How Mary Earned More Money by Doing Less Work

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About the Owner

Casiola customer Mary

Mary had owned her vacation home for over five years and became an Airbnb host in 2014. She loved how easy it was to promote her home and the helpful tools they offered, but she needed help providing top-notch guest services. In January 2015, Mary joined Casiola for some help managing her vacation home while she continued to handle the advertising, nightly rate, and bookings. She seemed to be doing a good job booking her home at least a few days each week.

Later in 2015, Mary processed a reservation for a group of 10 people scheduled to compete in a tournament in Orlando, Florida. Around 9 PM on the second day of their stay, Casiola received an emergency called from Mary’s guests that the A/C was not working. Immediately, our A/C vendor was called to the rescue, and the technician diagnosed a problem that could not be resolved that night. In fact, between ordering the parts and the installation, it could take up to a day to get the A/C back on.

We woke Mary up that night to get her authorization to move her guests to other units that were fully managed by Casiola (unlike the partial management plan we had with Mary). She understood the situation and agreed to move her guests. When we asked about her nightly rate, we learned that she was charging 30% below the going rate for a unit that size and for that season. Mary was undervaluing her property so much that she had a hard time paying for the repairs and moving costs without the revenue from their stay!

A few weeks later, Mary joined Casiola’s full services plan. We determined the best nightly rate to match the value of Mary’s home.

In 2016, Mary made ___% more than her previous year with an 81% occupancy rate —and plenty of money left over for emergencies!

The Challenge

  1. Understanding how and when to adjust prices to maintain a good occupancy rate while maximizing rental revenue.
  2. Knowing her competitor’s rates and circumstances.
  3. Pricing for various season, events, or holidays to earn as much as possible.
  4. Reviewing prices regularly for optimization.

How We Helped

  1. Our full-time revenue managers constantly evaluate the market and determine how to maximize value in each property.
  2. Based on multiple, constantly changing factors, our team determined the ideal premium nightly rate for Mary to earn the most money while still attracting regular guests.
  3. During peak seasons when our competitors often sell out, we adjust our prices on Mary’s unit to earn her more money.
  4. We use multiple platforms, including Airbnb and HomeAway, as well as our own Casiola website, to outsmart competitors and rank high on search results.

Let’s take a look at the numbers

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The Results

  1. Earn the most money with a premium nightly rate.
  2. Maximize your occupancy rate with the right guests.
  3. Work less.
  4. Relax more.

Casiola - Vacation homes you'll loveWhy Casiola?

  1. We have a full-time team with years of experience in dynamic pricing to earn our owners the most money based on the current market.
  2. Our expertise helps us determine the true value of your home, which we communicate to all prospective guests.
  3. We know that premium pricing not only brings in more money but also attracts quality guests.

 

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