A pricing approach where hosts set the lowest acceptable nightly rate for their short-term rental, often used during low season or to attract last-minute bookings.
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Glossary Term: Pricing Strategy
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A humorous term for a revenue management strategy or tool focused on maximizing income from short-term rental properties.
The prevailing rental rate for similar properties in the same market area, used as a benchmark for setting competitive pricing.
A revenue management strategy that focuses on maximizing rental income by optimizing pricing, occupancy rates, and operational efficiency.
The strategic application of pricing, availability, and marketing techniques to maximize revenue from short-term rental properties.
A pricing strategy used by short-term rental hosts to attract bookings during weekdays (typically Monday through Thursday) by offering a reduced rate compared to weekend prices.
The practice of optimizing pricing, availability, and marketing strategies to maximize revenue generated from short-term rental properties.
Researching and understanding the trends, competition, and demand for short-term rentals in a specific location.
Offering reduced rates for reservations made close to the check-in date to fill vacancies and maximize occupancy during slower periods.
Adjusting pricing strategies for guests booking extended stays to maximize occupancy and revenue during slower seasons or for longer vacancies.
Researching and understanding the specific trends, competition, and pricing dynamics within a particular geographic area to inform listing optimization and revenue management.