Our price engine monitors the variables that affect the optimal daily price for your property on a daily basis.
These variables include data like number of listings in your area, their price, the Airbnb occupancy in your area, hotels prices and occupancy and analyses it together with other relevant information like historical occupancy, day of the week influence, etc. Using that data our statistical model calculates the best daily price for your property to maximize your revenue.
Two key factors to take into account:
- Our recommendations are for an average property located in your area. But no one knows your property's like you, the host, so it is a good idea to fine tune our recommendations. If your property is of lower quality than average in your area, or has few or poorer reviews, you should adjust our recommendation to the lower. At the contrary, if you know your property has better quality or better reviews than average, you should apply a higher price.
- The goal of our recommendations is to maximize your listing's revenue. That it is not the same as maximizing the occupancy. It is normal to have some days free periodically. It is counterintuitive but, if your have 100% occupancy, your are losing money!