Research conducted to understand the supply, demand, and pricing trends within a specific short-term rental market.
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Glossary Term: Pricing Strategy
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Decisions and actions taken by a short-term rental property owner regarding their property, pricing, guest selection, and overall management, typically within the bounds of platform policies and local regulations.
A pricing strategy where short-term rental property owners manually set their rental rates based on factors like seasonality, demand, competition, and their own financial goals.
The time of year when demand for short-term rentals is highest, typically coinciding with holidays, school breaks, and favorable weather conditions.
The fluctuation of short-term rental pricing during the COVID-19 pandemic and its aftermath, often characterized by initial dips followed by significant increases.
A pricing strategy used by some property management systems and online travel agencies where the total cost of a stay is calculated based on the number of rooms occupied rather than a flat rate per night.
A pricing strategy where short-term rental rates are dynamically adjusted based on the specific listing platform or channel, such as Airbnb, VRBO, or Booking.com, to optimize occupancy and revenue.
Hiring revenue management companies or consultants to optimize pricing for short-term rentals based on market demand and other factors.
Adjusting pricing for short-term rentals during periods of lower demand to attract bookings and maximize occupancy.
A pricing strategy where the final price of a short-term rental is hidden from the guest until after booking. Often used on platforms offering discounted rates.
The practice of setting the most profitable price for a short-term rental based on factors like demand, seasonality, competitor pricing, and property features.