Optimizing bookings and pricing for high and low seasons

[Daljeet-Singh0]

Good day, I am wondering if someone can please help me understand id there is a way yo optimize bookings. Do you guys take bookings for certain days (minimum) if so could it be any day of the week?

Can I change pricing for high and low seasons, combination of promotions and discounts?

Thanks

Casey

[Paula]

Hi @Daljeet-Singh0 Welcome to our Community,

These are very interesting questions that some of our more experienced Hosts could certainly help answer with their advice. I am reaching out to @Bettye6, @Joan2709 and @Nur785 to invite them to share their suggestions with you.

[Joan2709]

Hi @Daljeet-Singh0 

A few things you can try and other hosts can add their suggestions:

Weekends (Fri/Sat)

Min 2 nights; especially in slow season as they always get booked first. We also price weekends more than weekdays

Holidays

If there is a holiday over a weekend, we usually price higher as well

Weekdays

We generally provide a discount for weekdays in slow season as the date gets closer and it is still unbooked

Promotions

You can also use promotions (discounts) in off season to fill gaps in your calendar as well. 

[Nur785]

Hi @Daljeet-Singh0 

When I first started I spent a lot of time looking at listings in my area to get a sense of their pricing. We now have compare to similar listings options, so take advantage of that and take a look at listings. You will get a sense of what's the average price, you will need to do this regularly. You can also use an app to do this for you (AirDNA, for example). 

I also started by just using that average price and did not open up my availability more than 60 days at a time until I got a better sense of the seasonal changes. 

Like @Joan2709 said, 2 night minimum for weekends, but you might start with 3 day weekday minimums.

And yes, you can always change pricing for high and low season, and you can offer promotion for slower days. 

I would strongly recommend that you take all of this slowly. Start with an average price you can live with, do not open your calendar too far into the future and start feeling your way through it. 

If you are getting booked 100% very quickly, then, you are probably priced way too low. Again, just make sure you look at other listings in your area. 

I hope this helps. 

[Bettye6]

Hi @Daljeet-Singh0,

I must say that I agree with everything that @Nur785  & @Joan2709.  As I am new in this I have taken it very slowly to get a rhythm. I have only been doing this since Feb. 2023. I am learning the app and still find that I struggle finding things at times, and actually I'm am working with support (they just escalated me) as I was having troublesome glitches. I must say that contrary to what I read AirBnB support was right on top of my issue (translations).

At the beginning I stuck with a set price as, like I previously said just getting familiar with the app was a struggle for me.

Now I keep a very close eye on my 'competition' and that has helped. I will take the other suggestions too but I wanted to give myself a full year before I started aggressively changing pricing on dates, minimum weekends, etc. I'm still learning as I have never heard of AirDNA before.

🙂

You asked a great question and I will be going back to look at what I can do in the future. Yes, take it slowly is my biggest advice and learn the app like second nature!

Good luck