Do you have Smart pricing turned on in your Travelnest account?

Why turn Smart pricing on?

Time - and accurate pricing - is money. For holiday rental owners, staying on top of market trends, local demand, and pricing fluctuations can feel like a full-time job. You may find the idea of manually adjusting rates daunting, or perhaps you've even unknowingly left your property undervalued. Enter Smart pricing; a Travelnest tool that could increase your revenue by up to 60%.

How does it achieve this? Smart pricing automatically adjusts your rates based on hyperlocal insights drawn from over 540 markets across six continents. It analyses demand patterns, seasonality, and regional trends to ensure your prices remain competitive, without you lifting a finger. Whether there's an upcoming local event boosting demand or an unexpected dip during the off-season, Smart pricing ensures you're always one step ahead. 

Here's why thousands of hosts are already turning "on" Smart pricing:

• Save time: Spend less time monitoring rates and more time growing your business.

• Maximise revenue: Capture high-value bookings by adapting to market trends in real-time.

• Stay competitive: Keep your property rates aligned with current demand effortlessly.

Perhaps the biggest appeal of Smart pricing is how seamlessly it integrates into your hosting strategy. "Smart pricing has revolutionised our business," says Yvonne from Vry Global Property Relocation. "We have seen a significant increase in occupancy. At the touch of a button, everything is done for you!"

How to make it work for your vacation rental

Smart pricing is powerful when left to do its magic, but setting it up effectively takes just a few quick steps. Here's what you need to get started:

1. Provide essential pricing info

For Smart pricing to operate at its best, you'll need to define:

• Twelve months minimum set pricing: This enables the tool to establish a baseline for adjustments.

• Minimum and maximum nightly rates: Set boundaries to prevent prices from dipping too low or exceeding realistic limits.

2. Fine-tune with market research (optional)

If you're comfortable going the extra mile, a little manual research can amplify your results:

• Compare local rates: Benchmark against similar properties in your area to set competitive minimum and maximum rates.

• Monitor local events: If you're aware of significant events (like festivals or conferences) that affect demand, consider adjusting your rates manually during those periods.

3. Use the override feature when necessary

While Smart pricing is incredibly efficient, you retain full control. Take advantage of the override tool, which allows you to fine-tune nightly prices for specific dates. For example, if you've received enquiries for a select time frame, you can set bespoke rates to secure higher profits during peak interest.

4. Future-proof your property pricing

With Smart Pricing, you're always prepared for advance bookings. The tool ensures you have nightly rates set for the next 12 months, allowing you to capture early bird reservations and maximise your earning potential.

5. Quick and easy setup

Getting started is simple and only takes 60 seconds. Smart pricing uses your property details, such as location, capacity, number of bedrooms, and available amenities to establish intelligent rates instantly.

With all these elements in place, Smart pricing transforms from a helpful tool to a profit-maximising powerhouse.

The key features that set Smart pricing apart

Smart pricing doesn't just optimise your revenue; it also offers unmatched flexibility and peace of mind. Here are the standout features hosts love:

• Overrides: Gain full control when needed by customising rates for specific dates.

• Future-proof pricing: Keep your rates ahead of the curve with automatic updates for the next year.

• Quick setup: Activate in under a minute and start benefiting immediately.

• Minimum nightly rates: Safeguard your earnings by never going below your preferred price floor.

Take your holiday rental revenue to the next level

Smart Pricing is more than a tool; it's your secret weapon for staying competitive in a fast-paced market. By leveraging hyperlocal insights and saving countless hours of manual input, this feature ensures you’re not just keeping up with trends but thriving.

Don’t miss out on bookings or leave money on the table. Enable Smart pricing in your Travelnest account today and watch your revenue soar.