Latest / Host Planet: Airbnb, Holiday Let, and Vacation Rental Insights / UK STR Outlook: Late Bookings, Channel Mix & Pricing Discipline

Transcript

UK STR Outlook: Late Bookings, Channel Mix & Pricing Discipline · Host Planet: Airbnb, Holiday Let, and Vacation Rental Insights

• 0:00
  So demand is flatter and we're seeing rates holding up.
• 0:03
  So it's not all doom and gloom at all.
• 0:06
  It's not the heydays post covered where there's lots of
• 0:08
  demand and not enough supply and you could pop your rates and
• 0:12
  hold firm and be confident that the booking would come in.
• 0:15
  Now we're saying we need to be really dialed into your
• 0:18
  particular market, understand your portfolio, and you've just
• 0:21
  got to work a bit harder to get those bookings coming in.
• 0:24
  What is happening in the UK's short term rental industry?
• 0:28
  A late bookings, the new normal? Will rates improve in the lead
• 0:32
  up to Christmas? And why are OTAs like Airbnb and
• 0:36
  booking.com dominating the STR landscape?
• 0:40
  Sally Henry from Key Data will be answering all these questions
• 0:43
  and more on today's House Planet podcast.
• 0:51
  Sally, thank you for joining us on the Host Planet podcast.
• 0:54
  The latest UK key data index is out.
• 0:57
  We covered it in a recent newsletter and this line stuck
• 1:01
  out to me. The broader outlook points to a
• 1:03
  low growth environment where pricing and channel strategy are
• 1:07
  critical to sustaining performance.
• 1:10
  Tell us what's happening in EU, KS, STR industry in 2025
• 1:15
  already? Well, James, thank you so much
• 1:17
  for having me again. So yeah, our index report is out
• 1:20
  and again, it is industry averages, but there's some huge
• 1:23
  trends that we're seeing that I would urge all property managers
• 1:27
  or hosts operating and short term rental industry in the UK
• 1:30
  to read this and and take notes. So understand what some of these
• 1:34
  market demands are that are coming through.
• 1:35
  So what we mean by that is that the index report is measuring
• 1:39
  how you know what revenue or what demand is coming through
• 1:42
  compared to last year or last month.
• 1:44
  And we're seeing it pretty flat. So what that really means is
• 1:47
  demand is flat or it's flatter than we've seen.
• 1:50
  So our occupancy is is either slightly depressed or flat,
• 1:56
  which means if you're a property manager or a host, your share of
• 1:59
  any demand is becoming a bit more marginal.
• 2:02
  So demand is flatter and we're seeing rates holding up.
• 2:07
  So it's not all doom and gloom at all.
• 2:10
  There will be some property managers in the host who are
• 2:12
  outperforming the market and getting more than their fair
• 2:14
  share of this demand. But it means that effectively,
• 2:18
  it's not the heydays post COVID where there's lots of demand and
• 2:21
  not enough supply. And you could, you know, pop
• 2:24
  your rates and hold firm and be confident that the booking would
• 2:27
  come in. Now we're saying we need to be
• 2:30
  really dialed into your particular market, understand
• 2:33
  your portfolio, what you're expecting to come in and you've
• 2:36
  just got to work a bit harder to get those bookings coming in.
• 2:38
  The market is still there. And but it is, it's you needing
• 2:42
  to use more tools than ever to make sure you grab your demand
• 2:45
  of that market. And to your point, I know we'll
• 2:47
  get on to this, it's coming in later.
• 2:49
  So how do you arm yourself with the right information to be able
• 2:53
  to have the confidence to either talk to your peers, your company
• 2:57
  or your homeowners to say this is what we're expecting to come
• 3:00
  in, don't you worry, we understand.
• 3:02
  We can see what's happening and whole firm hold, you know, so
• 3:08
  it's a flatter market day, which is what we're saying now.
• 3:10
  So there is room to go and grab that demand, but it is harder
• 3:14
  than it has ever been. OK, real talk now.
• 3:16
  For all you hosts out there. You know that moment.
