Guest satisfaction is one of the most effective ways you can attract guests and gain loyal clients. More than half of Tripadvisor users will NOT book a property that doesn’t have any reviews.
79% of travelers read at least 6 to 12 reviews before deciding where they’re going to stay.83% of Tripadvisor users will “usually” or “always” reference reviews before deciding to book a hotel.96% of Tripadvisor users consider reading reviews important when planning trips and booking hotels.TripAdvisor once studied how reviews affect guests’ booking behavior and this is what they found: If you have negative reviews or low ratings, you’ll struggle to attract guests or keep those you’ve already had. Travelers looking for places to stay will always prioritize listings with positive feedback. That way, you can capture as many bookings as possible, without letting you sell out too early. It changes your rate every 24 hours so you can offer last-minute discounts at competitive prices.
It’s based on real-time data so you don’t have to do rough estimates or spend countless hours analyzing market trends yourself. It’ll also factor in your amenities, the number and quality of your reviews, and the historical performance of your listing.
It takes into account your competitors’ prices and occupancy, supply and demand in your area, day of the week, number of days left to book, and even travel patterns in the next 6 to 12 months. If your competitors are getting a bigger slice of the pie than you are, chances are they’re using a dynamic pricing tool and you’re not.ĭynamic or “smart” pricing is an automated tool that lets you adjust your rates quickly according to changes in local demand. And if you underprice, you’ll get fewer profits. Rates per night should take into account the demand in your market, the seasonality, and additionally, your competition.įind out how much others are charging, and be competitive.
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