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.
Menu
Glossary Term: Pricing Strategy
270 posts
A pricing strategy where hosts offer reduced rates for guests who book longer stays, incentivizing extended bookings.
The time of year when a particular destination or region experiences the highest demand for short-term rentals, typically accompanied by increased booking rates and occupancy.
A pricing strategy where hosts charge a higher rate for their short-term rentals due to factors such as exceptional location, amenities, luxury features, or high demand periods.
A pricing strategy where hosts constantly adjust their rates up and down in response to competitor pricing and demand fluctuations.
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 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.