A pricing strategy used by some property management systems and online travel agencies where the total cost of a stay is calculated based on the number of rooms occupied rather than a flat rate per night.
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Glossary Term: Revenue Management
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A measure of how effectively a short-term rental property is being booked and occupied over a given period, often expressed as an occupancy rate.
The potential benefits missed by choosing one option over another. In short-term rentals, it refers to potential income lost by not listing on multiple platforms or using dynamic pricing.
The practice of setting the most profitable price for a short-term rental based on factors like demand, seasonality, competitor pricing, and property features.
A hypothetical pricing strategy for short-term rentals that allows for flexible adjustments based on factors like seasonality, demand, and competition.
A situation where a short-term rental property’s pricing is not dynamically adjusted based on factors like demand, seasonality, and competitor pricing.
A data-driven approach to optimizing pricing and occupancy for short-term rentals, incorporating factors like market demand, seasonality, and competitor analysis.
Hiring revenue management companies or consultants to optimize pricing for short-term rentals based on market demand and other factors.
Adjusting pricing for short-term rentals during periods of lower demand to attract bookings and maximize occupancy.
The “Ojalá Pricing Strategy” focuses on setting competitive rental rates while also considering the value of the overall guest experience. It involves analyzing market trends, guest expectations, and the unique selling points of the property to determine a pricing structure that maximizes bookings and revenue while ensuring guest satisfaction.
Implementing a dynamic pricing approach that adjusts rental rates across all booking platforms based on factors like demand, seasonality, and competitor pricing.
The process of lowering rental prices during the off-season to stimulate demand and maintain a steady stream of bookings.