We recently hosted a webinar to discuss why fluctuations in booking request volume may occur and how hosts can use calendar and pricing tools to meet their hosting goals. Airbnb employees Bola Akinsanya, Host Engagement Specialist, and Carla Pellicano, Product Manager for Pricing and Availability, led the discussion and answered questions from hosts who tuned in. Below are some of the highlights from the conversation.
Seasonal fluctuations are to be expected.
We’ve heard from hosts that they notice dips in booking requests at certain times of year. Travel trends will vary based on location, but it’s normal to have popular seasons and times when demand is lower.
Bola illustrated this point with an example city: Miami, Florida. During the summer, when you typically expect heavy travel, the volume of booking requests on Airbnb remains pretty flat in Miami. This is because most US cities experience pleasant summer weather, so consumers have many destination options. Instead, Miami’s busiest season is during winter when travelers enjoy escaping their own freezing cities to bask in Miami’s relative warmth and sunshine.
Identify great times to host, and plan ahead.
Many hosts benefit from special events happening in their area when they plan ahead. If there’s a festival, sporting event, or even a large business conference coming to the area, you can take advantage of the increase in guest-traffic by opening your calendar availability in advance.
There are tools in the calendar’s reservation settings to help.
During low-demand seasons, consider using different tools to increase flexibility, such as allowing same-day requests or lowering your minimum stay requirements.
To find your reservation settings, click on “Manage Listing and Calendar” below your listing title. Then click on “Settings” to the upper right of the calendar. Here you’ll see options for accepting same-day requests, blocking the calendar for “preparation time” between bookings, and limiting requests that are too far in the future.
You can customize your minimum stay requirements for weekends, certain seasons, or even specific dates. Click on the link “Add a requirement for seasons or weekends” below the minimum and maximum stay settings to make these adjustments.
There are tools to help you make more informed pricing decisions.
The price you set for your space is always your choice. Many hosts have asked for advice on how to decide on a price, so we’ve developed tools to help you make more informed decisions. Aside from the “Base Price” suggestion (found at ‘Your Listings’ > ‘Manage Listing and Calendar’ > ‘Pricing’ in left-side menu), there’s also a newly introduced feature that gives you dynamic daily pricing tips.
You can find price tips in the calendar (found at ‘Your Listings’ > ‘Manage Listing and Calendar’). The tool calculating these tips considers the likelihood of your space getting booked at different price points for each available date, based on dozens of factors such as your listing’s views and previous bookings. For brand new hosts, the model’s suggestions should improve over time as it has a chance to observe how guests interact with your listing.
For more information on calendar and pricing settings, visit the Help center.
Thanks again to everyone who tuned into the webinar! We’ll be holding webinars on different topics on a regular basis, so keep an eye out for announcements and we hope you can join us next time.