In a growing market there is also increasing competition.
If there are many apartments advertised in a destination, the value of bookings changes: there will be increasingly more owners interested in increasing their number of bookings, and this often leads to price declines and / or specific offers, especially in periods of low occupancy.
The economic situation in recent years does not help either: more and more customers are choosing a property or even a destination for their attractive prices. To be more competitive, you must review how the apartment is ranked in the market and look into how you could improve your visibility.
On many sites, it is possible to sort the results by price: is the fastest way to see how an apartment is ranked. While deciding your pricing, you must consider the following factors: – Number of rooms – Capacity of apartment – Location – Proximity to public transport – Services offered – Availability.
Deciding which prices to set in a given period of time is the result of the comparison of the above with other apartments in the same destination. Apply discounts or raise the price of your apartment.
For periods of low occupancy or to fill gaps in a short period of time, you can use discounts and, above all, Last-minute deals. But it is important to note that prices do not necessarily have to be lowered at all times: an owner has to know what the peak seasons are and if there are special events in their destination.
You can also create many seasons: This will help you when you need to adjust prices for specific dates.
Source: Only Apartments