Many people plan their vacations early and prefer to book accommodations in advance. However, some travelers plan their trips spontaneously and seek vacation rentals with last-minute deals.
If you own an Airbnb, last-minute bookings are essential for keeping your occupancy rate high. That’s why you should consider offering your potential guests last-minute discounts to entice them to book a stay at your vacation rental property.
In this blog post, we’ll discuss the benefits of offering discounts for last-minute bookings and some strategies for capturing more guests with Airbnb last-minute deals.
Airbnb Last-Minute Deals: What Are the Benefits for Hosts?
Last-minute deals are beneficial for both guests as well as Airbnb hosts. For guests, it’s a chance to book a place to stay during their trip at a lower price. That’s why so many travelers love Airbnb last-minute deals and often book on short notice.
For owners of vacation rentals and property managers, offering discounts for last-minute bookings represents an opportunity to attract guests and maximize the occupancy of their listings.
Although managing many bookings can be challenging, using vacation rental software can make this process easier and maximize your success. Tools like Hospitable allow you to automate almost all your routine operations and make your STR business more efficient.
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By offering last-minute deals, you can create a sense of urgency within savvy travelers who intentionally hold off on making travel plans so they can use discounts and save money. That may cause them to book a stay more quickly. It’s crucial during low and shoulder season when travelers may wait for a good deal before making their reservation.
Things to Consider Before Offering Last-Minute Deals
Setting a reasonable last-minute discount on Airbnb can positively impact your listing, helping you rank higher on the platform. That means that more people will be able to see your deal and take advantage of it to book your property.
But while you would like your property to be booked all the time, it’s important to remember that 100% occupancy doesn’t always mean high revenue. It’s all about finding the right balance and making an informed decision.
If it makes sense for your bottom line, you may consider offering a discount for last-minute bookers to fill gaps in your calendar. For example, the discounted nightly rate should still cover your cleaning and maintenance costs.
You also need to know the current situation in your market (supply and demand) and the guests’ booking patterns before you decide to give last-minute discounts. You should always estimate the costs of running an Airbnb and use dynamic pricing to ensure your nightly rates are competitive and you’re not losing out.
Airbnb Last-Minute Deals: How to Set Last-Minute Discounts
You can easily set last-minute discounts directly on the Airbnb platform from your host dashboard. To do that, you must choose the “pricing” tab and find the “last-minute discount” option. It allows you to automatically adjust your price (and set a percentage of your discount or a fixed amount) for bookings within 29 days of guest arrival.
For example, if you want to offer a 25% discount to your guests who book within two weeks, you can set a fixed discount of 25% within 14 days of arrival. Besides, you can add multiple sets of last-minute discounts, such as 15% for those who book within seven days of arrival and 25% for guests who make a reservation within three days.
What Can You Do To Secure Last-Minute Bookings?
If you want to maximize your occupancy rate, listing your home only on Airbnb isn’t enough. You must market your STR property and the last-minute deals on major OTA platforms, including Vrbo and Booking.com.
Consider using different social media channels to reach potential guests and spread the word about your discounts for last-minute bookings. That can help travelers book their rental space whenever they require it.
You can also create a direct booking website to share information about your promotions, discounts, and incentives and save money on OTA fees.
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Turn on Instant Book. When travelers book accommodations on short notice, they don’t have time to wait until you can approve their stay. Instead, they may use the search filter only to see those Airbnb listings that allow them to book on the spot.
Consider reducing or removing minimum stay requirements to make your vacation home more attractive to spontaneous and budget travelers and encourage shorter stays. Unlike traditional 1-week vacations, last-minute stays tend to be 1 to 3 nights.
Airbnb also makes it easy for hosts to create custom promotions to reduce their nightly rates when the vacant dates get closer. If you decide to offer at least a 10% discount, Airbnb will automatically cross out your original nightly rate. It will also show the new rate to let travelers know you’re offering a deal to encourage them to book with you.
Final Thought
Airbnb last-minute deals are a great way to attract spontaneous travelers or those on a budget and fill in the gaps in your calendar. Offering deals for last-minute bookings to Airbnb guests will also help you increase your revenue and maximize the success of your short-term rental business.
Looking for more tips that can help you become a great host? Check out our blog article to learn about the Airbnb best practices that can help you run a successful business and maximize your profit.
