Have "price tips" gone insane?

Have "price tips" gone insane?

About 4 days ago, the pricing tips from AirBnB (which I look at but mostly ignore because they're usually wellbelow what we actually charge  to VERY satisfied guests), suddenly went nuts. They surged roughly 40-50% higher than we typically charge. Or, to put it another way, 60%+ higher than the previous price tips. Has anyone else seen this happen?

 

We're not upping our rates based on this, because our bookings are coming in at the usual pace. On the other hand, if these tips are even partially valid, we'd love to make more money. I have my doubts, though, that even if the tips are semi-valid, whether our guests would be as 5-Star "happy" as they usually are. We already charge what I consider to be a premium rate, and I'd hate to push the boundaries if it would affect our ratigs and reviews.

15 Comments
Helga0
Level 10

@Dede0, that raises a philosophical question on your first post: Can a crazy entity go insane temporarily? 😉 My absurd high suggestions lasted way shorter than yours, when I wanted to see them again they were already back below hostel level for me. 

Although I don’t believe that it is an easy thing to program. There are much too many variables and they may interact I’m predictably, requesting fixes, which may increase flaws. 

There is an official explanation thread on smart pricing, which is totally unsatisfying. 

It would be interesting to put the factors taken into account in a list and let guests and hosts poll on them and also suggest factors. 

Maybe we as hosts would be surprised how few or how many factors are important for guests as booking deciding factors. 

Maybe airbnb would be surprised, if factors are voted highly on both sides, but low or not at all on their programmers’ list. 

Maybe we find, that we have factor we are proud off but they are not so important for guests. It’s up to the single host by then to adapt investment or to adapt communication. 

Bob-And-Char0
Level 2

I agree! The price tips are a mess for us. So how do you shut off Price tips?

Dede0
Level 10

You don't shut them off, you just ignore them. Just as you ignore almost everything else that AirBnB tosses your way. Instead, you invest your time into noting the interface changes that AirBnB makes w/o advising hosts. And checking the list of Amenities to be sure AirBnB hasn't added something that you need to check off, etc.

AirBnB's coding quality has improved noticeably in the past year or so, but that's not to say that their interface design or notices to hosts has improved. They have a long way to go in both those departments...

Betsy13
Level 5

The price tips are ridiculous.  They are also bogus.  Airbnb says the price tips are supposedly based on what others are charging.  But from what I can see, they are just a scam to get us to reduce our prices.  Case in point - my rate for this coming Saturday was $179.  They said others were charging closer to $163.  I changed it to $159.  I checked price tips again. Now for the exact same night they say other are charging $140.  

 

They make money if they get more bookings because they just take a commission.  We, on the other hand, have bills to pay.  Don't fall for it.  Set a fair price.

If you need a giggle, Price Tips are always sure to satisfy!

 

It's the 29th March today and I have received a Price Tip that says I can increase my March bookings by 300%. I have one night free, which is tonight, the 2 remaining nights in March are already booked and I dont take single night bookings. I'm no maths genius but how can I boost my bookings by 300%, by discounting one night of the remaining 3, which according to my rules I can't sell? If I did sell it, wouldn't that be boosting my bookings by 33%?

OR

Would it be that because tonight is not sold and then I could sell it, I would be increasing tonights bookings by an infinite amount, (300% of zero being still zero) and the guys at AirBnB have decided that not even they can say 'Increase your March bookings by an infinite amount and they thought to try something more plausible?

OR

.......