From 8 Booked Nights to 93% Occupancy – When the Problem Isn’t the Apartment, but the Strategy

In April, a Budapest apartment owner contacted us because they wanted us to take over the management of their property.

The apartment had previously been managed by another operator, but the results fell far short of expectations: from the beginning of January until the end of March, over a period of almost three months, only 8 nights were booked.

At first glance, it would have been easy to say that the location was the problem.

We saw it differently.

Not Every Budapest Apartment Is a City-Centre Apartment

The property is not located in one of Budapest’s classic city-centre areas typically sought after by tourists. Naturally, this can be a disadvantage if you are trying to compete for the same guests looking for 2–3-night stays as apartments in Districts V, VI or VII.

But why compete for the same guests?

From the moment we took over the management, we decided that this apartment needed a different sales strategy.

Instead of trying to increase the number of short stays at all costs, we shifted our focus towards longer bookings.

We adjusted the pricing, minimum stay requirements, availability and overall sales strategy accordingly.

The Result: 93% Occupancy

The change quickly became visible in the numbers.

Since mid-April, the apartment has been running at 93% occupancy.

However, a high occupancy rate alone does not necessarily mean good performance. It is relatively easy to fill an apartment by setting very low prices, but that does not make the operation successful.

That is why, for us, it is just as important to achieve strong revenue alongside high occupancy.

In this case, we achieved both: the apartment’s revenue is almost identical to that of comparable properties optimized for shorter stays.

In other words, we did not simply sell more nights. We found an operating model for the property that is better suited to its location and market potential.

A 22-Night Booking Is Already Secured for November

A clear sign that the strategy is working is that we have already secured a 22-night booking for November.

A booking of this length does not only contribute to higher occupancy.

It can also mean fewer guest changeovers, fewer vacant nights, and a more predictable booking calendar. For an apartment outside Budapest’s traditional city-centre locations, these factors can be particularly important.

The Same Strategy Doesn’t Work for Every Apartment

In short-term rental management, it is easy to fall into the trap of trying to market every property using the same approach.

The listing goes live on the platforms, the prices are set, and then we wait for bookings.

When those bookings do not come, the first conclusion is often that the location is not good enough, the competition is too strong, or there simply is not enough demand.

But that is not necessarily the case.

A city-centre studio, a larger apartment in an outer district, and a premium property can attract completely different types of guests. The ideal length of stay, pricing and sales strategy can also vary significantly.

Good property management is therefore not about applying the same formula to every apartment.

It is about identifying who the property is most attractive to, at what price, and for what type of stay.

With this apartment, we started from just 8 booked nights over three months.

Since mid-April, it has been operating at 93% occupancy.

Same apartment. Same location.

What changed was the strategy.

Is your apartment underperforming?

The problem may not be the property itself, but the strategy behind it. At NW Apartments, we tailor our pricing and sales strategy to each individual property.

Get in touch with us and let’s see what your apartment could achieve with the right management.

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