Adjusting rental rates based on fluctuations in demand throughout the year, such as higher prices during peak seasons and lower prices in the off-season.
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Glossary Term: Demand
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Bookings made for a future date. This data can be valuable for predicting demand, setting pricing, and managing inventory.
A pricing strategy that adjusts nightly rates based on real-time factors like demand, seasonality, and competitor pricing.
The percentage of time a rental property is booked over a specific period, indicating its popularity and revenue potential.
The strategic approach to maximizing rental income through pricing optimization, occupancy management, and other revenue-generating tactics.
A dynamic pricing strategy where the minimum length of stay requirement changes based on factors like seasonality, demand, or day of the week.
Setting fair and transparent pricing for short-term rentals, considering factors like seasonality, demand, competitor rates, and value provided to guests. Ethical pricing fosters trust with guests and contributes to a sustainable rental market.
A hypothetical scheduling system that utilizes machine learning algorithms to optimize booking schedules based on factors like guest preferences, property availability, and market demand.
The fluctuation in income that short-term rental hosts may experience due to factors like seasonality, demand, and competition.
A decrease in the number of guests seeking short-term rentals in a particular market, often influenced by seasonal changes, economic factors, or external events.
A comprehensive plan for setting rental rates based on factors like demand, seasonality, competition, and property amenities to maximize occupancy and revenue.
The period of highest demand for short-term rentals in a particular destination, often characterized by increased bookings, higher occupancy rates, and premium pricing.