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 for vacation rental property owners designed to get you the most bookings at the best possible price.
Our dynamic pricing allows you to 'set it and forget it' and let our pricing engine automatically adjust your daily rates based on historical trends and current demand data. And our fee structure is set with dynamic pricing in mind, ensuring you make the most amount of revenue possible with your vacation rental.
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 for your property. Once the base rate is established, our technology works to increase the rate based on trend data and other factors, such as available inventory and demand.
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 the entire location, right down to your property.