Reservations, competitiveness and occupancy rates all rely heavily on two factors: rates and distribution. 

If you own a property with vacation rental income potential, there are a few measures that directly affect your ability to make a return on this investment. 

In order to ensure your property is earning to the highest potential, you need a strategy that secures bookings with reliable guests, guarantees your property listing is live on all the right channels and sets your unit’s daily and weekly rates through dynamic pricing. 

Below, you’ll find out how dynamic pricing works hand in hand with the channels where your property is listed to optimize income:

Dynamic Pricing for Vacation Rental Management

Today, vacation rentals are priced through a combination of in-depth pricing history, dynamic pricing strategies, and at Stay Breeze, our team of expert revenue managers. To say the least, the days of only changing the rates for a summer season or on a yearly basis are long gone.

There is a general rule in vacation rental management that to adhere to supply and demand and stay competitive in your market, owners need to consider adjusting rates based on several factors such as:

• Holidays

• Weekdays

• Weekends

• Promotional Specials

• Occupancy Trends

• Traveler Trends 

This would all be a bit overwhelming, if it wasn’t for dynamic pricing and revenue management, done for you by a full-service property management partner. Dynamic pricing providers use AI technology to analyze your local hospitality market in real-time to recommend the best prices. 

The advantage of dynamic pricing is the flexibility to frequently and efficiently adjust prices to perform alongside the competitive supply and audience demand. This makes a big impact in the competitiveness of your property. 

An added benefit of dynamic pricing is that your vacation rental management company will be able to provide accurate reporting and data all in one glance.  A quick review will show how traveler trends affect your rates, where there is more opportunity for your rental income, and why your prices were raised or increased at a certain time. 

When property owners choose to partner with a full-service management firm such as Stay Breeze, they benefit from our revenue manager team’s expertise and third-party vendors such as Perfect Price, PriceLabs or Beyond Pricing. The impact of holistic dynamic pricing strategies on vacation rental income potential is significant.