How to Choose a Pricing Model
What's on this page: > Introduction > Types of Models > Rules Based Model > Optimization Model > Gains from each model > Why they are limited > What model is right for your business? Introduction Read More
How to Select a Revenue Manager
What's on this page: > Introduction > Qualifications > Full-time or Consultant > Expectations > Software > Revenue Meetings > Other Industry Experience > Pushing Pricing Science > Evaluating Performance > Conclusion Introduction A Read More
How to Respond to Pricing Complaints
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
Dynamic Pricing ≠ Optimized Pricing
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
Revenue Manager vs Revenue Scientist
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
Why Do Base Price Models Need So Many Comps?
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
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 Last-Minute Strategy and Make More Money > Downward Spiraling > Read More
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 > Recommendations Introduction When prices go up, people buy Read More
How Price Optimization Models Work (Explained Simply)
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
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 in setting the price, there are no probabilities or advanced statistics required Read More
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