If you're still setting a base price and hoping for the best, it's time to rethink your entire approach to pricing. On this episode of the Host Planet Podcast, sponsored by Hostfully, we’re joined by Neal Cyr, CEO and Co-Founder at Quibble, to talk all things dynamic pricing – and why the strategies many hosts rely on are not just outdated, but potentially costing them bookings and revenue.Neal explains why fixed minimum rates and base prices might be doing more harm than good, how to find your occupancy sweet spot, and what hosts can learn from the airline industry about pricing with discipline. He also shares how Quibble sets itself apart from other tools, especially when dealing with unique properties, and why tweaking your strategy regularly is key to long-term success.Three key takeaways:1. Forget the base price – Neal argues that starting with a fixed base rate can limit your revenue potential and prevent you from adapting to real-time market conditions.2. Aggressive discounting is a mistake – Many hosts over-correct when trying to fill their calendars, but smart, data-driven pricing is more effective than slashing rates.3. Discipline is everything – Just like airlines, successful STR hosts treat pricing as a performance lever, not a set-and-forget function.0:56 Why is setting a base price a waste of time?1:43 How can you find the optimal price?5:03 Comparisons to other dynamic pricing tools7:50 Is there an argument to say you shouldn’t set a minimum rate?9:23 The occupancy level sweet spot11:02 The challenge of pricing ‘unique’ rentals11:55 What to consider when pricing13:56 How Quibble is different to other tools16:25 Is this set and forget?18:14 How often should hosts be tweaking their rates?19:29 The most common pricing mistake: aggressive discounting21:06 How airlines price (and what we can learn)22:50 What we can learn from airline pricing: discipline24:34 The correct set-up is essential for dynamic pricing 26:02 Quibble success stories27:04 $10 per property, per month. Check out Quibble:27:26 AI confusion 28:43 Favourite brand: Casago29:26 Individual shout-out: Jim Barlow30:06 Biggest lesson learnedLooking for a great PMS or digital guidebook? You need Hostfully! Check out these special offers:Property Management Software: Get $500 off onboarding by using the code PLANET500.Digital Guidebooks: Get 30% off for life by using the code HOSTPLANETGB.Click here to sign up for Hostfully: https://get.hostfully.com/46p7pafubra1Keen to book a Hostfully demo? Click here to connect with Frank Bosi: https://cal.mixmax.com/frankbosi/demo?re=IiY1x2YuQXZuFGbwR3cvhGQzVWbhpmI&rn=ISelxmchZFIzVWbhpkI&messageId=UjWJnyJQ1a9zxhP2CEmail Frank:
[email protected] Planet: https://www.hostplanet.club/James Varley: https://www.linkedin.com/in/jdsvarley/Neal Cyr: https://www.linkedin.com/in/nealcyr/Quibble: https://quibblerm.com/Episode to check next: The Smart Way to Price Your Vacation Rental: https://www.youtube.com/watch?v=YsHYwAUreLsHost Planet Podcast is presented by James Varley, a holiday let investor and property manager who is also the Founder of Host Planet. Before founding Host Planet, James spent 20 years in the media, including a decade leading corporate communications for the FIFA World Cup Qatar 2022.Contact the show:
[email protected]#HostPlanet #HostPlanetPodcast #HostPlanetBitesize #ShortTermRentals #VacationRentals #HolidayLets #Airbnb #BookDirect #PropertyManagement #PropertyInvestment #BookingCom #Vrbo #Quibble #NealCyr #RevenueManagement #DynamicPricing #JamesVarley
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