Continuing our efforts to help revenue management grow in the short-term rental category, we spoke with Djamal Dankambary from Cocoonr to find out more.
How many properties do you have under management?
How many employees does the company have?
In which geography are you mostly operating?
We are based in 5 cities in France and we will launch in 10 more in 2019.
What type of properties do you manage?
Apartments, Houses and Villas.
How long have you been working in revenue management?
What are your previous experiences?
Working in Hotels, in France and the UK.
Can you describe your methodology?
It is really important to keep an objective and global vision when pricing a vacation rental.
The methodology is quite different as in the Hotel Industry. We have to juggle between our rentability, the owners’ one and our guests. Every single property must be approached differently.
The main points in my pricing strategy are:
- Data collection
- Data Analysis
- Quick adaptation
What tools do you use day-to-day?
Our self-developed Property Management Software where we setup all the pricing, a Channel Manager and all the OTA’s interfaces.
What is the worst revenue management mistake you have made?
The mistakes conducting to overbookings or empty properties in times of peak demand. Fortunately it is really rare.
Which moment in your career are you most proud of?
At Cocoonr, it is a team accomplishment but in 12 months, we managed to rise the Average Daily Rate by 18€, still maintaining our 75% annual occupancy rate.
What would be your advice for a beginner in revenue management?
Do not be afraid to experience new strategies. There will be mistakes, but you need to try a lot to progress in pricing. The data is here to help you, use it as much as you can, and then find the best recipe.