Here is the transcript of the video:
“Hello and welcome to the J'poster Complet channel, the channel which helps seasonal dormice and seasonal accommodation managers to become serene and ultra-profitable entrepreneurs today. We're going to talk about a subject that has generated a lot of discussion: the Olympic Games . This is a subject on which pricing is a crucial issue, at the center of debate. This is why, today, we would like to share with you our best approach to approach the Olympic Games by optimizing pricing and the optimization of your property.
We will help you to have the keys to better approach this period. I am delighted to be accompanied by Clémentine to make this video. Clémentine is a Manager within the J'annonce Complet team and is in charge of starting the collaboration and building revenue management over a year.
To begin with, a salient point over the last few months concerning the Olympic Games: certain seasonal rental players have significantly increased their prices. This sparked a reaction from journalists who started talking about incredibly high prices on Airbnb, sparking media interest around this issue. Finally, hoteliers also drastically increased their rates. This raised alarms, avoiding focusing solely on Airbnb. But the question remains: what to do in this atypical context?
It is important to remember that there are still elements to consider. Obviously, with the huge crowds expected at the Olympics (more than 12 million visitors expected), there is not enough accommodation for everyone. For example, in Paris, with 120,000 accommodations available compared to 12 million visitors expected, welcoming everyone is impossible. It is understandable to raise prices. However, not all accommodations are yet available for rental. Some hoteliers have their sales closed or are busy with group options. In addition, international customers are still quite wait-and-see. The first reservations mainly come from this clientele, having already purchased their plane tickets for the Olympics. In terms of prices, contrary to initial estimates, we observe a significant increase, far exceeding initial forecasts. For example, in the 8th arrondissement, prices are very high, while the 20th is cheaper.
In this context, our policy at J'poster Complet and our recommendations for our clients concern pricing strategy and other levers to best manage the Olympics. First of all, it is recommended to open the reservation calendar for the Olympic period and sell now to international customers, who are generally less inclined to cancel and have a higher budget. It is not recommended to close sales in the meantime, especially for short-term rentals. Then, cancellation policies can be adjusted to protect against last-minute cancellations. The idea is to opt for non-cancellable and non-refundable options, a strategy commonly used in the hotel industry. However, its implementation can be tricky depending on the platforms used. On Airbnb, managing this policy can be more complex, while with Booking it is possible to create different pricing plans. We took a more targeted approach on Booking by closing Airbnb sales during the Olympics period and offering non-cancelable and non-refundable offers. This strategy aims to secure reservations given the popularity of this period.
Regarding prices, it is advisable to stay within a reasonable range compared to the market, thus avoiding getting carried away with excessive prices. The goal is to sell now, at the right price, before other homes enter the market and prices automatically drop. It is crucial to adopt a temperate and cautious approach to avoid last-minute downward price adjustments.
Regarding length of stay, it is recommended to anticipate and encourage slightly longer stays to avoid gaps in the reservation calendar. It is relevant to encourage longer reservations, particularly for more spacious accommodation such as T4 and T5, which are less present on the market.
Beyond the pricing strategy, it is essential to closely monitor reservations, adjust strategies as needed, and stay informed about market developments to maximize revenue. Avoiding temporary promotions on goods is also recommended, and blocking these periods on platforms like Genus to avoid any price drops.
In short, the Olympic Games present a financial opportunity to be seized, but with caution. Learning from previous events like the London 2012 Olympics is crucial to not being caught off guard. Monitoring, flexibility and an adapted strategy remain the keys to optimal management of this atypical period. We hope these tips will help you navigate this time effectively. If you like our videos and our work, don't hesitate to support us by leaving a like. You can also download our library of resources and free content in the comments. We will be delighted to see you very soon in a new video. Thank you very much for your attention and see you soon. »