Adjusting your price and settings to meet local demand
Responding to changes in demand can be key to your success as a Host. You could increase your earnings by making your space available on popular dates and adjusting your price for seasonality, local events, and travel trends.
Last year, listings with prices that were updated at least four times had over 30% more nights booked than those that didn’t.* To help you spot these opportunities, we put together some tips and tools, along with a few suggestions from Hosts.
Understand local demand
Start by searching Airbnb for local listings similar to yours. Paying close attention to how and when other Hosts adjust their prices can help you learn what works in your area. Some key factors to consider include:
- Daily trends. Demand can change with the day of the week, particularly for shorter stays. Fridays and Saturdays tend to be popular with guests visiting for leisure, while Sundays through Thursdays may appeal to guests traveling for business.
- Seasonal shifts. Location can affect demand, particularly in places that draw crowds at certain times of year. Hosting during your area’s peak season can help you earn more.
- Special events. Conferences, festivals, and other big events can create major demand. To keep tabs on local happenings, connect with your tourism bureau, join social media groups, and register with a few event ticketing sites. Local news outlets and universities can also be great resources.
Before adjusting your prices, remember to set your calendar availability so your place is available when you anticipate a spike in demand. You may also want to check your Opportunities tab for insights into what guests are searching for in your area, including popular dates and types of stays.
Customize your price settings
Once you have a good sense of local trends, you can set custom pricing for weekdays, weekends, and holidays—or adjust your rate when a big conference or event is coming to your area.
To figure out what works best for you and your guests, try using the price preview tool. You can plug in varying details to get a breakdown of the price guests will pay and your payout in different scenarios.
Stand out by offering discounts
During periods of low demand, many spaces in your area may go unbooked. Try attracting guests to your listing by adopting a promotion or dropping your price.
Competitive pricing can help your listing rank higher in search, making it easier for guests to find and book your place. Consider creating discounts for different booking situations, including:
Early bird discounts. Opening up your calendar and adding a discount for booking in advance can entice guests who plan ahead.
Weekly and monthly discounts. Encouraging longer stays by offering them at a lower price can eliminate time gaps between shorter bookings.
Last-minute discounts. Reducing your price as the check-in date gets closer can boost bookings and reduce cancellations.
Try these Host suggestions
Knowing what to charge when can be a bit of an art. Here are some favorite tactics Hosts have tried:
- Planning ahead. “We usually get bookings for New Year’s Eve as early as August, so be careful and set your holiday prices early.” —Branka and Silvia of Zagreb, Croatia
- Using minimum-night requirements. “I price the holidays with a four-night minimum, with New Year’s Eve being the highest rate.” —Letti of Atascosa, Texas
Finding value in the slow periods. “I suggest lowering the prices for low seasons to even them out a bit. Or use the time for improvements or maintenance, as it will no doubt get busy again and there will be no time.” —Sandra of Daylesford, Australia
- Expecting some trial and error. “Your best guide is whether you’re getting bookings and good reviews.” —Jeff and Jess of Durham, North Carolina
* Based on listings worldwide (except China, Russia, and Ukraine) that had one or more nights available from January to September 2022 and did not have Smart Pricing turned on. Additional factors affect nights booked.
Information contained in this article may have changed since publication.
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