• 3:19
  When you guest messages you again with hey, what's the
• 3:22
  Wi-Fi? Code or you're staring at 5
• 3:25
  different calendars wondering. If you've accidentally double
• 3:28
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• 3:31
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• 3:35
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• 3:38
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• 3:41
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• 3:45
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• 3:48
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• 3:51
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• 3:56
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• 3:58
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• 4:12
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• 4:20
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• 4:21
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• 4:24
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• 4:26
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• 4:29
  Less stress. More bookings sorted with
• 4:33
  hopefully. You referenced it there and it's
• 4:35
  something that we LED with in the newsletter.
• 4:37
  We said is later bookings the new normal?
• 4:41
  That's, I mean, I've only got a couple of properties, but this
• 4:43
  is something that I've seen over and over again, certainly the
• 4:46
  last year or two is that people are booking on the day, the day
• 4:49
  before, very late when they arrive.
• 4:52
  Yeah. So it's probably depends on a
• 4:54
  couple of things, depends what sort of property you have.
• 4:56
  Obviously if you have a property that is very scarce in supply,
• 4:59
  so either really large amazing sea views or something where you
• 5:02
  can command that earlier Booker, then you should still be able to
• 5:06
  command that Booker that is planning in advance.
• 5:09
  But if you are just, I suppose if your portfolio is one that
• 5:13
  has adequate supply around, consumers are waiting longer.
• 5:16
  They're not making their decisions as early.
• 5:19
  They're waiting before they book.
• 5:20
  They're hoping that prices will come down.
• 5:23
  And I think it also, if you just look around the macro and
• 5:25
  geopolitical factors that everyone is getting hit with at
• 5:28
  the moment, people are just just holding, holding out a little
• 5:32
  before they're making those decisions.
• 5:34
  Some of it is we're waiting for the budget in the UK and I don't
• 5:36
  think anyone's expecting us to feel flush after that with
• 5:39
  additional money in their pockets.
• 5:42
  But equally, people are discerning with how they're
• 5:45
  spending it. And effectively it's probably
• 5:48
  2-2 traits rolled into one. If you're going away and you
• 5:52
  sort of say, right, I want some effort this weekend, it could be
• 5:54
  weather related, it could just be we have the time or you feel
• 5:56
  confident that you have the disposable income.
• 5:59
  But if you're going like close to it, you're probably going to
• 6:01
  book for shorter. You're not quite as dialed in to
• 6:04
  where you're staying. So it's more spontaneous.
• 6:07
  So the market is there. How do you grab that?
• 6:10
  But some of that really pre planned element of booking isn't
• 6:14
  as nailed in. So some of the habits we used to
• 6:16
  always see are not quite as prevalent now.
• 6:19
  And it's just how we manifest and change to make sure that we
• 6:22
  can adapt to that and change those expectations for when
• 6:25
  these bookings are coming in. You mentioned before as well
• 6:28
  that rates are holding or even increasing a little bit.
• 6:32
  Anecdotally, from speaking to people in the industry, this
• 6:35
  seems to be because costs have gone up everywhere, you know,
• 6:38
  mortgages, energy bills, all that kind of thing.
• 6:40
  And how some property managers are thinking, well, if I am
• 6:43
  going to get a booking, I'm going to make sure that it's
• 6:45
  worth my while. Is, is this more to do with it
• 6:48
  than any kind of other market forces?
• 6:51
  I think that's really important. I think you have to decide what
• 6:54
  is your, what are you willing to sell your short break or week
• 6:57
  for? You know what, what are your
• 6:59
  costs that you factor in? But I think it also is this
• 7:02
  blend of the way people book and we know there is a contracting
• 7:06
  and a a pressure on prices as you get closer to departure
• 7:09
  because like, OK, we, you know, we want to catch that late
• 7:12
  booking. But a lot of the OTAs are
• 7:14
  capturing the late bookings and they are, they're very good at
• 7:18
  serving the right prices, the right properties to that search
• 7:21
  demand. And they also have their
• 7:23
  promotion. So that's almost helping capture
• 7:25
  the guest, but it's also pressuring those prices down as
• 7:28
  well, which is why I think we're seeing people hold their nerve a
• 7:31
  little longer as especially as we're heading into the autumn,
• 7:34
  those rates are holding up. But that's really the only thing
• 7:37
  pushing revenue up for companies and for hosts at the moment
• 7:40
  because occupancy is pretty flat.
• 7:42
  So to be able to push up their revenue or Rev par, they need to
• 7:45
  hold those rates firm. And it takes discipline to make
• 7:48
  sure you are holding them. But I think as long as hosts and
• 7:52
  property managers are making a conscious decision as to are
• 7:55
  they willing to drop their rates, could they have dropped
• 7:57
  their rates? You don't want to look back and
• 7:59
  wish you'd done something. But I think making a decision
• 8:02
  for what's right for your property is fine.
• 8:03
  It's just arm yourself with the right information so you
• 8:06
  understand what the market forces are, are demanding, shall
• 8:09
  we say. So in a low growth environment
• 8:13
  then what are the top pricing and channel strategy mistakes
• 8:17
  that you're seeing and what are the top fixes that you think
• 8:21
  House should be implementing this quarter?
• 8:24
  Yeah, I think we use the word in the report using price agility.
• 8:28
  Things are changing daily. And again, I've, I've been
• 8:31
  travelling quite a lot lately, speaking to a lot of property
• 8:33
  managers and they're saying they are getting same day arrival
• 8:36
  bookings. So the first of all is, have you
• 8:38
  opened up your inventory to be booked late?
• 8:40
  Can you accept the Super late bookings?
• 8:42
  And you want to. Another is we're seeing this
• 8:44
  length of stay contracting. So make sure you've priced for
• 8:48
  shorter lengths of stay. So even if you didn't want to
• 8:52
  accept A1 night booking, you can still price it as a two or three
• 8:55
  night. But make sure you're going onto
• 8:57
  the channels and making sure you get those eyeballs on because
• 9:00
  some people do search and people are lazy and they search one
• 9:03
  night or two nights because that's really what they'd like.
• 9:06
  So it's not always price based. Sometimes it's people don't want
• 9:09
  to stay as long as some of those minimum level stays that have
• 9:12
  been set. So it's all about making sure
• 9:14
  you can stand out in a very crowded marketplace.
• 9:19
  So some of it is price, some of it's are you visible and
• 9:22
  available to be returning results, if you like, for guests
• 9:26
  and what they're searching for. And the other is make sure
• 9:29
  you've optimized your listing, which sounds crazy and I think I
• 9:33
  said it last time I was on like mystery shop yourself.
• 9:35
  Have you got the best description?
• 9:37
  Have you got all your reviews attached to your property?
• 9:40
  Have you got the best photos? Have you switched your photos
• 9:43
  for different seasons? Have you put a photo in of your
• 9:46
  pet if it's pet friendly or kids if it's kid friendly?
• 9:49
  So I think there's an awful lot of the way people search as well
• 9:52
  is changing. So trying to give as much to the
• 9:56
  description of your properties is where you should also invest
• 9:59
  to stand out. Yeah, couple, I'm going to give
• 10:02
  a couple of shout outs here, like in terms of visibility
• 10:04
  there. So Bart Young late from auto
• 10:07
  rank, he said even if you don't want to offer one night stays,
• 10:11
  make them available, put them at $10,000 a night because you'll
• 10:15
  have more visibility on the OTAs and for the rest of the time
• 10:18
  when your price is a lot lower, you'll get rewarded for being a
• 10:21
  little bit cheaper. And then Alex Usner from Alex
• 10:25
  and Annie podcast over in the States, she said she was on a
• 10:29
  panel recently and she asked the big property managers there,
• 10:33
  when was the last time you tried booking your own place through
• 10:35
  your own direct booking website? And all of them said, I haven't
• 10:38
  done it. So that's maybe a place to
• 10:41
  start, you know, look at your own booking flow and see what
• 10:43
  improvements can be made. Another interesting theme in the
• 10:47
  report is the continued OTA dominance, Airbnb and
• 10:52
  booking.com continuing to grow, often at the expense of direct
• 10:55
  bookings. What's happening exactly that, I
• 10:59
  mean, I hear an awful lot of talk about we need to do more
• 11:02
  direct. So amongst property management
• 11:05
  companies in particular, they're like we want more direct.
