How to Leverage Local Events to Drive STR Bookings
Local events, such as festivals, conferences, and sports tournaments, are powerful drivers of short-term rental (STR) demand. Positioning your property as the ideal accommodation for event attendees can significantly increase bookings and revenue. This article explores strategies for leveraging local events to attract guests, optimize pricing, and stand out in a competitive market.
Why Local Events Matter for STR Success
1. Drives High Demand
Events attract large numbers of visitors, often filling up hotels and creating overflow demand for STRs.
2. Justifies Premium Pricing
Guests are often willing to pay higher rates for convenient proximity to event venues.
3. Expands Your Target Audience
Events bring a diverse range of travelers, from families and groups to solo attendees.
4. Encourages Repeat Business
Exceptional stays during events can lead to repeat bookings for future visits.
Strategies to Leverage Local Events
1. Identify Key Local Events
Understanding your local event calendar is the first step to capitalizing on these opportunities.
How to Identify Events:
Research annual festivals, concerts, and sports tournaments.
Monitor trade shows, business conferences, and conventions.
Stay updated on smaller community events, such as farmers' markets or parades.
Pro Tip:
Use local tourism board websites and event platforms like Eventbrite to track upcoming events.
2. Optimize Your STR Listing
Tailor your listing to appeal to event attendees by highlighting relevant features.
What to Highlight:
Proximity to event venues or public transportation.
Amenities catering to specific audiences, such as families or business travelers.
Unique features like large group accommodations or parking availability.
Example Listing Update:
“Perfect for festival-goers! Our property is just a 10-minute walk from [Venue Name], with free parking and a cozy outdoor space to unwind after the event.”
Pro Tip:
Use event-specific keywords in your listing title and description, such as “near [Event Name].”
3. Adjust Pricing for Event Dates
Dynamic pricing is essential for maximizing revenue during high-demand periods.
How to Set Prices:
Research competitors’ rates for similar properties during the event.
Increase rates for peak event dates, but remain competitive to attract bookings.
Offer tiered discounts for longer stays surrounding the event.
Pro Tip:
Use pricing tools like PriceLabs or Beyond Pricing to automate adjustments.
4. Create Event-Specific Packages
Attract bookings by bundling your STR with value-added perks tailored to the event.
Examples of Event Packages:
Concerts: Include a picnic basket or snacks for outdoor events.
Sports Tournaments: Provide local team merchandise or pre-game snacks.
Business Conferences: Offer a workspace setup and high-speed Wi-Fi.
Pro Tip:
Promote these packages in your listing and on social media to capture attention.
5. Promote Through Social Media
Leverage the power of social media to connect with event attendees.
How to Use Social Media:
Share posts about the event and highlight your property as the ideal accommodation.
Use hashtags related to the event, such as #[EventName] or #[CityNameEvents].
Run targeted ads aimed at travelers attending the event.
Pro Tip:
Collaborate with local influencers or event organizers to amplify your reach.
6. Partner with Local Businesses
Collaborations with local businesses can make your STR more appealing to event attendees.
Partnership Ideas:
Offer discounts at nearby restaurants or cafes for your guests.
Partner with event organizers for exclusive access or VIP perks.
Provide vouchers for transportation services like rideshares or shuttle buses.
Pro Tip:
Include details about these partnerships in your listing and guest welcome guide.
Enhancing the Guest Experience During Events
1. Provide Local Insights
Help guests make the most of their event experience by offering insider tips.
What to Include:
Best routes to the venue or parking tips.
Recommendations for nearby dining options before or after the event.
Suggestions for other attractions or activities in the area.
Pro Tip:
Create a digital guidebook with event-specific details for easy guest access.
2. Offer Flexible Check-In/Check-Out Times
Cater to event attendees with schedules that may not align with traditional check-in/out times.
How to Implement Flexibility:
Allow early check-ins for daytime events.
Offer late check-outs for guests attending evening events.
Pro Tip:
Highlight flexible policies in your listing to attract event-goers.
3. Add Event-Themed Touches
Small details can make your property stand out and enhance the guest experience.
Examples:
Welcome gifts related to the event, such as local souvenirs or event-themed snacks.
Event-specific decorations, like team colors for sports tournaments.
Branded welcome notes with event schedules or tips.
Pro Tip:
Include a section in your guest welcome guide about the event’s history or significance.
Case Studies: Success Stories from Event-Driven STRs
1. Festival Home in Austin, TX
Challenge: Competing with hundreds of STRs during SXSW.
Solution: Highlighted the property’s walking distance to venues and offered a welcome kit with energy bars and maps.
Result: Secured early bookings at 25% higher rates than the previous year.
2. Coastal Retreat in Florida
Challenge: Attracting guests for an annual seafood festival.
Solution: Collaborated with local vendors to offer free event tickets and dining discounts.
Result: Fully booked two months in advance with multiple repeat guests.
Common Mistakes to Avoid
Failing to Update Listings
Not mentioning event relevance reduces your property’s visibility.
Solution: Regularly update your listing to align with local event calendars.
Overpricing Without Added Value
Charging premium rates without offering event-specific perks can deter bookings.
Solution: Justify higher prices with thoughtful touches and convenience.
Ignoring Local Partnerships
Missing out on collaborations reduces opportunities to enhance guest experiences.
Solution: Proactively reach out to businesses and organizers for partnerships.
Conclusion
Leveraging local events is a highly effective strategy for driving STR bookings and increasing revenue. By aligning your property’s features, pricing, and marketing with event attendees’ needs, you can position your STR as the go-to accommodation. Combine event-specific packages, social media promotion, and thoughtful touches to create a standout experience that guests will remember and recommend.
