To beat or not to beat... pricing

[Gonzalo444]

Hello guys, for both of my listings I have adjusted the prices very low with the use of coupons. It has helped me be able to get the units booked for this month but it seems to work only for people booking last minute because my calendar look dry for the next three months. Any advice?

[Helen3]

I've never discounted in nine years of hosting it depends on how price sensitive your location is and supply and demand in your location.

You're much better investing in marketing across all relevant STR channels used by guests you've identified as your target market . @Gonzalo444 

[Shelley159]

Hi @Gonzalo444 

In my experience it seems Covid changed guest habits. Even four years on, fewer guests make advance bookings than I was used to. Many bookings are more last-minute, but in the end the nights fill up. As a host, it's just a bit more difficult to plan your schedule ahead now.

[Elaine701]

@Gonzalo444 

It's difficult to offer any specific advice because I don't know your area, or the most common attractions to visitors, or what kind of visitors come to your area (e.g., business, tourism, family etc).

But I can say from experience, that a race to the bottom is always risky, because  those who pay the least can often cost more to host - they can be irresponsible, consuming more, cause minor damage, and/or file complaints for refunds (they are, after all, inherently seeking the cheapest way to stay rather than what's most suitable for their trip).

So, if you're going to compete on the basis of price, employ some screening tactics to get a sense of the character of the guest before they book, to help ensure you don't end up in conflicts or suffer frustrations, and actually lose money.

Good luck. Watch your back.

[Marie8425]

I haven't looked at the discounts you are using.  AIRBNB does permit a early bird discount, I would try exercising that angle.  I would also look at the Insights for my listing, Wish List adds.  Is your volume of adds same, less or more?  People planning for something in a few months will save a few listings they can compare.  Is your discount pricing to deal with a slump now creating your next slump?  If I see 50 bucks a night but my focus is  comfort not cheap, do I look at your listing or does a cheap price make me nervous cheap accomodation?  Or if your cheap price now does attract me but when I put in my much future dates does the price significantly change?   As a Guest I am thinking why can  you discount people last minute but I pay more because I plan ahead?   If I really like your place to be honest, I would take my chances going last minute booking because I can see your calendar is open.

[Paula]

Hello @Gonzalo444, thank you for posting in our community.

Our experienced Hosts have shared a lot of great advice. Let us know when you have had a chance to read through it.

All the best.