How to set up a base price?
Summary
AI-generatedThis video explains the critical role of the base price in short-term rental revenue management. Hosts will learn how to use tools to compare their listing to competitors and avoid common mistakes like setting prices too high or too low, or only considering high season rates.
Key insights
The base price is the cornerstone of all pricing strategies, serving as the foundation upon which premiums, discounts, and occupancy-based adjustments are applied by algorithms.
Mistakes to avoid
Using high season rates as the base price can cause your rates to be too high during the low season, leading to lost bookings and empty nights.
Tools & resources
PriceLabs Free Trialservice
A free 30-day trial period is available for those considering using the PriceLabs platform.
Frequently Asked Questions
Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial