Transformative Revenue Growth for Luxury Serviced Apartments in Central London

Industry

Short Term Rentals

Challenge

The client, a luxury serviced apartment provider in Central London, faced challenges with underperformance despite their prime quality and location. Their strategy of setting high prices far in advance led to low early bookings and a dependence on steep last-minute discounts, ultimately depressing their RevPAR outcomes.

Results

RevTech's intervention successfully captured early demand at optimal rates, resulting in substantial RevPAR improvements across various unit types. The client experienced up to a 120% increase in RevPAR for some units within just two months, with no need for operational changes or compromising their brand positioning.

Key Product

Product one, RevTech Performance+™ – Full OTA Growth & Revenue Layer

+120%

RevPAR Growth (2-Bed Superior)

+60%

RevPAR Growth (3-Bed Deluxe)

+65%

RevPAR Growth (2-Bed Apartment)

+22%

RevPAR Growth (1-Bed Superior)

We didn't want to compromise our brand positioning with discounting. Now, we don't have to.

About our Customer

Our client is a leading provider of high-end serviced apartments in Central London, offering stylish, design-led accommodation under a discreet and trusted brand. With a focus on comfort, elegance, and seamless guest experiences, their properties are a preferred choice for extended stays, business travellers, and relocating professionals.

While the brand prefers to remain anonymous, it is known for combining architectural charm with contemporary living across multiple prime London locations.

The Challenge

The client, a renowned provider of luxury serviced apartments in Central London, struggled with maximising their revenue potential. Despite offering top-tier quality and a prime location, their revenue strategy was flawed. They priced their units too high too early, leading to low early booking volumes. Consequently, they had to rely on steep last-minute discounts to fill vacancies, which resulted in overall depressed RevPAR outcomes.

The Solution

Upon recognising the client's challenges, RevTech implemented a dual-pronged approach. This involved targeted enhancements to boost visibility on key OTAs and real-time market data analysis to recalibrate pricing curves. This strategic intervention aimed to capture early demand at optimal rates. The client appreciated that they could maintain their brand positioning without resorting to discounting. As one client representative stated, 'We didn't want to compromise our brand positioning with discounting. Now, we don't have to.'

The Results

RevTech's strategy yielded impressive results within just two months. The client saw a significant increase in RevPAR across various unit types: a 120% increase for 2-Bed Superior units, a 60% increase for 3-Bed Deluxe units, a 65% increase for 2-Bed Apartments, and a 22% increase for 1-Bed Superior units. These improvements were achieved without the need for last-minute discounts or operational changes, demonstrating the efficacy of RevTech's approach.