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    Adjusting your settings to meet local demand

    Adjusting your settings to meet local demand

    Paying close attention to travel trends can increase your earnings.
    Na Airbnb tarehe Nov 20, 2019
    Inachukua dakika 3 kusoma
    Imesasishwa tarehe Nov 20, 2019

    Highlights

    • Weekend vs. weekday travel, seasonality, and special events influence demand

    • Tourism bureaus, social media groups, and ticketing sites can keep you informed about upcoming events

    • Customize your calendar to raise or lower your rate

    • Use the Smart Pricing tool for automated demand-based pricing

      For Airbnb hosts—as with any other business—responding to fluctuations in demand can be key to success. Live in a ski town or summer resort area where tourism is seasonal? Have big conferences or festivals in your area? Don’t miss out on the opportunity to make your space available during popular dates, and consider adjusting your price to attract more guests during the low season. Here are some tips to help you understand the factors that influence seasonal demand, and how to make the most of them.

      Top 3 things that influence demand

      Get out a calendar early in the year to plot out the obvious holidays, then go beyond them to look at events and trends that might increase travel to your area.

      Your Airbnb calendar will also automatically display travel insights for your area, such as nights with unusually high demand and earning potential. Paying close attention to these can help ensure you’re aware of travel trends and available to host if you want to.

      The main factors to consider:

      1. Weekly trends
      Demand can change depending on the day of the week. For most markets, weekends are more popular. But for some places with lots of business travel, weekdays are where it’s at.

      2. Seasonal shifts
      Depending on where your space is located, certain times of the year will be more popular. Is your area a popular winter destination, or do folks tend to flock there in the summer?

      3. Special days or events
      Conferences, festivals, and other big events create major demand. To stay in the know about what’s coming to your area, connect with your local tourism bureau, join social media groups, and register with a few ticketing sites. Local newspapers and universities can also be a great resource.

      Customize your price settings

      Once you have a good sense of trends in your area, you can set custom pricing for weekdays, weekends, and holidays, or adjust your rate when a big conference or event is coming to your area. You can also offer special discounts for low-season bookings.

      We usually get bookings for New Year’s Eve as early as August, so set your holiday prices early.
      Branka and Silvia,
      Zagreb, Croatia

      Consider using the Smart Pricing tool

      The easiest way to adjust for demand? Turn on Smart Pricing. The tool automatically updates your nightly rate based on your settings and over 70 factors that influence price, from seasonal demand to the number of positive reviews your listing has earned. Just keep in mind that you are in charge of your price and that Smart Pricing will not take into consideration everything that impacts what guests are willing to pay for, like a breathtaking view or the level of hospitality you bring to the guest experience. 

      If you use Smart Pricing, make sure to set a minimum price so your rate never falls below a number you’re comfortable with.

      Stand out during low demand

      When there are periods of low demand, many listings in your market will go unbooked. Consider attracting guests to your listing by adopting a promotion or dropping your price. Airbnb highlights attractive prices—those that are lower than usual for a listing—and calls them out as great deals. The best deals even get sent out via email to guests who are searching but haven’t booked yet.

      Try these host hacks

      Knowing what to charge, and even when to update your price, can be a bit of an art. Here are some favorite tactics hosts have tried:

      • Plan ahead. “We usually get bookings for New Year’s Eve as early as August, so be careful and set your holiday prices early.” —Branka and Silvia from Zagreb, Croatia
      • Use minimum-night requirements. “I price the holidays with a four-night minimum, with New Year's Eve being the highest rate.” —Letti from Atascosa, Texas
      • Set prices higher for distant dates. “It means I can have my calendar open to bookings but not have my calendar fill up really fast. It also gives guests who do want to reserve way ahead of time (and pay a premium) the opportunity to do so.” —Paul from London
      • Make Smart Pricing work for you. “You can always set custom prices yourself for specific dates or periods to overrule Smart Pricing.” —Emiel from Leeuwarden, Netherlands
      • Make the most of low demand. “I suggest lowering the prices for low seasons to even them out a bit. Or use the time for improvements/maintenance as it will no doubt get busy again and there will be no time.” —Sandra from Daylesford, Australia
      • Expect some trial and error. “Your best guide is whether you're getting bookings and good reviews,” —Jeff and Jess from Durham, North Carolina

      With these tips and tools, and a little practice, you can make the most of your pricing every day of the year.

        Highlights

        • Weekend vs. weekday travel, seasonality, and special events influence demand

        • Tourism bureaus, social media groups, and ticketing sites can keep you informed about upcoming events

        • Customize your calendar to raise or lower your rate

        • Use the Smart Pricing tool for automated demand-based pricing

          Airbnb
          Nov 20, 2019
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