The highest price charged for a short-term rental during periods of exceptionally high demand, such as holidays, special events, or peak season.
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Glossary Term: Pricing Strategy
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The subjective assessment of the worth or desirability of a short-term rental property by potential guests, influenced by factors such as location, amenities, reviews, and overall presentation.
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.
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.
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.