• 11:07
  The data is showing that that's not happening.
• 11:09
  They're still losing share to the OTAs and the OTA growth.
• 11:12
  booking.com and Airbnb in particular is prevalent and all
• 11:16
  around. So what are they doing?
• 11:18
  Probably nothing. But how can they compete against
• 11:23
  some of these huge platforms that are adapting all the right
• 11:27
  policies to understand and how consumers are wanting to to sort
• 11:31
  of book our product? They're excellent at servicing
• 11:34
  the right content to them and the right properties.
• 11:38
  They're very smart. They're using AI to deal with
• 11:40
  all the boring stuff and they're coming good and, and focus.
• 11:43
  You know, they're also spending an awful lot on brand marketing.
• 11:47
  They're, you know, they're doing the sponsorship of the Olympics
• 11:51
  and the football. And you know, they are helping
• 11:53
  raise the bar of of short term rentals for us as an industry,
• 11:57
  but it also means that they are really focused on giving that
• 12:00
  guest a seamless check out, taking away those pain points,
• 12:03
  making it almost a one click. It's a bit like when I go on
• 12:06
  Amazon, I buy something every day.
• 12:07
  It's like it's too easy. But you know, they're trying to
• 12:10
  almost get to that place where it's just super easy.
• 12:12
  They've got the trust of many guests.
• 12:16
  So how to compete against that is difficult.
• 12:20
  If I was a property manager, I'd be really focused on the local
• 12:23
  side of things. So how do they really write up
• 12:26
  genuine authentic content around their property and their
• 12:31
  location servicing the best bakeries and the things that you
• 12:35
  don't necessarily get at that broader level.
• 12:38
  So I would be really dialled into one, welcome the guests
• 12:43
  when they arrive and can you convert them to a long time
• 12:46
  Booker into your brand? But also that authentic angle
• 12:50
  because the way people search is going to change, as we all know
• 12:53
  through AI and people might work, you know, type in I want
• 12:56
  XYZ in in a way that's not as curated as it is now, much
• 13:00
  freer. So I do think that property
• 13:02
  managers and hosts can actually go out and try and really focus
• 13:05
  on the bit they're brilliant at, which is hosting in person in
• 13:09
  the small environment that they know, they know it, you know,
• 13:12
  authentically as opposed to being a number on a on a large
• 13:16
  platform. Sales struggle to compete there.
• 13:19
  Yeah. I mean, their content visibility
• 13:21
  with AI, large language models like ChatGPT is going to get so
• 13:26
  much more important. And I think, you know, your
• 13:28
  visibility as a property manager, you need to be seen on
• 13:31
  different platforms and being sighted there.
• 13:33
  And this might be, you know, local news websites, it might be
• 13:37
  the local Chamber of Commerce, you know, social media channels.
• 13:41
  So those citations and mentions on other sites are just going to
• 13:44
  get more and more important, even more important than they
• 13:46
  are now with Google backlinks and that kind of thing.
• 13:49
  So yeah, definitely something to, to focus on.
• 13:52
  Um, what's a realistic direct OTA channel mix?
• 13:57
  Do you think that advantages should be targeting is, is there
• 14:01
  a sweet spot as we get towards 2026?
• 14:04
  It's really hard because we have some clients that are 100%
• 14:07
  direct. I have some clients that are
• 14:09
  100% ATAI think it depends on the nature of your business.
• 14:12
  So if you are focused on all the operation and and the cleaning,
• 14:16
  that's maybe where your focus is and where you add the most value
• 14:20
  in, in the service you're providing for your homeowners
• 14:24
  versus do you have a sweet spot for marketing who are really
• 14:28
  specialised in it. So I think it's about
• 14:30
  understanding. I think one of the
• 14:31
  preconceptions is that direct is free and unfortunately it's not.
• 14:36
  It takes investment. So whether it's investment in
• 14:38
  content, in SEO, in Google paid search, it isn't free.
