Joe Fraiman, PriceMethod

Five simple steps to increase revenue up to 40%

Earn More From Your P2P Rental

joe@pricemethod.com

“Dynamic Pricing” refers to adjusting prices based on demand.

“The single most important technical development since deregulation.”- Robert Crandall, former CEO of American Airlines

Hotels use data & software to adjust prices constantly. P2P rentals don’t, and miss 46% additional revenue.

Average nightly prices in San Francisco Hotels compared to P2P Rentals

$0#

$100#

$200#

$300#

$400#

$500#

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Apr# May# Jun# Jul# Aug# Sep# Oct# Nov# Dec# Jan# Feb# Mar#

P2P#Prices# Hotel#Prices#

Your rental can be priced this way, too.

1. Find your ideal Base Price

2. Understand Weekend & Seasonal demand near you

3. Use Major Events to increase rates 100%+

4. Use Temporality to know when and how much to discount

5. Update your prices as Frequently as possible

6. and, a Bonus Tip

Five steps to perfect pricing

Step 1: Find your ideal Base Price

Analyze your competitors: both homes & nearby hotels

For homes, focus on the 4 key factors:

1. Beds, Baths & Location 2. Photos: Number & Quality 3. Policies: Minimum Stay, Fees, Cancellation 4. Reviews

When evaluating competition, look at how they’re booking

Step 2: Understand Weekend & Seasonal demand near you

Pro tip: Listings within the same market are impacted by weekends & seasonality differently.

Seasonality is different in every market

60%

80%

100%

120%

140%

160%

Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar

San Diego Phoenix New York

Conferences, conventions, graduations, sporting events, marathons, music festivals, civic events, holidays, and more, can all impact hyper-local demand dramatically

Step 3: Use Major Events to increase rates 100%+

Every area has local events that impact pricing

80%

100%

120%

140%

160%

180%

200%

Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar

DreamforceOracle

RSA Conference

Gay Pride

Bay To Breakers

VMWorld

Asia Pacific Bioinformatics

New Year’s

Super Bowl

Large homes book earlier than small homes & approaching vacancies are worth less.

120 DAYS 30 DAYS 15 DAYS 5 DAYS

+10% 0% -5% -20%

Step 4: Use Temporality to know when and how much to discount

+5% -5% -15% -25%

1 Bedroom Rental

5 Bedroom Rental

Market prices change every day. Do yours?

Step 5. Update your prices DailyEach day, more data is available and time-to-vacancy changes

Base Price: • Review booking curves of nearby listings • Review you inquiry-to-bookings ratio • Have new reviews impacted your profile?

Weekends & Seasonality • Have seasonal opportunities or troubles emerged?

Major Events • Have any new major events been announced, rescheduled, or canceled? • How much availability is left for known major events?

Temporality • Focus most on next 30 nights • How are competitors discounting?

Bonus! Where you list your home matters

• Bookings in last 30 days • Strong in urban areas • Younger travelers

• Books earlier • Longer bookings • Strong in vacation areas

• Popular with Europeans • Strong w/ biz travelers • Growing fast

• Strongholds in Midwest • Strong mobile app • Fast growing presence

Major channels book differently!

We’re here to help: hello@pricemethod.com

1. Find your ideal Base Price

2. Understand Weekend & Seasonal demand near you

3. Use Major Events to increase rates 100%+

4. Use Temporality to know when and how much to discount

5. Update your prices as Frequently as possible

6. Where you list your home Matters

Review: Five Steps & a Tip

We’re here to help• Automated daily analysis of your entire market • See recommended prices for free • Learn about events near you • Auto-price a day, a week, or your whole calendar • Price across multiple sites • Earn an extra 20-40% more automatically • 2 month free trial • And much much more….. joe@pricemethod.com

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