vacationrentalspricing

Vacation Rental Pricing Strategies for Booking.com

Are you charging the right price for properties listed on Booking.com? Or perhaps you can further optimize rates but don’t know where to get started? Finding the ideal pricing balance without risking revenue or occupancy loss can be tricky but it’s not impossible. There are several vacation rental pricing options available so you can maximize earnings in the long run. We take a closer look here to help you decide on the best pricing strategy for your short-term rentals!

Vacation Rental Pricing Options at Booking.com

Price per Night Derived Pricing  Length of Stay Discounts Advanced Options 

1. Price per Night

The most common and easy vacation rental pricing model to both apply and use, Price per Night is easily set by inserting the amount to charge for each night and selecting the dates and minimum stay.
Benefits: This rate type is the most simple and straightforward to apply and manage, especially when it comes to adding promotions and deals.
How it works with Rentals United: Rates are synced within few minutes from Rentals United to Booking.com. Following few easy steps, you are able to connect the nightly price, minimum stay and calendars (process known as Mapping).

2. Derived Pricing

Derived Pricing (also known as Price per Guest or Occupancy Pricing) is very convenient if you want the price to change depending on the number of guests. Start by creating a Base Rate for a specific number of guests and from that base, add a surcharge for additional guests or undercharge for less.
Benefits: In addition to generating more revenue for a higher number of guests, his pricing type allows you to apply discounts or changes only to the Base Rate, while the system calculates automatically the price for each occupancy, automating the process.
How it works with Rentals United: One option is to connect the Base Rate from Rentals United and add the extra guest charges directly in the Booking.com extranet. Alternatively, you can add occupancy based rates in Rentals United and sync them directly to Booking.com. The mapping process takes few minutes to complete.

3. Length of Stay

Length of Stay Pricing (LOS) is a clever way to offer a discounted rate for longer stays while keeping in check revenue targets. The minimum stay is also more flexible as the nightly rate adapts to it.
Benefits: Aside promoting longer stays, Length of Stay pricing can be used to better manage your revenue for a certain period, regardless of the number of nights being booked.
How it works with Rentals United: You can choose to insert your Length of Stay rates one by one or automate the process by using an advanced Property Management System that offers this feature, like YesBookIt and Tabs that are integrated to Rentals United.

vacation rental pricing

4. Discounts

Also found as Promotions in Booking.com, there are plenty of Discount possibilities to choose from and adjust depending on your final goal. From offering a Free Night, a Basic Deal, a Last Minute Deal and reduced pricing for Early Bird Bookings, to setting promotions targeting specific markets: e.g deals visible only to clients booking from China. Browse around the many options! Deals will all be applied using the policies and restrictions of your main rate (Price per Night, LOS or Derived Pricing).
Benefits: Promote bookings with longer stays, get your property highlighted on the website with a deal tag, secure advanced bookings and avoid remaining unbooked and more.
How it works with Rentals United: Only sync the main rate from Rentals United and create the discounts directly in your Booking.com extranet. There is no need to sync again the discounted rates. The system will calculate the discounts as derivatives of the connected rate.

5. Advanced Options

Non-Refundable Rates – After you’ve set up a main rate (Derived, Nightly or LOS), you can choose to create a version of it as Non-Refundable. Normally these rates are lower and get applied to those periods when you wish to avoid cancellations and refunds, making sure you secure revenue even in case of no-shows.
How it works with Rentals United: Create the Non-Fundable rate in your Booking.com extranet and afterwords sync it with the property in Rentals United.

Weekend Pricing is one another advanced options you can make use of. It allows you to increase pricing for weekend days with high demand, such as Friday and Saturday. This is one of the numerous options available at Rentals United Channel Manager.

Preparation Time Before Arrival – the number of days you would require to prepare a property for a last minute booking. Leaving this setting at 0, means you allow guests to book and arrive on that same day. Set it at 1 if you need one day notice and so on.

Changeover Days – this advanced option allows you to decide which weekdays are Checkins and Checkouts permitted. It’s especially useful for those properties rented out seasonally when you might want to limit departures on specific days, e.g a Saturday during high season.

 

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