How We Turned a Premium 150 m² Apartment Into a High-ROI Hospitality Asset
Positioning, pricing intelligence and guest-journey optimisation for a luxury three-bedroom apartment in central Riga.
- occupancy
- 78%
- revenue growth
- +32%
- target annual ROI
- 8%
- current annual ROI (forecast)
- 8.6%
When the owner of a newly renovated, 150 m² luxury apartment approached us, the challenge wasn’t to “fill the calendar.”
The real task was much deeper:
How do you operate a premium property in a way that maximises ROI — not pure occupancy — while protecting the asset and attracting the right type of guests?
This apartment had everything going for it:
- Three spacious bedrooms
- Nine sleeping places
- Fully equipped designer kitchen
- Large living room ideal for families and business groups
- High-quality renovation using durable materials
- Prime location in central Riga
But with a renovation costing significantly more than the market average, the owner was clear:
“Don’t destroy the apartment for the sake of 100% occupancy — the goal is ROI, not volume.”
We agreed completely.
Step 1 — Defining the Right Audience
During the assessment phase, we immediately ruled out low-budget, high-turnover traffic.
Even if such bookings fill the calendar, they create:
- Excessive wear and tear
- High support load
- More noise-related risks
- Higher probability of damages
This is unacceptable for premium properties.
Instead, MIRO Rooms focused on three high-value, low-risk segments:
1. Multi-generational families
Travelling for celebrations, weekends, cultural trips.
They value space, privacy and a fully equipped kitchen.
2. Business teams
Small corporate groups attending conferences, workshops or off-sites.
They stay longer and behave predictably.
3. High-intent leisure travellers
Guests visiting Riga for anniversaries, holidays or multi-day events.
Willing to pay for quality, peace and comfort.
This segmentation became the foundation for the pricing and operational strategy.
Step 2 — Building the ROI-First Operating Model
The owner’s financial expectation was realistic:
Target ROI: ~8% annually.
Goal: achieve it without compromising the apartment’s long-term condition.
To achieve this, MIRO Rooms created a structured plan:
✔ Pricing intelligence
We applied dynamic pricing based on:
- Seasonal family-travel peaks
- Weekday vs. weekend demand
- Business arrival patterns
- City events and conference calendars
- Competitor analysis of 3-bedroom premium listings
✔ Minimum stay rules (3–4 nights)
This dramatically increased the average booking value
and reduced wear on the apartment caused by daily turnovers.
✔ Guest journey optimisation
We rewrote the listing to target exactly the audiences we wanted.
The focus was not on “9 beds” but on:
- Space and comfort
- Family-friendly layout
- Work-friendly rooms
- Fully equipped kitchen
- Quiet, residential comfort in the center
✔ Property protection systems
We implemented:
- Noise monitoring
- Strict vetting for group size and purpose of travel
- Mid-stay check standards
- Rotational deep cleaning schedule
As a result, no serious damages occurred in the first quarter.
Step 3 — Results After the First 90 Days
Even though we did not pursue max occupancy, the first quarter delivered strong numbers:
▶ Healthy occupancy: 78%
▶ Revenue uplift: +32% compared to initial expectations
▶ Target ROI: 8%
▶ Achieved ROI (projected annualised): 8.6%
This confirmed our thesis:
Premium apartments should not chase volume — they should chase margin.
A healthy balance of price, stay length and audience quality consistently outperforms “fill everything at any cost.”
Step 4 — Long-Term Roadmap for Asset Value Protection
Together with the owner, MIRO Rooms created a one-year roadmap:
- Seasonal adjustment of minimum stays
- Optimised business-season pricing
- Partnerships with corporate clients for recurring bookings
- Annual maintenance and furnishing refresh plan
- Multilingual listing optimisation for Nordic & German audiences
The property is now operating as a stable, well-protected hospitality asset with predictable ROI.
Conclusion
This case demonstrates that the highest financial performance in premium rentals comes not from occupancy but from strategic guest selection and controlled operations.
By positioning the property correctly, implementing value-based pricing and protecting the asset through strict operational standards, MIRO Rooms delivered ROI above the owner’s expectations — without compromising the apartment’s long-term durability.
If you have a premium property and want a revenue-first, asset-protection-focused strategy,
MIRO Rooms Rentals is ready to help.