In today’s saturated vacation rental market, standing out isn’t just a goal—it’s a necessity. The Coachella Valley, with its abundance of vacation rental options, has become a battleground for bookings. As a property owner, you may have noticed that simply listing your property on platforms like Airbnb, VRBO, or Vacanza Stays isn’t enough to guarantee success anymore. The competition is fierce, and travelers have more choices than ever before.
I’m Eleazar Lua, the owner of Vacanza Stays in La Quinta, and I’ve conducted a detailed case study to understand how specific upgrades—such as adding a game room and an EV charger—can impact your property’s performance. The results are clear: properties with these enhancements attracted more guests, secured bookings further in advance, and commanded higher rates.
The Numbers Don’t Lie: August Performance Analysis
Let’s take a closer look at the performance of various properties during the month of August:
Properties with Game Room and EV Charger:
- Property A: Despite market challenges, this property saw sustained interest, generating $9,693.36 in gross bookings. The absence of a utility fee allowed for a Net Payout of $4,966.56, an increase compared to properties without these upgrades.
- Property B: Guests booked this property well in advance, with an average lead time of 108.50 days—a clear indication that these amenities are a strong draw for travelers planning their vacations early. The property maintained an occupancy rate of 32.26% and achieved a RevPAR of $194.77, outperforming others in similar locations.
Properties Without Upgrades:
- Property C: This property saw its Gross Bookings plummet from $14,676.10 in August 2023 to $3,893.47 in August 2024. The Net Payout dropped dramatically from $6,641.58 to just $1,932.66. The lack of enhancements led to a significant decline in both occupancy and revenue.
- Property D: Similarly, this property experienced a steep decline, with Gross Bookings falling from $14,535.22 to $7,835.99, and a corresponding drop in Net Payout from $8,143.14 to $3,840.70. The occupancy rate fell sharply to 22.58% in August 2024, down from 51.61% the previous year.
- Property E: Perhaps the most striking example, this property saw its Net Payout decrease from $4,418.09 in 2023 to a mere $888.98 in 2024. Gross Bookings dropped by nearly two-thirds, and the property’s ADR plummeted from $590.33 to $222.24.
Why These Numbers Matter
These figures underscore the importance of strategic investments in your property. The properties that invested in game rooms and EV chargers not only maintained their competitiveness but actually thrived in a challenging market. By contrast, those that did not make these enhancements saw their revenues, occupancy rates, and overall profitability decline sharply.
The Case for Game Rooms
A game room can transform an underutilized space, like a garage, into a major selling point. It offers guests an enhanced experience that differentiates your property from the rest. Families and groups are particularly drawn to properties with game rooms, as they provide entertainment options that enhance the overall stay. The numbers speak for themselves: properties with game rooms attracted more bookings, often at higher rates, with guests booking months in advance.
The Impact of EV Chargers
With the rise of electric vehicles, having an EV charger is becoming increasingly important. Properties with this amenity are seeing an uptick in bookings and revenue, as guests prioritize the convenience of charging their vehicles on-site. If you’re curious about how an EV charger can benefit your property, I invite you to read my detailed blog on the subject: Electrify Your Bookings.
Protect Your Investment
Your vacation rental is more than just a property—it’s a significant investment that deserves protection. The market is evolving, and the expectations of today’s travelers are changing. By making strategic upgrades, you’re not just spending money—you’re safeguarding your property’s future and ensuring it remains competitive in a crowded market.
The cost of doing nothing is evident in the numbers. Properties that haven’t adapted are losing money, and the longer you wait, the more difficult it will be to catch up. Now is the time to invest in your property’s future.
If you’re ready to take the next step, I’m here to help. I offer personalized consultation services to guide you through the process and ensure you’re making the most of your investment. Contact me today at STVR Consulting or reach out directly.
