Thanks For Visiting 512. Hosting Hotline: Are You Charging Enough? Pricing Strategies Every Host Should Know
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Nov 4, 2025 This week, Colleen Prochaska, COO and revenue management expert, dives into pricing strategies for short-term rentals. She clarifies why five-star reviews don't guarantee profitability and emphasizes the need for data-driven adjustments. Colleen highlights the role of dynamic pricing tools like PriceLabs and advises hosts to continually refine their rates based on real-time market data. Discover how to confidently charge what your property is truly worth and avoid leaving money on the table!
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Revenue Trumps Review Counts
- Five-star reviews don’t pay the bills; revenue is the primary success metric.
- Colleen Prochaska emphasizes measuring performance by revenue, not only guest ratings.
Benchmark Against Market And Last Year
- Compare your current revenue to last year and to all short-term rentals in your market.
- Use market benchmarking to know if your pricing and occupancy are actually strong.
Treat Pricing Tools As Data, Not Decisions
- Use PriceLabs (or similar) to collect rapid market data but act on it yourself.
- Treat dynamic pricing tools as data providers, not automatic decision-makers.