I have been manually updating my prices on my calendar to match my anticipated seasonal demand. We are in a slow season right now, but tourism to my city starts to pick up around March, and increase until the busy summer season, so I’ve been raising my prices by about $5 a month. What I am charging nightly seems to be appropriate, as I have been booked for a little over half of January (our slow season!), and have a few bookings already for February and March. I was wondering, though, what I should set my base price as. The low rate I am charging now, in my off season? What I plan to charge in summer? Something in the middle?
The base price would be the price that shows up when someone views my listing without plugging in potential dates they’d like to stay. Who looks at the base price? I imagine my competitors in the neighborhood, guests who might find me through Google, and guests who find my listing linked under “similar listings.” (I don’t think I’m showing up as a similar listing yet; maybe I am too new?) I am assuming post potential guests search by travel dates, so they see my seasonal pricing.
I don’t want to seem too cheap to my competitors, who may want to undercut me. When I opened up shop in the beginning of December (last month), I made the mistake of thinking I had to low-ball some of the cheap offerings in my neighborhood, without realizing if I looked at their calendars, they are rarely available to rent, so they aren’t really competitors.