I'm a 'Race to the Bottom' Guy for Last-Minute Nights, and My Gross Incomes Are Higher Than Ever.

The Short Term ShopOct 3, 202520m 37s493 viewsScore 85
Pricing & Profitability
advanced
dynamic pricing
revenue management
PriceLabs
seasonal pricing
last-minute deals
M

Summary

AI-generated

This video demonstrates a live pricing session using PriceLabs, focusing on strategies for last-minute bookings and optimizing rates for different property types and seasons. Hosts will learn how to adjust pricing dynamically, manage calendar gaps, and leverage custom seasonal profiles for increased gross income.

Key insights

  • Separating properties into groups (e.g., by location like beach vs. mountain) and adjusting their importance based on the season can optimize pricing, with beach properties being de-emphasized in the fall.

Mistakes to avoid

  • Setting prices too high for undesirable dates, such as the Monday after Thanksgiving, can lead to unbooked nights and lost revenue.

Tools & resources

  • PriceLabstool

    PriceLabs is a revenue management tool used for dynamic pricing, optimizing rates, and managing calendars.

Frequently Asked Questions

Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial