Software or websites that allow hosts to compare their rental rates with competitors and adjust pricing accordingly.
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Glossary Term: Competitive Pricing
11 posts
A pricing strategy where hosts manually adjust their nightly rates based on real-time market factors like demand, competitor pricing, and events, rather than relying solely on automated systems.
A dynamic pricing approach that considers multiple factors like seasonality, demand, competitor pricing, and property amenities to determine optimal rental rates and maximize revenue.
The dynamic adjustment of rental rates based on factors like seasonality, demand, competition, and property features to maximize occupancy and revenue while remaining competitive.
A report that compares similar short-term rental properties in the same location to determine competitive pricing and rental potential.
A short-term rental that provides an excellent balance of price and quality, offering guests a comfortable and enjoyable stay at a competitive price point.
A pricing strategy for short-term rentals that considers the rates and value propositions of comparable hotel accommodations in the same location, aiming to establish competitive pricing while showcasing the distinct advantages of staying in a vacation rental.
The practice of analyzing similar short-term rental properties in the same market to determine competitive pricing and assess the value of a host’s property.
Optimizing listings on platforms like Airbnb and VRBO through high-quality photos, compelling descriptions, competitive pricing, and strategic use of keywords to attract more bookings.
Setting rental rates strategically to remain competitive within the market while maximizing occupancy and revenue.
A realistic average daily rate that a short-term rental can achieve in a given market, considering factors like property size, amenities, location, and competition.