Pricing and improving occupancy rate

[Jo-And-Alistair0]

Hi 

We are new to hosting ( mid September) and would like ideas and support about pricing and to understand better how we can improve our occupancy rate. The occupancy rate is currently 40%.  I have googled and read on the internet and still feel a bit in the dark..

There's too much to explain here without going into detail but we know we need more knowledge to get our air b n b working the best it can for us!

Thanks for any support, ideas or engagement on this. We have little knowledge but have also had a brief look at a video on dynamic pricing tools.

😊Thanks in advance 

[Gillian166]

@Mike-And-Jane0  @Jenny 

+1. every single day we are finding that it's impossible to give good advice here without being able to see the posters' listing. 

[Jenny]

I hear you @Gillian166 - if I get any updates on when it's coming back then I'll make sure everyone knows!

Jenny

[Gillian166]

@Jenny  thank you Jenny!

I appreciate some hosts wanted to be able to post here with anonymity, and I hope those few people also see the other side of the situation now. Given our listing and profile is public in a search, why hide the listing when you are giving advice in the forums?  There are so many cases this past week where we can't be sure if the host/guest is being truly accurate in their descriptions of situations. 🙏🏻

[Kelly149]

@Jo-And-Alistair0 IMO looking at occupancy is a silly metric. The part I focus on is expenses vs income. The space has a fixed existence cost, then there are the incremental costs associated with bringing in guests. These can vary WILDLY from property to property.

Then on the income side it really is a supply/demand/amenities equation. Your area might always book weekends at $100/night and weekdays at $25/night. So, only you can do the math and decide if $25/night is a net gain or loss to your particular property. Also, any of us could spend up the amenities we include with our spaces to justify a higher /night cost or to drum up greater demand, but again, only you can decide if what those cost is worth the expense to you.

Your time is worth something, the space is worth something, only you know if what the market is willing to pay matches those numbers.

[Jo-And-Alistair0]

Excellent advice Kelly! Thank you so much, much food for thought 😊

thanks for your time and expertise too 

[Sudsrung0]

@Jo-And-Alistair0 

I have some articles that you would be interested to read

How To Calculate Cap Rate For Vacation Rentals

https://bit.ly/3dJ0Npb 

[Sudsrung0]

@Jo-And-Alistair0 

How to use Airbnb merchandising

https://bit.ly/3UfRE6K 

[Jo-And-Alistair0]

@Sudsrung0 thank you. Looking forward to reading these articles.. thanks for thinking of us