Ever wondered how using a PMS improves short-term rental performance? BookingSync take us through some data driven answers using current performance insights from France.
Since 2009 BookingSync has grown from 3 co-founders to a team spread over 17 countries, and from creating the first channel manager of the vacation rental industry to an all-in-one solution designed for private owners, property management companies with dozens of rental units and large size property managers with thousands properties under management. It is also the only software to have the top partnership levels with Airbnb, Expedia and Booking.com in the entire hospitality industry.
This growth is also visible in the success of property managers who grew their businesses assisted by PMS software like BookingSync: Luckey by Airbnb and GuestReady (ex-BnbLord) went from 100 to 2,000 properties in just 3 years working with BookingSync. Sébastien Grosjean, CEO of BookingSync, likes to say, “we are more than a platform, we are a partner”.
With the pandemic, property managers have had to be resilient and strategic with their operations. Using a PMS saves time and allows property managers to focus on delivering the best experience for their guests and owners. Let’s see how the BookingSync inventory recovered in France, their number one market, compared with market data.
Does using a PMS improves short-term rental performance
More than a recovery but a growth this summer in France?
Despite the shorter booking lead time observed globally and illustrated above, and a higher ADR (average daily rate) in France, shown below, French vacation rentals have been very in demand for travelers this summer!
We can see that over the course of the year so far, French ADR is up 5% on 2019. In fact, BookingSync user inventory saw a 23% increase through July and August compared to the same months in 2019; fairly in line with the international average.
Furthermore, the current national figure of -24% in bookings compared with the same week of 2019, whilst currently exceeding other European leaders, was as high at +2% in weeks 18 and 19.
Rural destinations were popular, big cities less so
The ADR increase in touristic, rural regions in France is huge compared to 2019. BookingSync noticed :
- a 60% increase for properties in Nouvelle-Aquitaine,
- +58% for Provence-Alpes-Côte-D’azur
- +47% for Auvergne-Rhône-Alpes.
Conversely, the average price of an overnight stay has fallen by 20% in Ile-de-France, which has suffered greatly from the absence of foreign tourists.
Thus, in the first mentioned regions, the increase in income for owners has been very impressive. There is :
- almost a 100% increase compared to 2019 for Nouvelle-Aquitaine,
- 82% for Auvergne-Rhône-Alpes
- 77% for Provence-Alpes-Côte-D’azur.
Following the same reasoning, despite a lower price per night and the drop in tourists, Ile-de-France is doing very well with 12% growth despite this difficult economic climate.
How using a PMS improves short-term rental performance
Property managers have had to be very strategic during this crucial period in order to compensate for the difficult past months for their business.
A PMS offers the possibility to set up smart prices thanks to yield management features developed internally or via pricing partner integration. Average revenue per property has increased 54% compared to 2019, and one of BookingSync’s biggest clients even reported that August was their best month ever since starting the business in 2016.
How using a PMS improves short-term rental performance: Multiple keys to the success
Major OTA bookings are still slightly depressed and so the necessity of advertising listings on several sales platforms to increase visibility and occupancy rate has been essential. This is what BookingSync and Smily offer via their platforms, which are connected to more than 1000 listing sites.
In addition to overall earning benefits, using a PMS will also save property managers time in communication with travelers and secure payment management.
With the changing travel restrictions and the strict sanitary pass in place in France from August 1st, property managers had to deal with last minute cancellations, which PMS such as BookingSync facilitate thanks to its multiple software features including price adjustment and top quality sync with channels to get last minute bookings.
As per the worldwide data, BookingSync also noticed a shorter current average length of stay compared to summer 2020 as we return to higher ADR, short-term stays, as well as big discounts for longer stays.
Will the growth persist?
The current difference in regional French reservations is quite encouraging to hope for a return to normal this autumn and winter, even though some regions do not seem to benefit from the same level of bookings (the North part of France performing well when the South is experiencing a decrease compared to 2019) :
BookingSync is already seeing bookings coming in for the holidays this Autumn as well as for the ski season this winter. It seems that the ski resorts are getting ready for a big season too …. (the Alps train company plans trains to bring British travelers to their slots!)
Increasing visibility, setting strategic prices, automating and digitizing most tasks, these are all features a PMS will offer to Property Managers and save their time to allow them to deliver the best experience to their guests and hosts while improving performances and revenues!
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