RedAwning Announces Industry-Leading Dynamic Rates with Host Control Integrated with its Complete Marketing, Distribution and Booking Platform
Other full-service approaches remove tariff control from hosts or limit access to the power of dynamic tariffs
Emeryville, September 29, 2021 (GLOBE NEWSWIRE) – RedAwning.com, the leading hotel platform for short-term rentals, today announced a unique combination of dynamic daily rates with direct host control to set higher minimum rates or fixed rates for any range of dates. This combination has led RedAwning to some of the best per day rates and occupancy rates in the industry, while maintaining host control over the price of their property.
Dynamic rates are the future and have had a particularly big impact this year with soaring demand. Any host or property manager who does not operate true dynamic rates, updated at least daily, is missing out on a significant revenue and earning opportunity. At the same time, many leading property managers and distribution solutions limit or prevent owners from participating in their own pricing decisions. This can lead to higher occupancy at lower rates, instead of higher occupancy at higher rates, which is RedAwning’s model.
Today, RedAwning is announcing a best of both worlds solution that allows web hosts to benefit from the power of dynamic pricing, without giving up full control over their pricing approaches. RedAwning hosts participating in dynamic rates can now log into the RedAwning portal to add any rules they want to their pricing approaches, from minimum stay by date range to minimum price or fixed price by date range. These types of tools were available to property managers, but in most cases the owners themselves had no control.
RedAwning Smart Pricing optimizes pricing and occupancy with daily rates updated at least once a day, based on market data and property-specific data including seasonality, day of the week, special events, market occupancy, property occupancy and market demand. The tool’s algorithm also includes hotel availability, occupancy, and pricing for markets with higher proportions of hotel inventory. RedAwning instantly processes and presents daily fare changes across all major channels where customers purchase travel.
“In the world of global distribution and instant booking, where hotels and short-term rentals compete for the same customer, having dynamic and market-responsive rates is a necessity to maximize revenue. By combining RedAwning’s global marketing platform with the capabilities of PriceLabs’ income management system, we have created the most transparent and powerful toolkit for maximizing income for every household. Now, we’ve taken it a step further by giving each host full control over their rates. Hosts have unique market insights beyond tools and now have the choice and control to easily manage their rental business on their own while enjoying the key benefits of full service management, ”said Tim Choate, CEO of RedAwning.
To learn more about RedAwning’s industry-leading hospitality and booking platform, visit www.redawning.com/list.
To browse and reserve the RedAwning collection, visit www.redawning.com.
RedAwning is the only comprehensive marketing, distribution, reservation and hospitality platform for the short-term rental industry. RedAwning brings one of the world’s largest collections of vacation properties to customers wherever they shop to travel. With over 20,000 properties represented on behalf of thousands of independent and professional hosts, RedAwning covers virtually every leisure destination in North America and includes a full suite of exclusive services and assistance with every stay. RedAwning is one of the largest providers of vacation rentals in the United States for all major travel websites, including Booking.com, Expedia, Vrbo, Airbnb, and Google Travel. RedAwning also operates exclusive vacation property reservation websites, including RedAwning.com for travelers, and RedAwning TravelPro, which enables 20,000 travel agents to book vacation properties.
RedAwning has been a leading innovator in the vacation rental industry since 2010, with a mission to redefine the customer journey for the benefit of clients, hosts and property managers, and to drive new approaches that make the experience of booking and short-term rental properties more consistent, easier, safer and better for all.
CONTACT: Johnathan Robinson RedAwning.com Inc. 9253029593 [email protected]