Setting your pricing strategy

Revising your pricing and availability routinely can help you stay competitive and meet your earnings goals. Here are some ways you can develop your pricing strategy.

There are a few things to prioritize when you’re setting your pricing and availability.

• Open more nights: This helps your listing appear in more search results. If your settings are blocking dates, you’ll find tips to unblock them. For example, if your minimum length of stay is 5 nights and you have 4 unbooked nights between reservations, you’ll see a tip to lower your trip minimum for those nights.
• Update your availability settings: This helps you host on a schedule that works for you. Easily adjust your trip length, advance notice, preparation time, and more.
• Check price tips and similar listings: These tools help you price competitively for different days, seasons, and special events. You won’t see price tips or similar listings if you use Smart Pricing.

“I like to look at similar listings so I can compare my prices, make sure I’m not priced too high or too low, and find that sweet spot that’s ideal,” says Karen, a Superhost in Nelson, Canada.

When adjusting your pricing, keep in mind the total price guests pay, which includes any fees you add.

Even the most popular listings can have quiet periods with fewer bookings. Here are a few ways to help your listing stand out.

• Offer discounts: Weekly and monthly discounts can help fill your calendar and reduce turnovers. A last-minute discount can appeal to guests booking 1 to 28 days before check-in.
• Shorten advance notice: Letting guests book closer to check-in can help you attract more bookings. Choose a lead time as short as the same day, depending on how much preparation you need.
• Allow shorter stays: Lowering your minimum trip length appeals to guests looking for a quick getaway. You can set a minimum night stay based on the day of check-in.

“I’m definitely seeing more stays that are for a shorter length of time,” says Jimmy, a Superhost in Palm Springs, California. “It’s last-minute stays that people haven’t necessarily planned, so 2 days feels like a good vacation. The flexibility is attractive.”

Several Airbnb tools can help you make the most of times when guest demand is higher. Here are a few tactics to consider.

• Pay attention to holidays and special events: Update your availability and pricing ahead of big concerts, festivals, sporting events, and more to help boost your bookings and earnings. Your calendar highlights most of your area’s holidays and major events.
• Add an early bird discount: Reduce your price for bookings made 1 to 24 months in advance to appeal to guests who plan ahead.
• Extend your availability window: Going beyond the 3-month minimum means your listing will appear in more search results. You can open your calendar up to 2 years in advance.

“Sometimes I get people booking a year in advance for summer holidays, or for Christmas 6 months in advance,” says Anne, a Superhost in Tarragona, Spain. “People who tend to book in advance don’t usually cancel. It’s also important because then you will know what is coming ahead.”

You control your pricing and other settings at all times. Your results may vary.

Hosts were paid for their participation in interviews.

Information contained in this article may have changed since publication.