This forum is dedicated to connecting hosts with other hosts. Sign up to get the latest updates and news just for AirBnb hosts! Note that we are not affiliated with Airbnb - we are just passionate hosts!
I’m doing well - almost TOO well - with a lot of bookings. I remember reading at one time that you should aim for 50% occupancy; I am much higher than that.
For context: I have 3 private rooms in my home, max stay is 5 days. All 5 star reviews but the occasional 4 for ‘value’. I have many ‘return’ guests, including 2 who are regulars 3 weeks of the month at times .
Is it time to raise my rates? If I go up a few dollars per room, it might mean less favorable reviews? Do I leave rates as they are?
My attitude has always been that if your prices are attracting the kind of guests you want, why change them?
I have upped by room price by a couple of bucks every year or two, just to cover increased utility and amenity costs.
Some of my guests have told me “You could charge more for this, you know- it’s great value.” My response has been “Well, I probably could, and thank you for your appreciation of what I offer, but my pricing seems to attract great guests who are a good fit for my place, so I haven’t seen any reason to mess with something that’s working.”
Just because you could charge more doesn’t necessarily mean you should, unless you don’t feel you’re being fairly compensated. Like you say, it could lead to guests who “expect” more, or who give lower value ratings, or who might be more likely to make up complaints to try to get refunds.
That said, I don’t think raising your price by say $2/night is going to make a difference in the kind of guests you attract, and would put another $60 in your pocket every month @100% occupancy, but raising it by $10/night might attract fussier guests.
We also have to keep in mind that the taxes and Airbnb fees to guests increase when we increase our nightly rate, so factor that in when deciding if and how much to increase your rate.
Whatever you charge, there will always be guests who think it is only a 4 on value - not least because of the service fees on top. I found too low a price and you will get more bookings but not necessarily the guests you really want, too high and some guests will for sure get picky and expect maybe more than they should.
I upped my prices a bit post covid to allow me to take slightly fewer bookings but still earn a good amount - but that means you have to make sure your offering still exceeds their expectations! And not worry too much about being unbooked. Definitely less wear and tear on my properties with slightly fewer bookings. I also now don’t generally have same day changeovers which means I can offer total flexibility on check in/out times which is a bonus to most guests. In comparison to others in my locality we are not the cheapest nor the most expensive, but in the upper bracket. Although to be fair there isn’t a lot of competition close by. And maybe 50% are returning regulars, most of whom now book directly and thus save on service fees.
If you are happy with the guests you’ve got and the amount of bookings, and you’re making enough money on it, I wouldn’t change it other than marginal inflation increase. If you want to change what you get then yes, adjusting your price is the obvious route.
And if a host is feeling burnt out, run ragged with “almost too many bookings”, while upping your price might bring less but more lucrative bookings, if a host is worried about starting to get more entitled guests, the alternative is to just block a few days here and there to give yourself a break.
Yes! The thing to keep in mind is that you can change pricing, settings, etc., but none of that is written in stone. Doesn’t work out? Change it back. Experiment. Find out what works best for you and your listing.
My husband was in a hotel once where there was a convention for the hotel industry. He chatted up one of the attendees, and they told him 70% occupancy was the industry-norm target.
I try to keep raising our rates until we start losing some business. But I usually also have improvements to justify it (new floors, a new kitchen, new furniture, etc.)
I generally have 80-85% occupancy, but it does sometimes become a headache on checkin checkout days. One wants a late check out whereas the other one wants an early check-in.
For pricing I keep it quite high, based on the top rates I was receiving the previous year, and then start lowering it within 2 or 3 months of the date if still vacant. I have in my mind a minimum below which I would not go.
Hi Rolf! I’m sorry this is not an answer to your inquiry, but I was wondering if there are hosts here who would be open to participating in research about the experiences of Airbnb hosts.
As a passionate Airbnb enthusiast and a Marketing PhD student, I’ve decided to dedicate my thesis to exploring the unique journeys of hosts like you. Your stories truly inspire me, and I believe they deserve to be heard.
I’d be more than happy to provide my university credentials and share more about my research. If you’re willing to share your journey, please reach out! It would mean the world to me.
One of the best changes I’ve made is having a 2 day minimum. When I did 1 day bookings, I set it up to have a blocked day between reservations. The 1 day turnover just got to be too much and, frankly, the extra cleaning didn’t help with the revenue. Just something I’ve tried and, so far ….
