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Hello everyone. I have a quick question regarding weekend pricing and any feedback would be appreciated. It took us the last six months or so to figure out that our weekend pricing (Fri and Sat) is around the £68 mark. Our main market is people visiting friends and family. 90% of our 2-day bookings are for the weekend with the occasional weekday booking too. Since we get so few weekday bookings, and in an attempt to attract professionals who are passing by on business, we reduced the weekday price (Sun to Thu) to £58. In other words, the weekend price is 17% higher than the weekday price. I have yet to see whether the £58 will work.
Can I get some feedback on the 17% weekday/weekend pricing differential? For those whose main market is weekends, do they have an even greater differential? I think I might have seen 25% before. We might combine the lowering of the price to a 3-day minimum stay for weekdays. Any thoughts would be appreciated.
It’s for a guest suite, also called annexe or granny flat in the U.K.
Wow, 300%. Yikes. So you are charging FOUR times your weekday price? That’s incredible. Can you give me some numbers? $50 versus $200? If you charge that little for weekday, do you have a minimum length stay? Any help would be appreciated.
I think you need to come up with a price differential that works for your listing/market. Do your research locally and see what the market will stand. There isn’t a magic formula, unfortunately!
There are hosts who have posted here that they basically have a 100% price differential. Their listings are mostly booked on weekends and they want to be booked all the time so as an open day approaches during the week they will lower their price. So $300 on weekends, under $150 on weekdays.
Also check the differentials at hotels in your locality, they’ve got it fine-tuned. Where I am I have to discount on the weekends to match the hotels that are practically giving away rooms because their corporate clients aren’t booked.
I go $360 to $290 (24%) and then continually lower weekdays to as low as $150 - that works out as 150% difference. Just start high, work out the lowest you are willing to accept and 10 days to 2 weeks out keep decreasing daily until you get a booking. That’s what works for me in my market and I have a very high occupancy rate.
Most of my bookings are couples coming down from Melbourne (Australia) for the weekend. I charge $115 pn for that. During the week I am happy to get bookings, usually from retired people, for $95. I don’t go any lower because I am 75% booked and if I get the occasional week off I am happy with that. I guess the best way is to think of it as two different markets and adjust your price accordingly.,
We were looking for somewhere to stay the other weekend (I live in Melbourne) and my husband called out Jam Jerrup. I said there’s a really nice guy on the Airbnb forum that talks a lot of sense with that name! I had never heard of the place and I lived directly across the bay at Somerville for 25 years.
Yeah that would be me. You live on what I like to call the “fashionable side of Westernport”. People who have been going to Phillip Island for decades are like “we never knew Jam Jerrup existed”.
DM me and I will send you my email and you can book without paying AirBnB’s exorbitant fees.
Have a look at what your local professional hoteliers charge.
As they have pro-tools and quality stats, they will give you the best idea of the working differentials during the yearly cycle
Im in the UK as well. Its £55 most weekdays (it goes higher if there’s an event in town). Then £80-100 on fridays and £180-450 on Saturdays again depending on events. No I dont have a minimum length as most people only stay for one night on weekdays. It really depends on your location though. My weekday is low because all the hotels are offering rooms for £30 and most people dont travel in groups on weekdays. (The apartment can fit 6-7 people). For weekdays is booked for groups of 2-3 people most of the times.
