Strategies to make your tourist apartments profitable
Do you have a lot of tourist apartments and want to get more out of it? At Dobo Homes, experts in tourist apartment management, we want to help you. For this reason, we have prepared this article where we will explain 5 strategies to improve the profitability of your apartments.
But first, let's look at some data.
In a INE report, it shows that in December 2024, the occupancy percentage in tourist apartments was 31.72%. This represents a decrease of 3.36% compared to the same period in 2023. However, the price per night increased by 7.07%.
Of course, December is one of the months with the least tourist influx in Spain. But what we want to show is that many owners fell below the desired occupancy rate to be profitable.
So how can you improve that percentage and make your apartments more profitable? Take note of the following strategies
5 strategies to improve the profitability of tourist apartments
According to newspaper information The Economist, temporary rental can leave an average profit of around 13,762 euros per year. If you are not reaching those numbers with your apartment lot, there is something you are doing wrong. So it's time to put the following strategies into practice.
1. Hire a tourist apartment manager
One of the problems that owners of apartment lots have is that they are not able to achieve a high occupancy rate. In the formula of the tourist rental profitability, this factor is key and if it is below 50%, your income will not be very attractive.
This can be solved if you hire a tourist apartment management company such as Pool Homes. We offer our clients a comprehensive service that ranges from the promotion of apartments to property maintenance.
Likewise, we guarantee a high occupancy rate that can generate adequate profitability for your tourist apartments. To do this, we use promotional strategies to reach more guests and also offer them a first-class experience, encouraging 5-star reviews.
2. Make the most of the peak season
Last year, the overnight stays per month in tourist apartments They were between 7 million and 11 million during the peak season. In contrast, during the low months, it barely exceeded 4 million overnight stays. Therefore, it is key that you prepare for the months of greatest demand.
You have to work with dynamic prices to keep them competitive. That is, neither higher nor lower than those of your competition. In addition, it is important that you have enough staff to provide the best service to your guests.
Likewise, you can create personalized experiences or packages to ensure more bookings. For example, if your lot of tourist apartments is in a city like Madrid, you can offer guided tours or tickets to museums.
3. Use digital marketing
If you do not have the services of a comprehensive vacation rental management, you must be in charge of attracting clients. And for that, you need to use digital marketing. Whether you have your own website or advertise on booking platforms, your goal will be to have good positioning.
For that, you must use SEO to position yourself in search engines like Google, advertise on social networks and use email marketing.
This way, you will be able to reach more people interested in accommodation in your city, therefore, you will increase the percentage of reservations. Of course, this is not something simple, but it is very necessary. For this reason, many owners choose to hire tourist apartment management companies.
4. Offer additional services
To increase the income of your tourist accommodation, offering additional services can make a difference. Beyond the basic reservation, it includes options such as cleaning, transfers or local experiences.
In this way, the perceived value of your services increases, attracting an audience willing to pay more for a personalized stay.
Differentiating yourself in a competitive market is key, and an excellent strategy is to design thematic packages adapted to the interests of travelers. From ecotourism experiences and cultural getaways to hiking trails.
Furthermore, loyalty plays a fundamental role in long-term profitability. Small details like a welcome pack make a difference.
Optimizing the offer of your tourist apartments Alone will increase income from each reservation, but you will also strengthen the reputation of your accommodation. Consequently, you will get more clients and stable occupancy throughout the year.
5. Leave a good first impression
The first impression of your accommodation can make the difference between a confirmed reservation or a missed opportunity. Showing a clean, tidy and well-decorated apartment on booking platforms builds trust and attracts more guests.
But, it is essential that this image is not just a marketing strategy, but a real representation of what visitors will find when they arrive.
Offering an impeccable space, with all the promised amenities, improves the customer experience and increases the chances of receiving good reviews. As a result, you'll see a boost in future bookings.
The coherence between what is shown in the photos and the reality of the accommodation reinforces credibility and encourages loyalty. Taking care of every detail, from cleaning to ambiance, turns your property into an attractive and reliable option.
Final reflection
Managing a lot of apartments and making them profitable is not easy, even more so if you do not have the necessary knowledge or equipment. If you want to improve your numbers, you must start with the basics, improve the occupancy rate.
Make the most of peak seasons, reach as many people as you can, offer additional services and attract guests with excellent presentation. By putting this into practice, the occupancy rate will grow, reaching levels where you will enjoy good profitability.
Finally, don't forget that at Dobo Homes, we are experts in managing tourist apartments. We have experience applying all the mentioned strategies and getting the most out of tourist apartment lots.
Contact us now and increase the profitability of your tourist apartments.