How to Optimize Your Pricing Strategy

Master dynamic pricing strategies to maximize your vacation rental income and occupancy rates with TrueBookings.

Understand Market Pricing

Research your local market to set competitive prices:

Competitor Analysis: Check similar properties in your area on Airbnb, VRBO, and other platforms
Location Factors: Consider proximity to attractions, beaches, downtown areas
Property Features: Factor in unique amenities like pools, hot tubs, or scenic views
Seasonal Trends: Research peak and off-peak seasons in your area
Local Events: Identify festivals, conferences, or events that drive demand

Set Your Base Pricing

Configure your pricing in the "Pricing & Fees" section:

Base Rate: Set your standard nightly rate
Currency Selection: Choose your preferred currency (USD, EUR, SEK, etc.)
Weekly Discounts: Set discounts for 7+ night stays
Monthly Discounts: Set discounts for 28+ night stays
Cleaning Fees: Add one-time cleaning fees to cover costs
Service Fee: TrueBookings automatically adds a service fee: 5% in Sweden, 8% outside Sweden

Set Weekly and Monthly Rates

Configure extended stay pricing in the Pricing tab:

Weekly Rate: Set discounted rate for 7+ night stays (must be at least 2x nightly rate)
Monthly Rate: Set discounted rate for 28+ night stays (must be at least 2x weekly rate)
Pricing Validation: The system ensures weekly rates are at least twice the nightly rate
Monthly Validation: Monthly rates must be at least twice the weekly rate
Currency Minimums: Different minimum rates apply based on currency (e.g., SEK: 200, EUR: 18, USD: 20)

Seasonal Pricing Strategy

Adjust your pricing throughout the year:

Peak Season: Summer, holidays, and local events (100-200% of base rate)
Shoulder Season: Spring and fall (80-120% of base rate)
Off-Season: Winter months (60-80% of base rate)
Holiday Premiums: New Year's, Christmas, Thanksgiving (150-300% of base rate)
Local Events: Festivals, conferences, sports events (150-250% of base rate)

Sample Pricing Strategy

Season	Base Rate	Weekend Rate	Holiday Rate
Peak Season (Summer)	$200/night	$300/night	$400/night
Shoulder Season (Spring/Fall)	$150/night	$200/night	$300/night
Off-Season (Winter)	$100/night	$125/night	$200/night

Monitor and Adjust Pricing

Continuously optimize your pricing based on performance:

Booking Velocity: Monitor how quickly your property books
Competitor Analysis: Regularly check competitor pricing
Guest Feedback: Use reviews to justify premium pricing
Revenue Tracking: Track total revenue, not just occupancy
A/B Testing: Test different pricing strategies

Special Pricing Strategies

Use targeted pricing to maximize bookings:

Last-Minute Deals: Offer 20-30% discounts for same-week bookings
Extended Stay Discounts: 10% off for 7+ nights, 15% off for 14+ nights
Repeat Guest Discounts: 5-10% off for returning guests
Referral Discounts: Offer discounts for guest referrals
Package Deals: Bundle multiple nights with local activities

💡 Pro Tip: Revenue vs. Occupancy

Focus on revenue per available night (RevPAN) rather than just occupancy. Sometimes a 70% occupancy at higher rates generates more revenue than 90% occupancy at lower rates.

Monitor Your Pricing Performance

Track your pricing strategy effectiveness:

Booking Patterns: Monitor when you receive the most bookings through the Bookings tab
Revenue Tracking: Review booking amounts and total revenue from completed bookings
Competitive Analysis: Regularly check competitor pricing on other platforms
Adjust Pricing: Update your base, weekly, and monthly rates in Settings as needed
Test Different Rates: Try different pricing strategies and monitor booking response

Avoid Common Pricing Mistakes

Steer clear of these pricing pitfalls:

Underpricing: Don't compete solely on price - focus on value
Overpricing: Set rates too high and you'll lose bookings
Static Pricing: Failing to adjust rates based on demand
Ignoring Competitors: Not monitoring market rates
Emotional Pricing: Letting personal attachment affect pricing decisions