Are hot tubs more valuable to guests in colder months compared to warmer months? Are guests willing to pay more for a ski-in/ski-out short-term rental in the Summer when there is no snow on the ground? Should your 3-bedroom villa with a pool cost more than other villas if the pool won't be used in the winter?
These are important questions that center around one idea: amenity seasonality, which can have a big impact on your vacation rental pricing strategy. Luckily Beyond’s dynamic pricing pricing solution is fully equipped to maximize your pricing based on the seasonal amenities you have in your rental.
Introducing Seasonal Amenity Pricing by Beyond
Recently, we highlighted the importance of using clean data to power your revenue management strategy. In our continued efforts to ensure Beyond is the industry-leading dynamic pricing algorithm, we recently added seasonal amenity factors for our users.
This new update takes into account the individual amenities that a short-term rental property has and uses machine learning to price each day differently based on the market demand for each day and amenity. This is another step forward for property managers, hosts, owners, and revenue managers who want to elevate their pricing strategy and get ahead of the competition.
Real-Life Example: How Different Seasons Affect Amenity Pricing in Lake Tahoe, CA
Lake Tahoe is a prime example of how different seasons affect amenity pricing. Known for its skiing in the winter and its beautiful nature, hiking trails, and lake activities in the summer, Lake Tahoe experiences varying demand based on seasonal amenities.
Winter boosts demand for ski-in/ski-out properties and hot tubs, while summer shifts preference toward waterfront accommodations and outdoor activities like hiking. For rental hosts in Lake Tahoe using Beyond, adjusting prices based on seasonal amenities becomes hassle-free!
Interested in learning more about seasonal amenities in your market? Schedule a free consultation today!
