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Daily: weekly: monthly price ratio?


#1

dear all,

would you have some recommendation for the ideal daily: weekly: monthly ratio for pricing your place? i guess it should deviate from 1:7:30, but i have a hard time figuring how to price it properly. any advice would be highly appreciated.

thanks!


#2

I don’t give discounts on weekly or monthly because I am a tourist destination (Miami) so the discounts are manually priced on week days and 10 dollars higher on weekends. HIgh season will be higher be I a a new host for I am taking a lower pricing to gain more reviews.


#3

I am in Miami too (Kendall). Totally agree and am taking the same strategy as you. I have 5 positive 5 star reviews so far, awaiting a few more “5 star promises” and will raise rate slightly. I won’t give a discount for long term because I don’t want long term folks. Unless they throw ton’s of money at me, then I’m yours :laughing:


#4

Welcome Miami host!!! just try to be friendly when they arrive and answer any questions. I am in Cutlerbay so I carter to keys folks. Cater to your area and you will be fine.


#5

I agree with the above hosts. I am in NY and I do not offer longer-term discounts for weekly stays, and would probably reject someone staying too long (again, unless of course they paid well)

I think the optimal stay is probably 3-4 days, assuming guest check-ins aren’t a hassle for you. Anything shorter than that and you’re not getting your time worth of doing laundry/changing sheets. If the guest stays longer, you’ll have to change sheets and do a decent house cleaning during their stay, but you won’t collect a 2nd or 3rd cleaning fee to cover the cost/time.

Plus I like meeting new people!


#6

I was just thinking about this this morning. I agree with G-host - our guests stay in our home, and as the old adage goes “fish and company both stink after 3 days”. I got an 8 night booking last night and the recommended discount I used hurt, because my price was a bargain.
So you have to figure out what you want, and what works for your situation.

Overnight bookings are more work for less money, but are still income to act as ‘mortar’ between the ideal booking, and you are left being sad the good ones are leaving but relieved if they are annoying.

Longer bookings are more money for the work, but can wear on us hosts in other ways. (if you share) Some guests will annoy you by night 2 and if there are 5 more nights to go its going to get stressful!!!

So last night I raised my nightly rate and lowered the discount a bit so I still get compensation for the aggravation longer-term guests sometimes are.


#7

I am confused as to how this discount thing works that they recently introduced. I have varying nightly rates and then I set a weekly rate. Of course this all changes depending on the season. So I don’t understand when it says I offer 9% off or something. Is this just for the guest to compare percentages? Or is Air changing my rate.

I believe it said if I change my nightly rate then it will adjust the weekly rate. I called when this first came out and of course the rep. had no idea what I was talking about. She asked her supervisor and she could not explain how it works. Can you give me an example using some numbers?


#8

Yeah, I don’t like this percentage scheme. It’s confusing and makes it harder for guests to compare rates at a glance - they have to whip out a calculator, and then they’re still not sure. I don’t understand who it benefits. My weekly discount converted to 17% - great. Nice round figure.


#9

I don’t understand it! Do you? If I have my weekly rate posted is that what the guest will receive as a quote?

It mentioned something about if I lower a couple of my nightly rates for the week then they will use that to adjust my weekly rate…or so I thought. I guess I can call again since this has been out and ask for clarification. Maybe now they will have an answer.

All I want is for them to go by nightly rate and weekly rate that I have chosen. I don’t want them adjusting prices just because I may lower a nightly weekend rate last minute. Any ideas?


#10

I adjust my calendar manually to meet whatever demands or lack of demands are currently happening.

My base price is $79, but that is only applicable one month out of the year. The rest of it is priced at $99, except for Christmas week which is priced at a block of $900. I don’t offer a discount for anything whatsoever, (weekly, etc.) as I am already budget priced, and if they don’t appreciate that they can go elsewhere. :slight_smile:


#11

No, sorry. I don’t micromanage my prices like that. I just find it odd & irritating that Air would impose a significant change like this without at least running it by the hosts first. And as far as I know, there’s still no official forum to discuss things like this. We’re being treated the way anybody using any free service is treated - take it or leave it, you have no right to voice any concerns, when in fact we all have quite a lot invested in this. It’s not like it’s a free email service or some simple cloud app.


#12

But does anyone understand how this works for those of us who have nightly and weekly rates?

I am getting on the phone and will report back.


#13

If a guest searches for listings and the dates are a week or longer, the discounted price shows.

For instance, my rate is $79 for May. However, if I choose a stay of 8 nights, the price that shows up on the search is $67. (Yes, I’m fixing that right now!)

When guests book for that many nights, their rate is based on the discounted rate factored PER NIGHT. This happened last night. A family of three instant-booked for 8 nights in May and the nightly rate (because of the discount) was ridiculous. It was an eye-opener. (So I’ve raised my rates and reduced the discount).

Like Kona said, if I’m priced right, I’m priced right. While longer stays save me the cleaning, it can cause other problems, so I’m not going to discount it so much. AND, if you charge a cleaning fee, the discount isn’t necessary at all. They are, in a way, getting the discount because they pay the same cleaning fee as the person staying 1 night is.

I hope this helps, cabinhost!


#14

Thanks for the explanation but they have always discounted the 8th, 9th, 10th night based on the weekly rate divided by 7. Has anything changed?


#15

Sorry I didn’t understand in the first place, and not sure I do now, lol - but once I go more than 7 nights every night is discounted - so for instance, if I request for 10 nights, the price detail says "$67 x 10 nights $672.

Did I get it?


#16

Yes, you understand…lol. and that is how it always has been. That’s why I had to limit my stays to 7 days. Air was trying to give away my prime weekend at discounted weekly rates.


#17

Is this automatic or something you set?


#18

It’s something set in pricing - when they changed the format they suggested a 15% discount for weekly rate and 30% for monthly. I followed blindly. I’ve changed it now.

I’m shivering here!! Hope it lasts for you!


#19

LOL!!! Can it please stay cold enough for me to wear all my cold weather fashion duds… my new boots, coat and leggings!
Then it can go back to being warm after I leave. LOL.


#20

I don’t see how discounts benefits them–unless it is in the form of volume. I don’t happen to think a longer stay is worth a discount. If anything, we should charge more!


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