Apply custom rate strategies to your listings and Guesty will automatically adjust your prices and minimum night rules accordingly, helping you maximize both occupancy and revenue.
Draw guests to your rentals with enticing, completely customizable discounts, promotions and coupons that redeem attractive offers defined by your specific terms.
Add channel-specific markups to your nightly rates to compensate for the fee charged by the booking channel so you don’t lose any of your profit.
How is Guesty’s Yield Management system different from a dynamic pricing tool?
Guesty’s yield management system is a means of automatically applying predefined rate strategies, as set by the property manager. Dynamic pricing tools like those in our Marketplace make price adjustments based on real-time data on supply and demand within the property manager’s local market.
To maximize revenue and occupancy, we recommend using Guesty’s yield management tool to implement logical strategies, while also integrating a data-based dynamic pricing platform with your Guesty dashboard, to ensure your rates reflect changes in the market.
Can Guesty’s Yield Management tool be used along with an external dynamic pricing tool?
It is not recommended to use Guesty’s Yield Management tool with another pricing tool. Users should determine whether a market data-based or custom rule-based solution is better for their specific needs. A property management company that’s in a niche area and has been there for years might have greater insight and knowledge than a third-party dynamic pricing tool would, whereas a new business that hasn’t yet gotten their bearings or is in a new area might opt to go the market-data or dynamic pricing route.
What are some examples of effective revenue management strategies?
Some proven yield management pricing and availability strategies include:
- Setting higher prices for holidays and events that draw in more travelers
- Decreasing minimum night rules for upcoming vacancies that are shorter than your usual minimum night requirements (ie allowing shorter stays rather than losing out on profit)
- Lowering prices for dates with lower demand