Smart pricing also makes it easier for hosts by automatically updating prices. Hosts don't need to update prices manually, in order to set the most optimal price based on the current situation. However, there is a weakness in the smart pricing system, which through this system sometimes the price offered is quite unexpected, either too high or too cheap. This smart pricing system also does not take into account factors such as i. All facilities provided by the homestay owner ii.
Homestay location iii. or hotel owner That's why sometimes as consumers we can make bc data hong kong reservations at luxury hotels at very low prices. Try comparing these two situations, and which one is the better situation? i. Your homestay sets a fixed price but there are no guests. ii. Your homestay has guests but the price paid by guests is lower and variable compared to the price you set. For the first situation, it's not good because if there are no guests, then there are no sales.
No sales, then there is no profit. Meanwhile, in the second situation, even though there are guests, these guests do not pay the price we want. It is possible that with these guests, we only get very little profit, or no profit at all. Worse still, we lose. But, if we look at it from a long-term perspective, we have actually provided an experience to these guests. If the experience is good, this guest may come again to stay at your homestay.