Researching and analyzing rental rates for comparable properties in the same location and with similar amenities to determine a competitive price point.
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Glossary Term: Pricing Strategy
270 posts
A pricing strategy where short-term rental rates are set lower than competitors to attract bookings and gain market share.
Specialized tools that use data and algorithms to optimize rental pricing in real-time, adjusting rates based on factors like demand, seasonality, and competitor pricing to maximize revenue.
A sophisticated software feature that automatically adjusts rental rates based on real-time market data, such as demand fluctuations, competitor pricing, seasonality, and special events, to optimize revenue.
A pricing strategy employed by hosts to incentivize longer stays by offering discounted rates for guests who book for a full week or more.
Tools that use algorithms and market data to dynamically adjust rental prices for maximum revenue, considering factors like seasonality, demand, and competition.
Collaborative efforts between property owners and managers or co-hosts to improve a short-term rental listing’s visibility and attractiveness on platforms like Airbnb and VRBO.
Leveraging data from IoT devices and external sources to optimize pricing strategies, adjust rates based on demand and occupancy, and maximize rental income.
A plan for setting competitive and profitable rental rates for a short-term rental property based on factors like seasonality, demand, and competition.
The practice of adjusting pricing and availability to maximize revenue from a short-term rental property.
The practice of adjusting pricing and availability to maximize revenue from short-term rental properties. This involves analyzing market trends, seasonality, and competitor pricing to optimize occupancy and nightly rates.
The practice of maintaining consistent pricing for short-term rental properties across all distribution channels, including online travel agents (OTAs) and direct bookings. This prevents rate disparities and ensures a fair market value.