What a glorious summer we were treated to this year! We even got an extra day to make it last a wee bit longer. We hope you've enjoyed a prosperous summer season and still seeing plenty of visitors in your neck of the woods! To kick off autumn we are sharing:
A new eBook on How to Work with Online Travel Agents
The latest ResBook Community news - Airbnb, GST and Windcave
Customer Spotlight: Ara Roa Villas
Most popular Knowledge Base articles in February
Our latest Business Intelligence data for 2023 & the start of 2024
eBook: How to Work with Online Travel Agents
Global booking websites (also known as online travel agents) like Booking.com, Airbnb, Expedia and VRBO attract billions of dollars worth of bookings every year for all styles and levels of accommodation.
We've created this handy guide on how to work with Online Travel Agents (OTAs) for those who haven't delved into the world of OTAs yet or if you want to brush up on best practices. This guide explains why and how OTAs can help your business, and the technology you need to get set up.
Guest fees on cross-currency bookings in Airbnb will be increasing from 1 April 2024. If you have a split-fee structure with Airbnb, your guests who pay in other currencies, will see an increase of their guest service fee. The current charges are up to 14.2% of the booking value, and will increase to up to 16.5%.
New GST Rules for International Accommodation Websites
As of 1 April 2024, international online platforms that sell short term accommodation in New Zealand, like Airbnb, will be required to charge GST on bookings. Despite National campaigning pre-election that they would scrap the new rules, the coalition government has now confirmed it will proceed.
How does this affect accommodation hosts?
Whether you are GST registered or not, it will affect you in some way. Refer to the links below for information that may be of assistance, and we recommend you discuss this with your accountant to understand the implications for your business.
If you use Windcave as an online option for the payment of your Xero invoices, you will have heard from Xero that they are discontinuing the Windcave payment integration from 26 April due to it not meeting their specifications.
Windcave have since responded to advise they will be updating their integration with Xero to meet the required standards and will confirm details by 1 April.
NOTE: None of this affects users who use ResBook, Windcave, and Xero as ResBook handles the payments.
Customer Spotlight: Ara Roa Villas
Susanne and Paul are hosts of Ara Roa Villas, a stunning collection of boutique accommodation retreats on the magnificent coastline of Whangarei Heads and Whananaki in Northland.
As a ResBook Vacation Rental (VR) client they are able to manage the bookings for their 9 properties all in one place with channel management through to their online travel agent partners.
What do you see as the biggest challenge for next season?
Susanne:Next summer we expect domestic travellers to be very careful with their spending in this current economic climate.
How has ResBook helped you and your business?
Susanne:We have found ResBook exceptionally helpful when it comes to providing advice. Also now having the channel manager linking the larger platforms makes it all so much easier.
What is one of your favourite guest experiences or stories?
Susanne:We love it when guests keep coming back and end up becoming friends!
What is your favourite feature / function of ResBook and why??
Susanne:Using the Services to add our various spa and catering options is invaluable. We also use it to add custom charges for anything out of the ordinary.
Get Your Business in the Spotlight! 🔦
Get in touch if you'd like to share your pearls of wisdom and experience with like-minded accommodation hosts & on our website!
Can't find something in the Knowledge Base? Get in touch with Client Services, we'd be happy to help 👍🏼
Our latest Booking Intelligence data reflects some interesting information, let's review 2023 and how things have kicked off for 2024!
2023 In Review
Bouncing back from closed borders proved to be a challenge in 2023 as economic woes took hold and affected travel volumes and the level of spend. It was still a decent year, but not quite as positive as hoped with fully open borders.
ResBook booking volumes for the year didn't quite make it to the same levels of 2022 being 5.5% down, and just slightly ahead of 2021 (3.6%).
The average booking value in 2023 dropped 28% compared to 2022 showing the impact of inflation and the cost of living on what travellers are willing to spend and the competitive environment.
How 2024 is Tracking So Far
With 2 months under our belt it's looking like economic affects are continuing to be a major factor on travel plans:
Booking revenues for January & February 2024 are down 5.9% compared to the same months in 2023 and are at 80% of 2019 levels.
The average booking value has also dropped 6.1% YTD compared to 2023 indicating competition for the tourist dollar is still strong and so yields are dropping.
Forward bookings revenue for March is currently sitting at 73% of 2023's March total (& at 83% of booking volumes). With Easter starting at the end of March this year we expect to see an upswing to finish the month strong.
Contacting ResBook for Support Issues
If you need support help with ResBook you'll find answers for most questions in the Knowledge Base. Helpful articles with screenshots and videos can assist with resolving the most common issues, however if you still can't find your answer please refer to the following Support Guidelines for next steps. These guidelines also cover what to do for urgent issues.😊
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