Supercharge your bookings
Travel is going from strength to strength, and the customer journey is now taking a different shape…
Across the world, the travel sector is in a period of transformation, and in some areas returning to pre-pandemic levels. With this, the way in which people seek and make accommodation reservations has also transformed.
A one-size-fits-all approach to a Booking.com pricing strategy no longer serves all vacation rental guests, as the travel revival is developing at different rates globally.
Recent statistics from Booking.com help to paint the current picture.
- Bookings are increasingly being made on mobile devices. In fact, 59% of all bookings made on the Booking.com platform are made via mobile, and Booking.com’s app was the most downloaded OTA app in 2021.
- 61% of platform searches are for foreign travel, an increase of 18% from 2021.
With these insights in mind, Booking.com has created two handy and highly effective pricing products, that will allow you to:
- Increase your bookings by 22% on average
- Secure revenue by targeting international travelers.
Pricing product 1: Mobile Rates
What is a mobile rate in your Booking.com pricing strategy?
A mobile rate is a special discounted rate that’s only visible when someone uses the Booking.com app or accesses the Booking.com website using a mobile browser.
By activating a mobile rate at your property, you can capture the fastest-growing segment of bookers. Interestingly, Millennials account for more than 65% of bookings on Booking.com mobile channels.
To activate mobile rates, all you have to do is provide mobile users with a special discount. This discount is offered only in the Booking.com app, or both on the app and on Booking.com website in mobile browsers.
The minimum discount is 10%, although Booking.com advises a 15% discount for optimal engagement. When activated, a unique badge will be shown next to your property in search results and on your property page. This improves visibility and it can boost your mobile booking conversion rate.
Maximize app and mobile web users
You have the option to target solely iOS/Android app users when you offer a mobile rate, but can also opt to include those using a mobile web browser. Offering both will help you reach a far wider audience!
Here are just some of the benefits of applying a combined mobile rate (for both app and mobile web browser users):
- Attract both first-time bookers looking for a great price and loyal clients who make repeat bookings.
First-time bookers use a mobile web browser to book 7 times more often than those who choose to download the app. While repeat loyal bookers find it more convenient to reserve within the downloadable app.
- Reach a wider audience.
You can reach 30% more mobile users by making your deal visible to Chrome, Safari, and other mobile browsers.
Your business benefits from a mobile rate in the following ways:
Attract more booking
More prospective guests visit your property page when you offer a mobile rate.
Stand out in searches
A unique badge will be shown next to your property in search results and on your property page.
Better price, better reviews, better ranking
Millennials make two-thirds of mobile reservations, and they also submit more reviews than any other group of travelers. Getting more of these customers can improve your overall ranking on Booking.com.
Learn how to activate, edit or deactivate a mobile rate on this page.
Pricing product 2: Country Rates
What is a country rate in your Booking.com pricing strategy?
Country rates are specific discounts you can provide to customers from your target markets. As peak travel times vary depending on the market, country rates can help you to fill gaps in your unbooked properties and keep you afloat outside of peak season. They can also help you to enter previously untapped markets.
By activating a country rate at your property you can attract guests from specific countries, increase occupancy of your properties, and grow your revenue by offering targeted discounts.
All you have to do is provide travelers from your targeted countries with a special discount. This discount is offered only to people using the Booking.com platform in the countries or regions you want to target (with an IP address matching the targeted country).
The minimum discount is 5%, and booking.com suggests a 10% discount for the best outcome. Country rates are active throughout the year, and you can choose a maximum of 30 blocked dates when they don’t apply.
*Please note that country rates are not available in certain countries due to legal or commercial restrictions.
More useful information
Country rates apply to all your rooms and rate plans. The discount adds on to existing discounts from the Genius programme (if you’re a Genius partner), as well as any other promotions you’ve set up. However, country rates do not apply to mobile rates or the Deal of the Day promotion.
Your property’s extranet page will provide customized recommendations for country rates. They can assist you in choosing the areas you might want to target to boost your revenue because they are based on data specific to your property.
Benefits overview
Secure revenue by targeting international travelers
International visitors choose to book earlier and cancel less frequently.
Get more bookings with country-specific rates
When providing a country rate (a discount) during holiday periods or market specific events, you increase the chances of your available properties to be filled.
Boost your visibility on the Booking.com site
Your property will appear higher in Booking.com search results if you provide competitive rates in highly demanded markets.
Wondering where to find these promotions in your Avantio property management software?
Easily access these promotions by going into you Channel Manager. Select the option “Channels” from the menu on the left. Then click on “Promotions”. From there, you can configure the pricing strategies you want to apply.
Want more in-depth instructions? Learn how to activate, edit or deactivate a country rates in depth.
Final thoughts
As we know, vacation rental is a highly competitive business. Booking.com knows this firsthand, and with the help of its data insights, continuously evolves and provides its products, while sharing the strategies that will help you to be on the top of the game.
By following the pricing strategies, adapting mobile and country rates, Booking.com offers you a minimum-input opportunity to
- Increase your bookings by targeting guests from specific regions
- Capture the fastest-growing segment of bookers.
Mobile and country rates are easy to set up, and you can always update the settings of the rates or deactivate them so that potential guests no longer see them.
Try out this Booking.com pricing strategy to see the difference yourself.
