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Do you keep a list of events in your area that tend to bring in guests? If so, do you increase prices for those popular dates?
We do. College parent weekends, college graduations, homecomings, big conventions, sports competitions, concerts, any school reunions I find out about, etc.
And we keep learning about new ones each year.
Keep a list, no but I do increase prices during the few events we have that bring people to town. Some aren’t on any lists that I’ve found but I find out from the people booking. For the most part though we don’t have the kinds of events here that would justify jacking up the price much.
I thought most hosts kept a list of local events. Unlike where @KKC is, we have events almost all the time. I always put prices up for events and there are two annual local events that mean that I can more than double the nightly price. For several other events I can almost double the price. The same goes for Easter, Christmas and so on.
In addition to the list I also keep in contact with the organisers of local events, exhibitions, concerts, festivals etc. etc. etc. and get a lot of business from them.
I’m in the middle. I adjust prices for peak season so I can make enough to cover mortgages, expenses, maintenance etc for the rest of the year.
It is a summer vacation destination with thousands of STRs.
Increasing rates for off-season special events translates into “no rentals” because of the huge number of empty rentals.
Smart pricing does the adjusting for me based on availability which decreases as people book for it. It’s usually only a couple dollars (for a $35-$60/night rate) but sometimes as much as $20-$30.