Industry Info
April 18, 2024

How to Get on Last Minute Bookings Part 1

Maximizing Last Minute Reservations

Maximizing Last-Minute Booking Opportunities

Last-minute bookings can be a valuable source of revenue for property managers, and there are several strategies that can be employed to capitalize on this type of booking. Here are a few tips to help you make the most of last-minute bookings:

  1. Make your rates more attractive: Lower your rates slightly to make them more appealing to last-minute bookers. This can be a good way to fill last-minute vacancies and increase your occupancy rate. Utilize RentalWise calendar-based rates or seasonal per-bedroom pricing to maximize your efforts.

  2. Adjust your minimum night policy: Be flexible with your minimum night policy and make it easier for travelers to book shorter stays. This can help fill last-minute vacancies and increase your revenue, especially on calendar gaps. RentalWise platform's robust settings allow for infinite configurations.

  3. List on last-minute booking focused OTAs. Some platforms are specifically designed for last-minute bookings or offer specific promotional capabilities. By listing your property on these platforms, you can reach a wider audience of last-minute travelers. Through direct connections and our partnership with Rentals United, RentalWise offers over 100 channels for distribution.

  4. Offer discounts and incentives: Offer discounts and incentives to travelers who book last-minute. This can help increase your bookings and revenue. Discount functionality is built right into the RentalWise platform.

  5. Communicate your deals to past and potential new guests: Reach out to past guests and potential new guests to let them know about your last-minute deals. This can help increase your bookings and revenue. By using RentalWise workflows and email templates, you can follow-up with guests automatically.

Understanding Last-Minute Bookings

A last-minute booking is generally defined as a booking made within 14 days of check-in. However, there is variability within this timeframe, with travelers booking 1-2 weeks in advance having more time and leeway in planning their itinerary, compared to those looking to check in the next day.

According to an analysis published in September 2022 by Transparent, 37% of bookings, on average, across world regions are last-minute bookings. Urban markets tend to see the highest number of last-minute bookings, with 65% of bookings made within 17 days of check-in. Meanwhile, travelers who book via their mobile devices are more likely to opt for last-minute or even next-day stays.

It's also important to note that last-minute bookings during peak seasons and events can lead to higher rates as travelers scramble to find suitable accommodation. Thus, it's important to be flexible and creative with your pricing strategy and marketing efforts to capitalize on the last-minute bookings.

Looking for help getting more last-minute bookings? RentalWise may be the solution you're looking for with a robust PMS & Channel Manager, Booking Engine and Website Generator.

See RentalWise in Action

Enjoy our centralized property management system to manage calendars, bookings, rates and payments for all your properties.