xotelia - why should you implement a dynamic pricing strategy on your vacation rental website?

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Dynamic pricing strategy for my property

Presented by Jeffrey Messud

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What is Xotelia?

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I/ Different rates on different OTAs (online travel agencies).

II/ How to adjust my rates?

III/ Define a simple pricing strategy?

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I/Different rates on different OTAs

- hometogo, Trivago, etc… - How does OTAs reacts.

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Example: Hometogo, Trivago, etc…

Example: I am looking for an apartment

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Flipkey Abritel

Homelidays

Different price on different OTAs

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OTAs reactions Markets of the OTA Selling conditions of the OTAs Commissions of the OTAs

Airbnb booking.comSelling behavior Reservation at j-10 Reservation at j-3Market Worldwide WorldwideOTA condition Airbnb conditions Owners conditionsCommission 12% client + 3% owner 15-17% owner

Apply different rates on different OTAs

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II/ How to adjust my rates

- Beyond Pricing - Smart Host - Manage you rates

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Beyond Pricing

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Smart Host

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Example of rate setup booking.com vs your own website

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III/ Define a simple pricing strategy

- 5 importants points

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1. Setup your rates 1. High and low seasons. 2. Rates per categories (leisure, business, etc…). 3. Per room, per person, etc…

2. Setup your rate for the next 16 months.

3. Selling conditions depending on the selling points.

4. Select OTAs that respect your selling conditions.

5. Define restrictions your are willing to apply (min stay, max stay, check-in/out, etc…)

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Example of a Bed and breakfast

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Website of a bed and breakfast

- No advantages - Similar selling

conditions - Similar prices

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Next webinar: Manage your online reputation

Visit our website: www.xotelia.com

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L’équipe Xotelia