How to Optimize Your Pricing Strategy
Set nightly rates, discounts, and seasonal pricing to maximize occupancy and revenue.
Understand Market Pricing
Research similar listings in your area. Note nightly rates, occupancy, seasonality, and what amenities they include so your price is competitive without undercutting your property.
Set Your Base Pricing
Choose a base nightly rate that covers costs and a fair profit. This is the starting point for discounts and seasonal ranges.
Set Weekly and Monthly Rates
Offer weekly and monthly discounts to attract longer stays. Longer bookings reduce turnover costs and empty nights between short stays.
Seasonal Pricing Strategy
Raise rates in high season and around local events. Lower them in quieter months to keep occupancy up. Save seasonal ranges in the Pricing tab.
Sample Pricing Strategy
Keep a clear base rate, a modest weekday discount if weekdays are slow, a smaller discount on weekends, and higher event or holiday ranges set early.
Monitor and Adjust Pricing
Review occupancy and revenue per available night. Small, regular tweaks usually beat rare, large jumps.
Special Pricing Strategies
Use last-minute discounts for empty dates, early-bird rates for far-out bookings, and event premiums when demand is certain.
Pro Tip: Revenue vs. Occupancy
Aim for revenue per available night. Sometimes fewer bookings at a higher rate earn more than high occupancy at low rates.
Monitor Your Pricing Performance
Track bookings, average nightly rate, and empty nights. Adjust the next season based on what actually booked.
Avoid Common Pricing Mistakes
- Pricing far below the market to “get reviews” for too long
- Never updating rates when seasons change
- Forgetting cleaning fees in the guest total
- Undervaluing event dates until they are already booked
Frequently asked questions
Should I prioritize occupancy or nightly rate?
Aim for revenue per available night. Sometimes fewer bookings at a higher rate earn more than high occupancy at low rates; test seasonal and event-based adjustments.
How often should I change my prices?
Review at least when seasons or local events change. Small, regular tweaks based on demand and competitor rates usually work better than big, rare jumps.