RedAwning Price Optimization
More Reservations. Less Work.
Knowing your high and low seasons, the competition and average daily rates in your market is just the tip of the iceberg when it comes to setting (and adjusting) vacation rental rates that will maximize your revenue per booking.
There are countless factors influencing vacation rental pricing, many of which can change daily. This makes it incredibly difficult for an individual owner alone to gather all the data necessary to create (and keep updated) the most effective rate strategy guaranteed to maximize booking potential and revenue.
That is why RedAwning now provides a dynamic pricing strategy designed to get you the most bookings at the best possible price.
We optimize your property listings to ensure your pricing is competitive and results in the highest financial returns possible within a global marketplace.
We combine our internal data, real-time competitive-set data and human intelligence to optimize rates for all owners on our platform.
Beginning with a full comprehension of the local market and booking demand we create a base rate or “Rack Rate” as the hotel world likes to call it. Pricing models tend to work best when fluctuating a price around the base rate as an anchor instead of predicting each daily rate. Base rates should be recalculated once per month and then adjusted seasonally.
Our system accounts for city-wide rate calculation, nearby neighbors, and a specific comp set related to your property. When we calculate the daily rate on all three variables, we can provide a well-rounded view of your locations, right down to the specific properties in your inventory.