What's on this page: > What Is Price Competitiveness? > Other Competitiveness Data Sources > How to Respond to Pricing Complaints? > Supporting Data > Humility in Communication What Is Price Competitiveness? Price competitiveness refers to the difference in Read More
What's on this page: > Introduction > History > Dynamic Pricing > Optimized Pricing > Other Models > Does changing prices increase your revenue? > Dynamic and Optimized Pricing > Conclusion Introduction Sometimes, it seems there Read More
What's on this page: > Revenue Management > The Revenue Manager > The Software > Revenue Manager + Software > Changing the Output > Fixing the Input > The Revenue Scientist > Market Fragmentation Revenue Management Read More
What's on this page: > Introduction > What is the Base Price model? > How Does a Base Pricing Model Set the Price? > Why Were They Built This Way? > The Disincentive for Innovation > The 3rd Option Read More
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 Last-Minute Strategy and Make More Money > Downward Spiraling > Read More
What’s on this page: > Introduction > Price Elasticity of Demand > Inelastic Demand and Elastic Demand > STR Demand Type: Elastic or Inelastic > Segmentation > Results > Recommendations Introduction When prices go up, people buy Read More
What’s on this page: > Introduction > What is NLP? > Training vs Buying a Model > Training > Pipeline and Integration > How Reviews Impact Choice > Results, Limitations, and Competitors Reviews > Conclusion Introduction Read More
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 has bad pricing or drops their prices you can be forced Read More
Our previous article explored how Base Price Models work — the industry-standard pricing model for short-term rentals. It's a reliable, scalable model that makes your nightly rates fluctuate with the market. What it doesn't do is optimize pricing for maximum revenue. That's where this article picks up. Read More
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 in setting the price, there are no probabilities or advanced statistics required Read More
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