A dynamic pricing strategy for short-term rentals that uses algorithms and machine learning to analyze factors like demand, seasonality, and competitor pricing to automatically adjust daily rates for optimal revenue.
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Glossary Term: Pricing Strategy
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An additional fee charged to guests for optional amenities or services beyond the standard rental offering, such as early check-in, late check-out, or use of specialized equipment.
A cleaning fee that is spread out over multiple bookings, typically calculated based on the average cleaning cost per stay and the expected booking frequency.
A key performance indicator (KPI) in the hospitality industry, calculated by dividing the total revenue generated from bookings by the number of nights booked.
Charges applied by hosts or property managers for each guest beyond the standard occupancy limit specified for a short-term rental property.
A tool that helps hosts determine a competitive and profitable nightly rate for their short-term rental. It factors in expenses like mortgage, utilities, and cleaning costs.