• 14:43
  So one is understand what your channel cost is, is would be the
• 14:47
  first thing. So you have your Commission
• 14:49
  versus whatever your direct booking cost is and then work
• 14:52
  out where you want to focus because you might be happy to
• 14:55
  use the channels for really late bookings and say that you're not
• 14:58
  going to be out there on keywords for the really late
• 15:00
  stuff. You want to try and try and
• 15:02
  bring in that earlier. So I would say understand the
• 15:06
  value of each booking, understand your channel.
• 15:09
  So some channels may bring in a booking first.
• 15:11
  Can you convert them to a lifetime value when they book
• 15:14
  again with you twice? Because then you should be
• 15:16
  baking that back into your cost, your, if you like your
• 15:19
  Commission costs. So I would urge a healthy mix is
• 15:22
  probably the safest way to put it.
• 15:25
  Have every lever you have ready to push because of push and
• 15:28
  pull. Because as you're going into a
• 15:29
  late market, you might really need those OTAs to bring in that
• 15:32
  late demand because you may be trying to just get occupancy up
• 15:36
  for owners. Another, you might be in a
• 15:38
  different life cycle for your business.
• 15:39
  And actually you don't want the occupancy, you're just chasing
• 15:42
  the revenue. So everyone will be at a
• 15:43
  slightly different life stage in terms of what they need.
• 15:47
  So I think have a mix and understand the value that each
• 15:51
  channel brings to you and make sure you are using the channels,
• 15:55
  not letting the channels dictate what you do.
• 15:58
  Make sure you're dictating what happens on those channels.
• 16:00
  That's a really good point, isn't it?
• 16:02
  Direct bookings are not free and you know that 15.5% that you're
• 16:06
  giving to Airbnb or 18% that you're giving to booking.com.
• 16:09
  If you're spending that getting direct bookings, then there's a
• 16:13
  genuine question is, you know, is, is there a point to this?
• 16:16
  If, if it's costing you more to get the direct bookings than
• 16:18
  than it would be from, from the OTAs?
• 16:21
  What are we looking at in terms of rates then for the rest of
• 16:26
  2025, I don't know if you've got much data about where we're
• 16:28
  looking kind of early 2026. What should host and property
• 16:32
  managers expect to see for the price of their rentals the
• 16:36
  moment they're holding stronger? So as we get closer, rates are
• 16:41
  holding, they always come down as we get closer.
• 16:43
  We see that in the data. But I think rate discipline is
• 16:46
  really important. And knowing the value and what
• 16:48
  are your operational costs for some of these shorter breaks?
• 16:51
  Have you priced accordingly? So, you know, adjusting your
• 16:55
  rates to understand what any additional costs might be is
• 16:58
  really important as well. So rates are holding firm right
• 17:01
  now and they will come under pressure.
• 17:04
  You'll know yourself judging by what is around you and what your
• 17:08
  portfolio mixes is. Can you hold those strong?
• 17:10
  We know with a later market coming in versus do you need to
• 17:13
  be more competitive? So again, it's about
• 17:16
  understanding the landscape. I've been looking to October
• 17:18
  half term. I'll be seeing what the weather
• 17:20
  looks like, seeing what's happening in the world, see what
• 17:22
  the budget's coming out. So there's lots of different
• 17:25
  factors to weigh up to say, do you need to be as a price
• 17:28
  sensitive market? Do you need to be more
• 17:30
  competitive for your area with your portfolio to do your rates?
• 17:34
  But just be aware, make the decision, don't look back and
• 17:37
  say I wished I'd done something. We've mentioned the booking
• 17:41
  windows shortening and it's something I think everybody in
• 17:44
  the UK and probably globally has been experiencing.
• 17:48
  What tactics do you think move the needle the most?
• 17:52
  Is it length of stay, discounts, flexible cancellation, mobile
• 17:56
  only offers last minute packages?
• 17:58
  What, what can help you get those bookings, any mix?
• 18:02
  I mean, the Holy Grail is to get the early bookings because they
• 18:04
  stay longer and they pay more. So that tends to be through your
• 18:07
  direct channels. Or if you look at Verber as a
• 18:09
  channel, they have the highest ADR and the longest length of
• 18:13
  stay and the longest booking window.
