Case Study: More Profit
Case Study 1:
Inefficient Management Hinders Property Performance
A client with eight properties was experiencing suboptimal performance under a previous full service management firm. Despite paying a 25% management fee, their occupancy rates lingered at 64% due to inefficient pricing and a reactive revenue management strategy.
Challenge
Revamping Pricing for Revenue Maximization
The properties were not achieving their revenue potential. Bookings were hindered by a set it and forget it approach to pricing. The client needed a solution that would not only enhance occupancy rates, but also proactively set prices to maximize revenue.
Solution
Transforming Revenue and Service Excellence
Near It All introduced its unique revenue management system. The system leverages a combination of proactive price updates by Near It All revenue managers and dynamic pricing software to enhance the performance of the listings over time. Additionally, our dedicated Guest Experience Managers ensure top-tier service with a prompt guest response time to capture every booking opportunity. By expanding the properties’ visibility across multiple channels, Near It All enhances the properties’ market reach.
Results
Occupancy and Revenue Soar with Near It All
Within six months, the occupancy rates increased from 64% to an impressive 85% on average. This surge, combined with our refined pricing strategy, significantly boosted the client’s net revenue.
conclusion
Elevating Vacation Rental Management Success
With Near It All’s partnership, the client’s properties were converted from a liability that was underperforming to a key revenue driver in their portfolio. If you’d like to learn more about how Near It All can do the same for you, book a free operations assessment below.
