Vacation homeowner increases bookings 54%
A Casiola vacation homeowner learned through our reporting that she was not making as much money as other owners with the same type of unit and within the same apartment complex. She remembered reading a few of our case studies about how the right decor can increase bookings, and she asked if we could help her revamp her vacation home.
“Absolutely!” said her dedicated Owner Relations agent. Immediately, they scheduled a web conference for the following week to discuss options.
After a few weeks of exchanging ideas and creating an action plan, we started the process of selecting the right decorations for each room that our homeowner wanted to redecorate (which was everything, except for the kitchen and bathrooms). The project consisted of replacing some furniture, repurposing other pieces, and adding accessories and window treatments.
YOY: year-over-year is the comparison from current year’s performance from previous year.
Since we started using our Dynamic Pricing strategy, the average increase in annual revenue has been around 40%. However, in this case, through updating the decor and rate, our owner almost doubled her revenue! Though the average daily rate (ADR) only increased a little over 5%, her vacation home rental bookings spiked an additional 54%!
This was a win-win for Dynamic Pricing and Design. Needless to say, our Casiola team and our owner are all very happy!