• 18:15
  So look for other channels that can potentially add add that
• 18:19
  value to your booking mix and obviously making sure you've
• 18:23
  utilized all your own channels coming through which it's, I
• 18:27
  know it sounds crazy, but have you gone out to every guest and
• 18:30
  said you but this laugh this time last year, you'd already
• 18:32
  booked. We've got some great offers And
• 18:35
  do you want to do some early bird?
• 18:36
  Because you know, even if you offered a small discount for
• 18:39
  early bird, it would probably less than the contracting that
• 18:41
  would come on to your rates for a late Booker.
• 18:43
  So I think again, it's understanding what you what is
• 18:45
  right for your portfolio. But again, some channels bring
• 18:49
  in the earlier bookers fine nose.
• 18:50
  So Vivo is definitely one of them that potentially be some
• 18:53
  other partnerships that you can tie up with.
• 18:56
  And then the other is have you utilized your own assets as
• 18:59
  strongly as you can with some of those earlier bookings?
• 19:02
  Because that is in your control to go out and speak to those
• 19:05
  guests and also educate your owners, right.
• 19:08
  So as long as your owners are on board and they understand what
• 19:11
  the market is expected and you just keep them educated, that's
• 19:15
  part of it. I think a lot of the pressure
• 19:17
  from owners becomes very real and then you go and chase the
• 19:20
  rates to try and get the occupancy to tip the box because
• 19:23
  you want to keep, you know, retain all your owners.
• 19:26
  So some of it is about an honest conversation about what the
• 19:28
  market is is dictating right now as well.
• 19:31
  What are we expecting from Christmas and New Year?
• 19:34
  These are times where we expect to get decent bookings and
• 19:37
  decent rates And, and how should hosts and property managers be
• 19:41
  preparing for this time of year? What we'd expect right now is
• 19:44
  some of those larger properties will be booked up already
• 19:46
  because people are having to plan to get multiple families
• 19:49
  together in generations. And the same with the new year.
• 19:52
  I leave it every year for new year and I'm not surprised I
• 19:55
  can't find something for 15 of us.
• 19:57
  And it's like, OK, I'm in the industry, it's my own fault.
• 20:00
  Again, I think you see understand how.
• 20:03
  How the holiday season falls for you and your area with your
• 20:06
  local schools. Like have you got the right
• 20:08
  days? So your start dates might have
• 20:10
  to adapt to make sure you're can capture some of that demand.
• 20:14
  And again, it's a price conscious time.
• 20:15
  So obviously all the imagery around getting everyone together
• 20:19
  and open fires and surfacing some local content of near the
• 20:24
  you know, you're near the local pub or all these are brilliant
• 20:26
  winter walks. Bring it to life for people.
• 20:29
  It's gives them that inspiration to to book because some people
• 20:32
  will be very curtailed again and need to go to a certain
• 20:35
  destination because we're getting a family together and
• 20:37
  they'll be, they'll be very certain about what they need and
• 20:40
  it needs a number of bedrooms versus let's inspire people to
• 20:43
  get away and have that family connect time.
• 20:47
  You mentioned in the report as well that STRS are outperforming
• 20:51
  hotels regionally, especially in Scotland and Wales.
• 20:55
  So what's unique about those markets?
• 20:58
  I think I've got an idea. Oh, I mean, if you look at the
• 21:02
  whole hotel, I think it was Q2 arrivals.
• 21:04
  So I think Rev par for hotels was down -7 across the UK, which
• 21:10
  you know is in contrast to what we're managing to have positive
• 21:13
  Rev par in short term rentals. And some of it is around
• 21:17
  affordability, about authentic enjoying.
• 21:20
  It's sort of an authentic and it's, it's also around supply.
• 21:22
  So what supply is there in a particular location and how
• 21:27
  should the market be reacting to to attract that guest?
• 21:31
  If you look at Wales in particular, obviously homeowners
• 21:34
  are trying to chase that six months occupancy of the year.
• 21:37
  So they're very dialled in and they're, you know, they're savvy
• 21:40
  and they're using data to understand how they need to
• 21:43
  reach that threshold. And in Scotland, obviously we've
• 21:47
  seen we've seen short term rentals sort of the supply
• 21:50
  people, you know losing licenses or less supply there.
