The Case Against Last-Minute Discounting
The Case Against Last-Minute Discounting What's on this page: > Introduction > Airlines vs STR’s > Why Don’t Airlines Discount Last Minute > Why do STR’s Discount Last Minute > How to Turn Off your [...]
Price Sensitivity for STRs
Price Sensitivity for STRs What's on this page: > Introduction > Price Elasticity of Demand > Inelastic Demand and Elastic Demand > STR Demand Type: Elastic or Inelastic > Segmentation > Results > [...]
Improving your pricing with NLP
Improving your Pricing with NLP What's on this page: > Introduction > What is NLP? > Training vs Buying a Model > Training > Pipeline and Integration > How Reviews Impact Choice > [...]
Introducing Search Based Comp Sets
Introducing Search Based Comp Sets Introduction Back when I was pricing flights in the airline industry, my VP used to tell me “You can only be as good as your dumbest competitor.” The strong implication was, that if your competitor [...]
How Optimization Models Work
How Optimization Models Work Our previous article was a detailed exploration of how Base Price Models work. That is a good place to start if you want to understand the industry standard pricing model for the short-term rental industry. I went [...]
How Base Price Models Work
How Base Price Models Work Base price models are currently the industry standard in dynamic pricing for short-term rentals. The primary reason this model is so popular is that it is simple and scalable. It is simple regarding the math involved [...]
Key Factors to Consider Before Pricing Your STR
Key Factors to Consider Before Pricing Your STR Property Are you struggling to determine the perfect pricing strategy for your short-term rental property? You're not alone! As a short-term rental owner or property manager, setting competitive and profitable rates can be [...]
How to Overcome Competitor Monitoring Challenges in STR Dynamic Pricing?
How to Overcome Competitor Monitoring Challenges in STR Dynamic Pricing? In today's fiercely competitive short-term rental (STR) market, pricing plays a pivotal role in attracting guests and maximizing revenue. One of the biggest challenges is keeping track of your competitors' pricing [...]
How to Overcome Market Volatility in STR Dynamic Pricing?
How to Overcome Market Volatility when Implementing Dynamic Pricing for STR? Market volatility is an inherent challenge faced by short-term rental (STR) owners and property managers when implementing dynamic pricing strategies. Fluctuations in demand, seasonal changes, and unforeseen events can impact [...]
What are the Challenges in STR Dynamic Pricing?
The Complexities of Implementing Dynamic Pricing in the STR Market Dynamic pricing has emerged as a powerful tool for property managers and short-term rental (STR) owners to optimize revenue. By leveraging data-driven strategies, dynamic pricing enables property managers and STR [...]
