The practice of using data and analytics to optimize pricing and availability for short-term rentals to maximize revenue.
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Glossary Term: Pricing Strategy
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The strategic approach of maximizing rental income by adjusting pricing, availability, and marketing efforts based on factors like demand and seasonality.
A visual representation of booking demand and occupancy rates for a short-term rental property over a specific period, helping hosts adjust pricing and availability.
The base price charged per night for a short-term rental property, excluding any additional fees or taxes.
A dynamic pricing strategy used by short-term rental hosts that adjusts rental rates based on factors like seasonality, demand, events, and competitor pricing.
A pricing strategy where short-term rental rates fluctuate based on real-time market demand, seasonality, competitor pricing, and other factors. This approach helps hosts maximize occupancy and revenue.
The practice of adjusting rental prices in real-time based on factors like demand, seasonality, and competitor pricing.
A pricing strategy where rental rates vary depending on the day of the week to account for fluctuations in demand, such as higher prices on weekends and lower prices during weekdays.
The average amount of time between when a guest books a short-term rental and their actual stay, influencing pricing strategies and last-minute availability.
Patterns and shifts in guest booking behavior for short-term rentals, influenced by factors like seasonality, events, and economic conditions.
The process of researching and evaluating similar short-term rental properties in the same area to understand market trends, pricing strategies, and competitive advantages.