Apartment in Mikulášská street

This apartment is located in the heart of Prague, just steps from the Old Town Square, offering guests an ideal base for exploring the city's beauty. With a picturesque view of the Church of the Virgin Mary before Týn, it provides a perfect stay experience in the historical centre of Prague. The apartment spans 65 m² with a 3+KK layout, featuring two bedrooms. The space offers comfortable accommodation for four guests. Initially furnished with only a kitchen and bathroom, the apartment underwent a complete renovation tailored for short-term rentals. Every detail was carefully designed and executed based on our years of experience to ensure maximum guest comfort.

Increasing apartment capacity for higher profit in the city centre is common, but often negatively impacts neighbourhood harmony. At the start of our collaboration, we agreed with the client that this strategy did not align with our values, so we focused primarily on guest comfort. The main challenge was to maximise the property's revenue potential despite the limited number of guests.

Due to the apartment's unrivalled location, we focused exclusively on short-term stays. We designed the interior in subtle tones that respect the area's historical character, completing the project from concept to final implementation in just five weeks. Emphasising short-term rentals, we developed a long-term strategy to build a substantial property profile with a positive reputation on accommodation platforms rather than maximising profit from the first booking. This strategy allowed the property to benefit from a strong profile in the long run and enabled a subsequent aggressive pricing strategy with higher nightly rates targeting more affluent clientele.

Despite our strategy that doesn't compromise the local community, our business model generates comparable earnings to hosts prioritising apartment capacity over guest and neighbourhood comfort. We achieved this through careful property profile building, thorough guest care, and a long-term dynamic pricing strategy aimed at maximising RevPAN.