• 21:54
  So those that are still there are commanding, you know some of
• 21:57
  those better rates. So a lot of it is some of the
• 22:01
  market factors around. But I think generally overall
• 22:04
  with it, we are seeing short term rentals out out supply or
• 22:08
  outperform short term rentals. So simple message then what's
• 22:13
  the playbook for maybe the the 50 plus property managers whose
• 22:18
  occupancy and revenue are struggling a little bit.
• 22:21
  What can they do to turn things around?
• 22:23
  Make sure you've got on every channel you can.
• 22:26
  Make sure you have understood all the pricing in your
• 22:29
  competitive set. So it could be short term
• 22:31
  rentals, it could be other hotels, it could be alternative
• 22:34
  accommodation as well. So understand your environment,
• 22:38
  whether it's macro, it could be things you can't do anything
• 22:40
  about. And then understand your feeder
• 22:42
  markets and your profile of customer that's coming to book
• 22:44
  so that you can say, you know, have the way they consume media
• 22:48
  changed? You know, is it a younger
• 22:50
  demographic that you're bringing?
• 22:51
  Should you be on some of the social media channels like
• 22:54
  TikTok and inspiring people or Instagram?
• 22:57
  So I think understand your market and understand your
• 23:00
  potential bookers is really the starting point because the the
• 23:04
  traveller behaviors are shifting so quickly.
• 23:07
  And then again, see what's happening on the Atas, even if
• 23:10
  you use them or not, they're really good ground force to
• 23:12
  understand what what's happening in the market right now.
• 23:15
  We will put a link to the report in the show notes.
• 23:18
  Of course, just before you go, Sally, give us the lowdown on
• 23:21
  key data. So we continue to expand.
• 23:25
  We keep bringing out new dashboards and tools every
• 23:29
  single week. So the team are very dialled in.
• 23:32
  We've got 15,000 property managers feeding in who give us
• 23:35
  feedback. So we're constantly evolving and
• 23:38
  we're constantly trying to give tools that help property
• 23:42
  managers understand what's happening.
• 23:43
  So some of these things we've talked about like we have a new
• 23:46
  and called enhanced benchmarking, which means you
• 23:48
  can go and see if we're looking at Cornwall, say which channels
• 23:50
  are performing in Cornwall and then you can see how that
• 23:53
  compares to your own channel performance in Cornwall, which
• 23:56
  feeder markets are performing in Cornwall?
• 23:58
  How does that compare with your own?
• 24:00
  When are they booking? So are they booking two weeks
• 24:02
  out, six months out? Have I missed that boat for that
• 24:05
  feeder market? So there's a huge amount of data
• 24:07
  in there that you can you can access through Key Data and we
• 24:11
  try and make you access tools that will help you make
• 24:14
  decisions for your business. Superb.
• 24:16
  And we'll put a link to Key Data in the show notes as well.
• 24:18
  Sally, it's been a real pleasure as ever.
• 24:20
  Thanks for joining us on the Host Planet podcast.
• 24:23
  Thank you so much for having me. See you later, James.
• 24:25
  Great to chat to Sally Henry there from Key Data.
• 24:28
  Check the link in the show notes for access to their latest
• 24:31
  report. All right, that's it for today's
• 24:33
  show. Remember, this podcast is
• 24:34
  brought to you in collaboration with House Philly, which is
• 24:37
  trusted by short term rental professionals across the globe.
• 24:40
  As a House Planet listener, you get 2 exclusive offers $500 off
• 24:45
  on boarding for Housefullies property management software.
• 24:48
  Just use the code Planet 530% of digital guidebooks for life use
• 24:54
  the code Hostplanets GB. To grab these deals, click the
• 24:58
  link in the show notes or head to housefullie.com.
• 25:01
  For more free education tips and trends for the STR industry,
• 25:05
  visit Houseplanet dot club where you can sign up for our
• 25:08
  newsletter, listen to our podcasts and download a suite of
• 25:11
  ebooks for hosts and property managers.
• 25:14
  That's it for today's episode and some till next time, happy
• 25:17
  hosting.