Why Do Base Price Models Need So Many Comps?
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 [...]
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 [...]
Customer Segmentation in STR
Customer Segmentation in STR In the dynamic world of short-term rentals (STR), where competition is fierce and guest expectations run high, property managers and owners are constantly seeking strategies to stand out and drive revenue. Enter customer segmentation – a powerful [...]
How to Overcome Technical Infrastructure Complexity in STR Dynamic Pricing?
How to Overcome System Complexity and Technical Infrastructure in STR Dynamic Pricing? In the bustling world of Short-Term Rentals (STR), dynamic pricing has revolutionized revenue optimization by tailoring rates to real-time market dynamics. However, this innovation comes hand-in-hand with challenges surrounding [...]
