How to price your ski property in Courchevel
Like any other product, supply and demand determines the weekly price of your rental property in Courchevel. This is the one area that property owners really struggle with for a number of reasons.
Firstly, it is hard for them to find accurate rental prices for competing properties. Prices for weeks that have been sold are not displayed publicly and many advertised prices do not reflect the market rate.
Secondly, it is really hard for owners to be objective and to understand the whole of the market.
We help owners see their properties from a broad objective perspective and help them maximise their returns.
If you are looking to maximise your returns then pricing is crucial. The rental market is very transparent for customers. They look on a variety of platforms and pick the best value property. If you are slightly overpriced you simply won’t get the booking. Therefore it is occupancy levels that drive returns, you are better to sell more weeks at a conservative rate than miss out because you try to be greedy.
Below is a short guide on what to consider when pricing your chalet or apartment in Courchevel.
Location, location, location: As the famous saying goes, the most important factor when pricing a ski property is location. Apart from the resort/village the property is in the two main things to consider are access to the slopes and how close is the centre of the resort.
Room configurations: The amount of people you can sleep comfortably in your property obviously affects the price. Bunk and sofa beds are less valuable because most adult guests do not want to stay on them. If you have more than 4 double/twin rooms the price per person will go up as these properties are scarce. Also ensuring you get zip lock beds that can be double or twins this will increase your revenue as it will make your property suitable for more groups.
Quality: Newly renovated or new properties are more attractive and therefore demand a higher price. You can easily earn back the cost of renovations through rental returns.
Bathrooms: Properties with all on ensuite rooms are rare and you can charge a small premium.
Relaxation facilities and provisions: Hot-tubs, saunas, steams rooms don’t add a great deal on to the price you can charge each week however they will increase occupancy levels so are a great investment. The same applies to TVs, stereos and other entertainment appliances.
The time of year: demand levels change each week of the season and too many owners don’t charge enough for peak season and try to charge too much for peak season. Getting the weekly prices is crucial for getting bookings.
As you can see there is a lot to consider and being able to do this well you need experience and knowledge. We are more than happy to offer pricing advice to any owner, even if they don’t work with us. Please get in touch if you would like any further information.