2021 Pricing Trends

[Liz528]

 Hey everyone! 

Over the last 4 months I started using WheelHouse as a pricing tool. It does essentially what SmartPricing is supposed to do but 1000% better. (i love it by the way if anyone is in need of some more accurate pricing metrics).

I found today that they predict 2021 prices to skyrocket. Anyone else hear about this? Wondering if other pricing tools are also showing this trend. 

[Inna22]

@Liz528 None of the pricing tools are perfect. Although I heard wheelhouse is great.  They don’t have some of the more complicated features so I can not use them. How do they source the information? If it is comparing to other similar hosts, it might be one or two of your competitors driving the numbers up. I kept my prices for next year the same with pre-Covid years  and I this time of the year usually start getting reservations for summer but not so far. So guests are not booking because people are still in Covid  mindset or because I am priced too high.

[Ann72]

@Inna22  It's probably because they have difficulty planning that far away because of Covid.  And because your prices are too low 😂  Just raise them.  I raised mine at what I thought was the end of the Maine season in September and the bookings have been coming in right along, well into February.  Although I have more summer bookings for 2021 than usual this time of year, I find that January is when people really start turning their minds to summer travel.  

@Liz528  Wheelhouse isn't available for everyone - it's not in my listing area yet.  As I said I have already raised 2021 prices.  I put them up 5% after noting that hotel prices rise 2%-3% every year.

My bookings increase every time I raise prices.  Don't ask me why!  🙂

[Lisa723]

@Inna22 Wheelhouse has introduced some new features-- if you haven't looked at them recently you might want to review.

[Keshav7]

I'm a optimistic person, I hope this is true 🙂 #happy2021

[Lisa723]

@Liz528 @Keshav7 @Ann72 @Inna22 

Wheelhouse has been pushing our prices up and we are booking steadily. Our larger house is mostly booked for next summer already, which is unusual, so maybe they are not pushing the prices high enough!

I'm sure it depends a lot on region. We are getting Seattleites who want a private drivable getaway, and people who have postponed vacations and events from 2020 to 2021.