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TheBeachHouse

TheBeachHouse

Well-known member
Joined
Jun 24, 2013
Messages
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373
Here's some good news. Our business is strong. How can I tell? Anecdotally.
(We have owned the place since August 2013, have one summer season behind us.)
Got a call from a regular guest who has stayed in our house for many, many years. She wanted to book a room for 4th of July weekend. But she couldn't because we are already booked. And for all the other weekends in July. She was shocked. Before we took over, she was always able to book a room.
High five!
 
Bravo! Now go raise rates for 2016 and when you get these calls let them know those weekends are open. For now.
 
Morticia said:
Bravo! Now go raise rates for 2016 and when you get these calls let them know those weekends are open. For now..
Click to expand...
Absolutely. Standard supply and demand is that when you are always full and you get a lot of calls, your rates are too low.
Many years ago, I had 3 apartments for rent. After full occupancy for 18 months or so, a couple tenants left and I put out the apartments at about the same rent. I was flooded with calls morning noon and night.
Dawned on me that I was too cheap. I hiked them about 20% and soon had them rented.
People assume things move slowly. But the national economy can change within months - good or bad, and change everything.
If things are slow, it is often a sign you are too expensive. Good old yield management...
Very educational.
 
undersea said:
Morticia said:
Bravo! Now go raise rates for 2016 and when you get these calls let them know those weekends are open. For now..
Click to expand...
Absolutely. Standard supply and demand is that when you are always full and you get a lot of calls, your rates are too low.
Many years ago, I had 3 apartments for rent. After full occupancy for 18 months or so, a couple tenants left and I put out the apartments at about the same rent. I was flooded with calls morning noon and night.
Dawned on me that I was too cheap. I hiked them about 20% and soon had them rented.
People assume things move slowly. But the national economy can change within months - good or bad, and change everything.
If things are slow, it is often a sign you are too expensive. Good old yield management...
Very educational.
.
Click to expand...
hmmmmm. interestingly, we were chatting with the PO and showed her our new brochure. She commented that our rates were low.
 
Congrats. Yes, when you are that booked this early, raise the rates (you might want to do it now with the remaining openings by maybe $5). IF you get any cancellations for July, definitely up the rates for those openings.
 
TheBeachHouse said:
undersea said:
Morticia said:
Bravo! Now go raise rates for 2016 and when you get these calls let them know those weekends are open. For now..
Click to expand...
Absolutely. Standard supply and demand is that when you are always full and you get a lot of calls, your rates are too low.
Many years ago, I had 3 apartments for rent. After full occupancy for 18 months or so, a couple tenants left and I put out the apartments at about the same rent. I was flooded with calls morning noon and night.
Dawned on me that I was too cheap. I hiked them about 20% and soon had them rented.
People assume things move slowly. But the national economy can change within months - good or bad, and change everything.
If things are slow, it is often a sign you are too expensive. Good old yield management...
Very educational.
.
Click to expand...
hmmmmm. interestingly, we were chatting with the PO and showed her our new brochure. She commented that our rates were low.
.
Click to expand...
I only say that because you are fully booked on weekends in July and it's only March. It's something to think about.
August is probably an even busier month so you might want to think about it. Maybe do higher weekend rates? I'm sure midweek will fill quickly, too.
Most of our summer regulars book on the way out the door or they start calling in Feb.
 
Morticia said:
TheBeachHouse said:
undersea said:
Morticia said:
Bravo! Now go raise rates for 2016 and when you get these calls let them know those weekends are open. For now..
Click to expand...
Absolutely. Standard supply and demand is that when you are always full and you get a lot of calls, your rates are too low.
Many years ago, I had 3 apartments for rent. After full occupancy for 18 months or so, a couple tenants left and I put out the apartments at about the same rent. I was flooded with calls morning noon and night.
Dawned on me that I was too cheap. I hiked them about 20% and soon had them rented.
People assume things move slowly. But the national economy can change within months - good or bad, and change everything.
If things are slow, it is often a sign you are too expensive. Good old yield management...
Very educational.
.
Click to expand...
hmmmmm. interestingly, we were chatting with the PO and showed her our new brochure. She commented that our rates were low.
.
Click to expand...
I only say that because you are fully booked on weekends in July and it's only March. It's something to think about.
August is probably an even busier month so you might want to think about it. Maybe do higher weekend rates? I'm sure midweek will fill quickly, too.
Most of our summer regulars book on the way out the door or they start calling in Feb.
.
Click to expand...
They start calling, texting, emailing, etc around March 1st. Those who made reservations last year for this year send their deposits after Jan 1st. We send out a reminder the end of January for those who haven't.
 
With all the wonderful information, advise, criticisms, etc., that this forum has provided me, I am now at the gravy mark of my reservations. What? I now have advance bookings EQUAL to all of what I did last year and it's only March 24!!!!!
Only been open since January 2014, I know, it's always a slow start, but I attribute much of our latest success to this forum. Without you, my friends, I don't know where I would be.
Thank you! Thank you! Thank you!
(And wait until the season actually starts
wink_smile.gif
 
2cat_lady said:
With all the wonderful information, advise, criticisms, etc., that this forum has provided me, I am now at the gravy mark of my reservations. What? I now have advance bookings EQUAL to all of what I did last year and it's only March 24!!!!!
Only been open since January 2014, I know, it's always a slow start, but I attribute much of our latest success to this forum. Without you, my friends, I don't know where I would be.
Thank you! Thank you! Thank you!
(And wait until the season actually starts
wink_smile.gif
.
Click to expand...
That is wonderful. I speak for myself in saying I try to be a resource - otherwise, I am useless.
 
