Why your prices are not working

Why your prices are not working

As a manager of bnbs, I spend a lot of time looking at rental prices. Once you have a great place for your guests to rent, your prices are one of the main variables that decide whether or not it stays booked. Pricing is much like fishing, and there a several questions you need to know the answer to before you put a line in the water. Who is my ideal guest? What is important to them? How is a weekend guest different from a weekday guest? What's my price floor? This last question is very important because there's a point at which you begin attracting guests who may end up costing you more than it's worth to book them.

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