For short-term rental property managers, understanding the relationship between local sports events and vacation rental pricing can unlock powerful revenue opportunities. Major sporting events — from professional tournaments to college matchups — can significantly influence demand, and with the right strategy, property owners can maximize their earnings while ensuring guest satisfaction.
In this guide, we’ll explore how local sports events affect vacation rental pricing, along with actionable strategies to optimize your rates during peak periods.
Why Local Sports Events Influence Vacation Rental Pricing
Local sports events attract large crowds, including fans, teams, media, and event staff — all of whom need accommodations. This surge in demand often drives up rental prices, especially in areas with limited hotel capacity or high tourism appeal.
Key Factors That Affect Pricing During Sports Events
Several variables determine the impact of a sports event on local vacation rental demand, including:
- Event Size: Larger events like the Super Bowl or NCAA championships draw significant demand, while smaller regional competitions may have a more modest effect.
- Event Duration: Multi-day tournaments or championships series tend to create prolonged booking windows.
- Location Proximity: Rentals closest to the stadium, arena, or sports complex tend to see the greatest price increases.
- Accommodation Supply: Markets with limited hotel inventory often see higher demand for vacation rentals during major sports events.
By recognizing these factors, property managers can develop strategic pricing models that capitalize on key dates and events.
Identify Key Local Sports Events in Your Market
To effectively adjust your vacation rental pricing, it’s essential to track major and recurring sports events in your area.
Strategies for Event Tracking
- Follow Local Sports Calendars: Monitor schedules for local teams, universities, and nearby sports venues.
- Connect with Local Tourism Boards: Many tourism offices maintain event calendars that highlight major sports gatherings.
- Build Relationships with Event Organizers: Partnering with event planners can provide early insights into expected attendance and lodging demand.
Examples of High-Impact Sporting Events
- Professional Games: NFL, NBA, MLB, NHL, and MLS matches can significantly impact bookings.
- College Sports: Major rivalry games, bowl games, or NCAA tournaments often attract traveling fans.
- Youth Tournaments: Soccer, baseball, and swimming competitions frequently draw families who prefer vacation rentals for longer stays.
By mapping out these events, you can anticipate demand spikes and adjust your pricing accordingly.
Adjust Pricing Strategies for Maximum Profits
To maximize revenue during high-demand periods, adopt dynamic pricing strategies that respond to shifts in demand. Other strategies include:
- Increase Rates Strategically: As the event date approaches, gradually increase rates to match rising demand.
- Set Minimum Stay Requirements: Multi-night stay requirements can reduce turnover while maximizing profits.
- Leverage Early Booking Discounts: Encourage advance reservations by offering discounts to guests who book months ahead of major sports events.
- Monitor Competitor Pricing: Use vacation rental data platforms like PriceLabs or AirDNA to track how competitors adjust rates for sports events.
Combining these tactics ensures you capture increased revenue without overpricing and deterring potential guests.
Create Sports-Focused Marketing Campaigns
Tailoring your marketing efforts to sports fans and event attendees can boost your booking potential.
- Highlight Proximity to Venues: Emphasize your property’s convenience to stadiums, arenas, or sports complexes.
- Promote Tailgating and Game-Day Amenities: Showcase features like outdoor grills, large TVs, or spacious gathering areas ideal for sports fans.
- Offer Event Packages: Consider adding sports-themed packages that include discounts on local transportation or game-day snacks.
Incorporating these strategies helps your property stand out to sports fans seeking convenient accommodations.
Enhance Your Property to Appeal to Sports Travelers
Tailoring your property’s amenities to align with sports travelers’ needs can improve guest satisfaction and encourage repeat bookings. Here are some recommended upgrades and features to consider:
- Fast Wi-Fi and Streaming Services: Essential for fans wanting to catch highlights or pre-game coverage.
- Extra Sleeping Arrangements: Adding sofa beds or bunk beds can accommodate larger groups of fans traveling together.
- Game-Day Essentials: Stock your kitchen with snacks, grilling supplies, and cooler space for tailgate-ready guests.
- Secure Storage for Gear: Offering dedicated storage for bicycles, golf clubs, or sports equipment can attract participants traveling with their gear.
Manage Availability for Major Sports Events
Demand spikes during local sports events can strain your booking calendar if you’re unprepared. Proactive management helps ensure you maximize revenue while maintaining operational efficiency.
- Block Key Event Dates Early: Identify peak sports weekends and adjust your calendar in advance to secure prime booking windows.
- Coordinate Cleaning and Maintenance Schedules: Ensure your cleaning team is equipped to handle back-to-back turnovers during busy event periods.
- Implement Flexible Check-In Options: Offering self-check-in services can accommodate guests arriving late after evening games.
Mitigate Risks During High-Demand Periods
While local sports events present significant revenue potential, they can also bring certain risks, including noise complaints, property damage, and unauthorized parties.
- Screen Guests Carefully: Use a trusted guest screening service like Safely’s to identify potential risks before confirming bookings.
- Set Clear House Rules: Emphasize guidelines around noise levels, occupancy limits, and property use.
- Invest in Short-Term Rental Insurance: Insurance coverage protects your property in case of damage or liability during major events.
Track Performance and Refining Your Strategy
After each sports event, review your booking data and guest feedback to refine your pricing and marketing tactics.
- Average Daily Rate (ADR): Compare your rates during sports events with standard booking periods.
- Occupancy Rates: Identify whether your property reached maximum occupancy during peak periods.
- Booking Lead Times: Determine how far in advance guests are booking to better anticipate future demand.
By consistently tracking performance, you can fine-tune your strategies for future events and achieve sustained revenue growth.
Local sports events present a valuable opportunity for vacation rental property managers to boost revenue and attract new guests. By tracking key events, implementing dynamic pricing, and enhancing your property’s appeal, you can capitalize on sports-related demand while maintaining an excellent guest experience. For more insights on optimizing your short-term rental strategy, learn more about Safely — your trusted partner for guest screening, short-term rental property insurance, and more.
