Smart Pricing

[Abner31]

Good day,

 My name is Abner. How do I price my property competitively to the Airbnb next to me? How do I attract guests to my business and ensure it is always occupied.?

[Elaine701 · Accepted solution]

@Abner31 

Be very careful about competing on the basis of price. The most problematic guests seek "whatever is cheapest" first. It can be very expensive. And don't expect Airbnb to save you. It's just marketing. 

Instead, I'd recommend keeping your prices a bit higher than your competition, and making the place stylish and comfortable, under promise and over deliver. The resulting good reviews will attract a better quality of guest that is happy to pay for that quality. And you'll have far fewer problems. 

Good luck and happy hosting. 

[Abner31]

Hallo,

 Thank you for the great advice and caution. 

[Ard19473]

Hi Abner,

I wouldn’t start by simply matching the Airbnb next door. First check whether it is truly comparable: same number of guests, bedrooms, bathrooms, location, reviews, amenities, cleaning fee and cancellation policy.

Then look at your next 30, 60 and 90 days:
- if your calendar is filling very quickly, your price may be too low
- if you have many open nights while similar listings are booked, then price, minimum stay or listing quality may need work
- if only certain gaps remain, adjust only those dates rather than lowering everything

The best price is not always the cheapest price. I would track occupancy, average nightly rate and revenue per available night. That gives a better picture than only comparing your nightly price with one nearby listing.

[Abner31]

Good day,

 Thank you for the advice,  it makes a lot of sense. 😇