Why Dynamic Pricing is good for Owners & Guest!
For the past 16 years we have always strived for a balance in the pricing of our vacation rentals. We want the homeowners to get the best possible rates while guests feel confident in the purchase they’ve made. In the past we have relied on past performance, testing, and samples of competitive properties to set the rates.
Dynamic Pricing is a daily adjusting rental rate used towards maximizing income and occupancy based on demand. Technological advances made our access to data easier. Computers are able to adjust the daily rental rate quickly to match demand.
In Orlando we find ourselves in a hyper competitive market for accommodations. Among all the major hotel chains, timeshare resorts, and thousands of vacation rental properties; tourists have a variety to choose from.
By measuring market demand and available properties at a daily and weekly level, opposed to a seasonal or monthly, we can offer our properties to potential guests at optimum price for the time period they are searching for. This in turn increases the owners revenue and occupancy.
Guests benefit from seeing they are receiving good value for the quality of the property they are booking. Most guests appreciate honest, straightforward, pricing and transparency in the properties. This adds to a better rental experience and increased guest return and referrals.
At Florida Spirit we believe a successful vacation rental is one that guests love to stay in and owners are rewarded with happy paying guests.
Since implementing this new pricing strategy we have experienced over a 20% increase in bookings and over 12% increase in booking revenue.
To get a rental analysis on your property please email Brian at Brianb@floridaspirit.com or call at (407) 396-4441