Every year, over half a million people choose Windham, Maine, for their vacations. Most travelers flock here from June through September when warm weather lets them make the most of Maine's outdoor activities.
Windham is a top vacation spot for those wanting to parks and forests, as well as beautiful Sebago Lake. In October, you might get some guests wanting to enjoy scenic drives among Maine's magnificent fall scenery.
If you aren't filling your accommodation during these busy months, you need help with your peak season pricing strategies. Keep reading for our top tips for boosting your rental income.
Know Your Competitors
To come up with the most effective pricing techniques, you should start by analyzing your competition. It's not advisable to set prices for your accommodation without knowing how much other short-term rental owners charge.
This helps you set prices to maximize your vacation rental profits and avoid driving guests away with excessive daily rates. Research websites like Airbnb or booking.com to get an idea of the rental rates for similar properties during each time of the year.
An experienced property manager can help you stay abreast of your competitors' pricing tactics with regular rental analyses.
Peak Season Pricing Tactics
Seasonal pricing tactics help boost rental income for your Windham short-term rental year-round, but it pays to pay extra attention to peak season rental strategies if you want to stand out in the crowd come summertime.
The most effective peak-season pricing methods include:
Targeted Marketing
A recent study indicates that 49% of consumers find what they need thanks to targeted advertising. This type of marketing places products and services in front of customers based on their demographics.
You can identify your target audience by researching the following traveler statistics for Windham:
- Location
- Age
- Occupation
- Income
- Interests
You can use this information to create optimized listings and place them on the most popular vacation rental platforms.
Dynamic Pricing
Dynamic pricing is an effective marketing method based on supply and demand. In the vacation industry, dynamic pricing involves increasing your prices during high-demand periods and offering lower rates during slow times.
This tactic means you need to keep track of your bookings vs. rates so you can adjust your pricing immediately if you notice a downward trend in bookings.
Promotions
Most vacation marketers offer reduced prices and promotions during the low season, but you can also offer peak season special offers to fill your accommodation up faster.
These offers might include things like:
- Getting one free night for every five booked
- Free accommodation for one extra person
- Discount coupons for nearby attractions
Creative marketing helps you secure bookings earlier and can promote repeat business.
Embrace Peak Season Profits in Windham
Optimizing your vacation rental pricing hinges on trial and error unless you get expert help with these tactics. Hiring a property manager is the best way to ensure your short-term rental's success from the start.
PMI Vacation Land is a top choice for Windham short-term rental owners eager to profit from their investments. Our tried-and-tested peak season pricing methods ensure maximum profits for all our short-term landlords, and we offer a full range of services to ensure your guests return year after year.
Discover an easier way to reap the rewards of Windham's exceptional short-term rental potential.
