It’s the end of the year and New Years Eve is only days away. I had a last minute guest cancellation for NYE. I took this as an opportunity to increase my price for the night. It was booked again within an hour for a 50% higher price. Clearly there is a last minute rush to find a room and that is when you can really get that extra profit.
Reducing your prices can start a cascade of bookings
December I find is a quiet time of year and usually so is early January. At one point during the month I reduced my prices by 20% to avoid being empty, the first time I have done such a thing in as long as i can remember. Reducing prices instead of being empty is sometimes the best thing to do. I am very much of the opinion that bookings usually follow other bookings. By this I mean that if you reduce your prices to get a booking the airbnb algorithm will see you got a booking and therefore promote you further as usually this means more bookings will flow. Its a virtuous circle.
Warn your guests from overseas about Christmas
It seems every year I have a guest who seems to not know the consequences of being in London on Christmas day. A guest from South Korea arrived at my house on boxing day. I had already warned him when he booked that the 25th of December is a public holiday and there will be no public transport and that most of London will be closed. When I spoke to him he started asking me about how he can get to the British library. I explained to him that there is no public transport and even if there was public transport the British Library would be closed! He seemed extremely surprised. I guess some countries so not understand the enormity of Christmas day in the west.