In the short-term rental world, timing can make or break your bottom line. Whether it’s a music festival, a sports championship, or even a blockbuster TV series set in your city, the right event can send demand soaring — but only for operators who know how to anticipate the surge and price accordingly.
Just look at Taylor Swift’s U.S. tour. In 2023, it drove a staggering 250,000 Airbnb guest check-ins and generated $77 million in economic impact through Airbnb alone. And that’s just one artist, on one tour.
The opportunity is there — but most property managers aren’t fully set up to capture it.
The event effect: Why knowing the calendar isn’t enough
It’s easy to assume the biggest opportunities come from major holidays or peak travel seasons. But the real, often overlooked, revenue drivers are events — especially local ones.
Here’s what Guesty’s research shows:
- Major music festivals: Listings near the Leeds Music Festival saw a 17.7% boost in nightly rates, while Ultra Music Festival in Miami drove increases of over 110%.
- Conventions and expos: IAAPA in Orlando lifted prices by 31% on average, with peaks around 47%.
- Sporting events: The Indianapolis 500 pushed rates up by 45%, while the Formula 1 Australian Grand Prix saw prices nearly triple.
- Niche events: Even smaller gatherings, like the Florida Surf Festival, showed a 7-8% lift.
No matter the size, events reshape demand — and the most successful property managers are the ones who prepare for it, rather than react after the fact.
Why tech alone can’t win the pricing game
Dynamic pricing tools can help adjust rates based on demand signals, but software alone can’t tell the whole story. Success isn’t just about changing numbers on a calendar; it’s about understanding the bigger picture: seasonality, booking windows, local competition, listing quality, and guest behavior.
This is where a human strategy layer makes the difference. Professional revenue managers don’t just “set and forget” — they fine-tune pricing based on both data and experience, adapting to local conditions and helping operators avoid costly mistakes like underpricing high-demand weekends or chasing short-term gains at the expense of long-term revenue.
Five expert-backed pricing tips to help you stay competitive
- Don’t just discount — promote with purpose. Lowering your base rate might fill your calendar, but it can also undercut your property’s perceived value. Smart, data-driven promotions (like seasonal offers or length-of-stay discounts) drive bookings while protecting your brand.
- Know how you stack up against the competition. Tracking your ADR and occupancy against local competitors helps you spot both opportunities and red flags — and lets you walk into owner meetings with hard numbers, not guesswork.
- Prioritize long-term revenue, not one-off wins. Chasing the highest rate for every single night can backfire. Smart operators zoom out, using off-season minimum price strategies and occupancy-driven goals to boost overall revenue over time.
- Optimize more than just your prices. OTA ranking isn’t just about price. Listing photos, titles, reviews, and even the order of images all impact visibility and conversions. Pricing strategy is only part of a bigger picture.
- The real difference isn’t just AI — it’s expert input. The best pricing results happen when tech and human expertise work together. A smart tool can automate rate changes, but a smart strategy turns those rate changes into reliable revenue growth.
Turning strategy into results
Mastering dynamic pricing is part art, part science — and the best outcomes come from combining both.
That’s where Guesty PriceOptimizer (GPO) sets itself apart. A powerful dynamic pricing engine, it is backed by expert revenue strategists who work with you one-on-one to maximize your results. Every GPO user gets access to up to 40 hours of personalized revenue management consulting — something no third-party tool even comes close to offering.
If you’re not leveraging expert advice as part of your revenue strategy, you’re likely leaving money on the table.
Want to see how far your pricing strategy could go with the right combination of technology and expert support? Reach out to your Guesty rep to book your consultation and start unlocking more value.