Airbnb has revolutionized the way we travel. With its increase in popularity, other similar sites like VRBO and HomeAway have popped up. For travelers, hosting sites are great because they offer more variety and affordable prices. For hosts, it is a great way to make some extra money. The rate a host charges has direct relation to their ability to book stay, which affects their profit. Everyone wants to increase their profit, right? So, what is the best way to do this? One of the best ways to increase profit for your Airbnb, VRBO, or HomeAway business is to employ pricing software such as Beyond Pricing.
How To Increase Your Short-Term Revenue By 40% Or More
Did you know that by utilizing Beyond Pricing, you could increase your revenue by 40% or more?! That is a huge increase in profit for many hosts. The software works by syncing directly with you Airbnb, VRBO, or HomeAway listing, and automatically adjusts the rate for you. This saves you time, and guarantees you are charging an appropriate rate. Beyond Pricing relies on several factors when determining the rate for your rental. It takes into consideration peak season times, and adjust rates accordingly. After all it doesn’t make sense to charge an off season rate during peak season, anymore than it makes sense to charge a peak season rate during off season. It also analyzes the following:
- Local Events
- Vacation Rental Sites
- Local Hotel Rates
- Weather Reports
- Air Travel
By conducting research on the above mentioned, beyond pricing as the ability to adjust rates seamlessly. This allows hosts to advantageously price their listings, but also remain competitive.
Increase Occupancy With The Right Pricing
One of the biggest draws for consumers to go with an Airbnb, VRBO, or HomeAway listing instead of a vacation rental or hotel, is its affordability. Running a success Airbnb, VRBO, or HomeAway listing takes a lot of time. Many hosts put a lot of energy, time, and resources into their guests stays, driving those 5 star reviews. Guest satisfaction and favorable reviews are just a couple of ingredients to a successful enterprise. Competitive rates will help increase occupancy and increase profits.
Adjust Rates For Peak Events & Slow Times
It is important to be able to adjust rates according to what is going on in the area. Many hotels rely on software to help compile their rates. Beyond Pricing allows Airbnb, VRBO, and HomeAway hosts the same type of technology. Have you ever noticed that hotel rates by the beach sore during the summer season? That is because it is peak season for coastal areas, as the weather is warm, the kids are out of school, and people start taking their vacations. Rates rise because the demand increases. For Airbnb, VRBO, and HomeAway hosts to keep their rates the same all year long, creates missed revenue opportunities. Beyond Pricing helps take the guesswork out of pricing and does all of the research for you. This saves hosts time and money, which allows them to put more time and money into their guest engagement. Beyond Pricing does charge a 1% fee of peoples rates, but the fee is well worth it in the long run, with a projected increase in revenues at 40% or more! Fore more information on Beyond Pricing, and other tips related to your Airbnb, VRBO, and HomeAway business click here!