-service property management company that offers premium, worry-free services to all of our vacation property owners. Let our team of experts help you strategically position your rental property in the local vacation market so you’ll see guests migrate back to your vacation home season after season. Contact us today to see how we can help.