Rev Up - Volume 10 - Strong Fall! - October 2023
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Welcome back to Rev Up with the Brett/Robinson Revenue Management team!
We’ve officially seen another Summer come to a close here at Brett/Robinson! As we round out another Summer, we head into what we like to call “The Perfect Season” down here. We think it’s the perfect time to live in this wonderful slice of paradise that we all call home along the Alabama Gulf Coast.
With the Summer’s departure, we are still working to make sure that anyone who wants to visit the beautiful, white sand beaches stays in one of your properties! With the Summer coming in a little slower than the past couple of years, we opted to continue with a revenue strategy aimed at maximizing occupancy for our owners across this Fall, and we’re here to tell you that it’s working very well so far!
For the month of September, Brett/Robinson owners were occupied over 6% more than other vacation rental companies in our market! While the market saw a drop in occupancy vs. last September, Brett/Robinson owners saw a 4.5% occupancy increase vs. last September. All in all, the average Brett/Robinson owner saw over 14% more revenue this September than owners who rented with our competitors.
We’re about halfway through October at this point, with similar results to September. For the month of October, B/R rentals are up over 3% in occupancy, and 14% in revenue vs. other condo rentals in our market. For the two months, it’s been important that we have competitive rates in order to get more of the limited travelers to our area than our competitors.
The graphic below shows how we performed for September, and how we’re performing so far for October:
In a year where every booking has been tougher to get than the past two years, these bookings make a huge difference, and we’re thrilled that we are able to maximize rental revenue for your rental property! We anticipate an occupancy-first strategy into the remaining 2 ½ months of 2023, and expect that we’ll go into 2024 trying to build a strong early revenue base.
If you have any questions or suggestions on what you’d like to see us discuss here in the future, please shoot an email to us at revenuemanagement@brettrobinson.com and we’d be happy to dive in and discuss!