Dynamic Pricing Tools & Strategies For Airbnb Vacation Rentals

What is Dynamic Pricing?

Knowing what to charge for your rental property on Airbnb or any other platform can be a complex challenge for many hosts.

It's a time-consuming process and will depend upon your end-goal of maximising revenue or bookings

It's important to remember that pricing tools are not necessarily designed to make you more money. Put simply, they are used to optimise your competitive pricing levels to, in turn, maximise booking potential and occupancy levels.


Smart Pricing on Airbnb

What is Airbnb Smart Pricing?

Why many property managers don't like it

Opposition mainly focuses on how low suggested rates are.

How to activate Smart Pricing on Airbnb

  • Login into your Airbnb Hosting dashboard
  • Select your¬†Listing
  • Select¬†Manage listing¬†for your listing
  • Click¬†Pricing¬†at the top of the page
  • Next to¬†Nightly price, click¬†Edit
  • Next to¬†Smart pricing, click the circle to turn on smart pricing
  • Enter a minimum and maximum price
  • Click¬†Save

Other Airbnb Pricing Tools

There are several free and paid pricing tools for Airbnb vacation rental properties and other on the market including Beyond Pricing, Eliot, Outswitch, PriceLabs, Super Host Tools, Vayoo and Wheelhouse.

Here we will focus on one, Vayoo.


 

Other OTAs / Listing Site Pricing Tools

Aside from Airbnb, other major OTAs have also developed and integrated their own pricing tools.

list your holiday rental home on booking.com

Booking.com has its RateIntelligence feature, which helps properties optimize their pricing. Each platform's tool obviously uses its own algorithm, which likely results in some of the price discrepancies.