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For an hour of your time – I assume you have an hour to spend on your money-maker – you can set you own prices on a daily basis for your own local holidays, events, etc for the next year. Save yourself some money.
It was the only one that is working for my city.
edit: for information for my price is in low season last minute 600 sek night, for high season it’s getting to 2000 sek so it’s quite a big difference between season, events etc…
I thought I’d share an interesting experience though. This summer we went to the olympics in Rio. When I started looking for an airbnb to stay in it became apparent that airbnb had set a “special olympic pricing”.
Under these circumstances it would make sense to use Airbnb or another companies recommended pricing scale.
I’m still unsure what data these automatic pricing companies actually use, what information do they have to determine what price to set? I guess fairly basic things like Airbnb results for your area, how much others are charging. I would hope they are also aware of special local events that will increase demand also. I’m sticking to manually changing the price by myself until I feel the price of automatic pricing is worth it, as it can be expensive.
When I first started using SP, it invariably set the price to the minimum I’d set. (I think it was $122 per night). So I would change it manually. I also changed it for events and other dates that are traditionally in high demand.
Until I started doing that, it made no allowance for the fact that the winter months are high season here - it ‘assumed’ that the summer months were the most popular ones. (As I guess they are in many areas).
After a few weeks it ‘realised’ (or more likely its algorithms became more sophisticated) and it started showing prices even higher than I’d ordinarily set and yet that didn’t prevent bookings. So yes, it’s made more money for me
I think it’s pretty unrealistic to expect any pricing service to know which events are happening everywhere in the world. For example, twice a year we have a local art fair that takes place a fifteen minute walk from our rental. Vendors and buyers come from all over the country and the only hotel that is within walking distance books up very quickly. We raise our prices (manually) for that. Also I keep an eye on the local convention centre’s calendar and up our prices when there are large conventions. These are two examples that pricing services just couldn’t do.
So I’m very happy with the combination of SP and my own manual updating.
Abnb has no idea about local events and their smart pricing is a joke. I am in Nashville and hotel prices skyrocket during event…football, CMA, etc
I check prices at my nearby Marriot and adjust accordingly.
If these pricing programs are working for you guys, I think I will give them a try for the slow periods in winter.
So I think it’s going to be regular manual adjustments for me, unless I can find a cheaper automatic one. If there is something out there that charges 1-3% rather then a fixed monthly amount, that would be more appealing.