Fantastic. Now raise your rates for this year!! Yes, really. No buts. It doesn't have to be a huge jump. Do you know what just $10 per room night would do over the summer to your revenue? Work smarter, not harder!
 
Breakfast Diva said:
Fantastic. Now raise your rates for this year!! Yes, really. No buts. It doesn't have to be a huge jump. Do you know what just $10 per room night would do over the summer to your revenue? Work smarter, not harder!.
Click to expand...
Well, I actually did raise them a little from last year. I can't change anything for this year due to being locked in by my provincial guidelines but I will definitely consider it for next year.
 
2cat_lady said:
With all the wonderful information, advise, criticisms, etc., that this forum has provided me, I am now at the gravy mark of my reservations. What? I now have advance bookings EQUAL to all of what I did last year and it's only March 24!!!!!
Only been open since January 2014, I know, it's always a slow start, but I attribute much of our latest success to this forum. Without you, my friends, I don't know where I would be.
Thank you! Thank you! Thank you!
(And wait until the season actually starts
wink_smile.gif
.
Click to expand...
2cat_lady said:
With all the wonderful information, advise, criticisms, etc., that this forum has provided me, I am now at the gravy mark of my reservations. What? I now have advance bookings EQUAL to all of what I did last year and it's only March 24!!!!!
Only been open since January 2014, I know, it's always a slow start, but I attribute much of our latest success to this forum. Without you, my friends, I don't know where I would be.
Thank you! Thank you! Thank you!
(And wait until the season actually starts
wink_smile.gif
Click to expand...
wonderful news!!
 
2cat_lady said:
With all the wonderful information, advise, criticisms, etc., that this forum has provided me, I am now at the gravy mark of my reservations. What? I now have advance bookings EQUAL to all of what I did last year and it's only March 24!!!!!
Only been open since January 2014, I know, it's always a slow start, but I attribute much of our latest success to this forum. Without you, my friends, I don't know where I would be.
Thank you! Thank you! Thank you!
(And wait until the season actually starts
wink_smile.gif
.
Click to expand...
2cat_lady said:
With all the wonderful information, advise, criticisms, etc., that this forum has provided me, I am now at the gravy mark of my reservations. What? I now have advance bookings EQUAL to all of what I did last year and it's only March 24!!!!!
Only been open since January 2014, I know, it's always a slow start, but I attribute much of our latest success to this forum. Without you, my friends, I don't know where I would be.
Thank you! Thank you! Thank you!
(And wait until the season actually starts
wink_smile.gif
Click to expand...
Glad to hear! Keep up the great work too!
 
TheBeachHouse said:
2cat_lady said:
With all the wonderful information, advise, criticisms, etc., that this forum has provided me, I am now at the gravy mark of my reservations. What? I now have advance bookings EQUAL to all of what I did last year and it's only March 24!!!!!
Only been open since January 2014, I know, it's always a slow start, but I attribute much of our latest success to this forum. Without you, my friends, I don't know where I would be.
Thank you! Thank you! Thank you!
(And wait until the season actually starts
wink_smile.gif
.
Click to expand...
2cat_lady said:
With all the wonderful information, advise, criticisms, etc., that this forum has provided me, I am now at the gravy mark of my reservations. What? I now have advance bookings EQUAL to all of what I did last year and it's only March 24!!!!!
Only been open since January 2014, I know, it's always a slow start, but I attribute much of our latest success to this forum. Without you, my friends, I don't know where I would be.
Thank you! Thank you! Thank you!
(And wait until the season actually starts
wink_smile.gif
Click to expand...
wonderful news!!
.
Click to expand...
Sorry Beach House. Didn't mean to steal your thread.
Just listening to your wonderful report made me also feel grateful for friends.
Here's to a great 2015 to all of us!
 
Breakfast Diva said:
Fantastic. Now raise your rates for this year!! Yes, really. No buts. It doesn't have to be a huge jump. Do you know what just $10 per room night would do over the summer to your revenue? Work smarter, not harder!.
Click to expand...
Absolutely. I am shocked that we have raised our rates 8% twice in 6 months and it has not stemmed the tide. The barriers we crossed were of our own making.
Thank you BD for saying WORK SMARTER.
 
I am remiss. I was thinking congratulations and got off track.
Congratulations!
 
happykeeper said:
Breakfast Diva said:
Fantastic. Now raise your rates for this year!! Yes, really. No buts. It doesn't have to be a huge jump. Do you know what just $10 per room night would do over the summer to your revenue? Work smarter, not harder!.
Click to expand...
Absolutely. I am shocked that we have raised our rates 8% twice in 6 months and it has not stemmed the tide. The barriers we crossed were of our own making.
Thank you BD for saying WORK SMARTER.
.
Click to expand...
happykeeper said:
Absolutely. I am shocked that we have raised our rates 8% twice in 6 months and it has not stemmed the tide. The barriers we crossed were of our own making.
Thank you BD for saying WORK SMARTER.
Click to expand...
thumbs_up.gif

 

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