How do you all drop pricing for last-minute unbooked dates?
Do you start dropping prices 10 nights out? 5 nights out? etc.
And by how much do you drop prices?
I used to drop prices seven nights out. I stopped because I felt resentful of guests who got all I offer at a reduced price. I haven’t noticed any difference in the number of guests who reserve last minute.
I would rather have a few days off than lower my prices
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I drop rates 2 weeks out., but like others have said, there is a point at which i wold rather just have a vacancy.
We don’t drop prices…
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I don’t drop my prices either.
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I occasionally drop the price 10 or 15% if I have a free night and the next day. If I have nothing to do Wed and I figure I may as well turn over the Airbnb room that day then I’ll drop the price for Tues. I don’t usually know this until a day or two in advance. Luckily, last minute one or two night bookings are my staple so this works for me. However, I’m just as likely to want the free day more than a booking and my price is already close to my bottom all the time.
I increase my rates 
Yep. I start increasing by $10 when I am 2 weeks out. And yes, I still have people booking.
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I’ve done this as well and gotten bookings. I figure all the other airbnbs are booked and someone might be desperate. I only do this day before or same day though.
To the folks that don’t drop prices, how did you arrive at your current rate?
I assume it’s not too high that your occupancy rate is below what you’re happy with.
And I assume it’s not too low that you’re leaving money on the table.
Do you guys adjust your price for weekends & holidays? What about high vs. low seasons?
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I check the competition for similar places. I look at the price tips but don’t usually use them.
I recently implemented weekend pricing because it seems I was getting booked on weekends. But even a few dollars makes a difference in my market. I don’t have seasons because I have travelers not tourists. Because I’m in El Paso TX people pass through here year round.
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I recently started dropping my nightly rate from $150 to $120, 10 days out. As a result, I noticed that I got inquiries from people who were “bargain shopping” and negotiating for a further discount (which otherwise, rarely happens to me). I also noticed that these guests clearly had accommodations elsewhere (these were people flying in for vacation) and they were likely canceling on other hosts, and screwing them over last minute.
I didn’t feel good about accepting those bookings and I’ve decided against dropping my rates last minute in the future. My whole body feels lighter and I’m nicer to my kids when the apt is empty!
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I love it! That’s what hotels and airlines do. I’d just be worried about getting dinged on the value rating. But not that worried - 