Smart Pricing works if you get it right. And it isn't rocket science.

[Kevin1322]

This year,  we turned on smart pricing.

On some bookings we are getting 15c to 20 percent more per stay.

Admittedly there is high demand.

We kept our base price the same as our normal price, only allowing smart pricing charge more, never less.

It was that simple. We followed sage advice from experienced hosts on this,  make your bottom price your usual price, and what have you got to lose.

It remains to be seen how guests perceive "value" as star ratings in their reviews, but for money in the bank we have already seen a boost.

So I'd give this a cautious thumbs up.

How are other fairly new hosts finding smart pricing?

[Stephanie · Accepted solution]

Hey @Kevin1322 !

Great topic. You've reminded me of a fantastic topic that @Ann72 made for the Festival of Hospitality back in 2019 on how she's mastered Smart Pricing: https://community.withairbnb.com/t5/Hosting/Festival-A-Smart-Pricing-Journey/m-p/1123517

Hope that helps,

Stephanie

[Brian2036]

@Kevin1322 @Maria14462 @Mike-And-Jane0 

We have found that Smart Pricing doesn’t really do anything for us but it’s probably because demand is low in this area and there isn’t much to compare with our listing.

[Juliet586]

I have Smart Pricing on.  We're new to this so started low to gauge demand then gradually increased it.  It seems to work fine but I have not yet seen the price increase at all.  We have taken 15 bookings in the last couple of weeks but the price remains the same as our minimum throughout the whole year and isn't changing at all.  Does anyone know how it actually goes up?

[Achille30]

What dynamic solutions do you recommend that easily manage pricing for your units and factor low and high seasons into account fairly well? My goal is to maximize revenue.