A pricing strategy for short-term rentals where rates are structured in tiers based on demand and availability, with higher prices for peak seasons and weekends.
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Glossary Term: Pricing Strategy
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A pricing strategy that appears successful in the short term but ultimately undermines profitability or long-term sustainability. This might involve consistently undercutting competitors or relying solely on discounts.
The use of pricing strategies that leverage psychological principles to influence guest perception and booking behavior, such as charm pricing or using the anchoring effect.
A pricing strategy where hosts offer reduced rates for guests who book longer stays, incentivizing extended bookings.
Leveraging price differences for the same short-term rental across multiple platforms, like Airbnb and VRBO, to maximize booking potential.
A pricing strategy where higher rates are charged for desirable features, amenities, seasons, or events.
The process of preparing a property for listing on short-term rental platforms, including setting up the listing, taking professional photos, and establishing pricing.
A pricing strategy that leverages psychological principles, such as charm pricing (e.g., $9.99) or prestige pricing (e.g., rounding up to $100), to influence guest perception and booking behavior.
A pricing strategy where hosts constantly adjust their rates up and down in response to competitor pricing and demand fluctuations.
A group of similar short-term rental properties in the same market that are considered direct competitors, used for benchmarking and pricing strategies.
A pricing strategy where hosts increase their nightly rates during periods of high demand for short-term rentals, such as holidays, special events, or peak season.
A pricing strategy where rental rates are adjusted based on factors such as occupancy rates, demand, and competitor pricing to optimize revenue.