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Glossary Term: Pricing Strategy
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Hungarian term for “Seasonal Pricing,” referring to the practice of adjusting short-term rental rates based on fluctuating demand during different times of the year.
An important skill for short-term rental owners and managers, particularly when dealing with guest requests, pricing negotiations, and vendor contracts.
A pricing strategy where the nightly rate for a short-term rental fluctuates based on factors like demand, seasonality, or length of stay.
The typical spending patterns of target guests in a specific market, influencing pricing strategies and amenity offerings.
A pricing strategy for vacation rentals based on the total square footage of the property, often used as a starting point for determining nightly rates.
The practice of optimizing pricing and availability to maximize revenue from short-term rental properties.
A pricing strategy for short-term rentals that involves offering discounted rates during shoulder seasons (the periods between peak and off-season) to attract more bookings.
The process of researching and comparing your short-term rental to competitors in the area to identify pricing trends, amenities, and marketing strategies.
A straightforward pricing strategy that uses a flat rate for all bookings, regardless of the season or length of stay.
The fundamental economic principle that influences short-term rental pricing, where higher demand and limited supply lead to increased prices, and vice versa.
A pricing strategy that adjusts rates during school breaks and holidays to capitalize on increased family travel demand, often resulting in higher nightly rates.