The single pricing move that added $400/month to several of our Reno STRs.
This isn't a tool recommendation. It's a mindset shift that most STR owners resist until they see the
data.
We stopped anchoring on nightly rate and started anchoring on RevPAR vs. the comp set. The
difference sounds small but it completely changes how you make pricing decisions.
When you anchor on nightly rate, you round down to fill nights. When you anchor on RevPAR relative
to your market, you learn when to hold price on a Tuesday and when a $20 drop buys you a booking
that would have gone dark.
In Reno specifically, we found that Thursday–Saturday commands a 40–60% premium over
Sunday–Wednesday in our zip codes, and most operators weren't capturing it because their dynamic
pricing tools had the weekend multiplier set too conservatively.
The fix: Pull your own booking data by day of week for the last 90 days. Find your highest-converting
days. Raise the floor on those days by $15–25. Watch what happens over 30 days. That's it.
Anyone else running market-specific pricing strategies by day of week?
Would love to compare notes.
- Nicolas Morales
Most Popular Reply
We use a pricing AI agent that we trained on dynamic pricing algorithms. It's similar to yours, but for the South Florida market, we added an "advanced booking" dimension, i.e., a 60- 80% premium for bookings 180+ days in advance (for guests who want to secure a property earlier no matter the price), at comps for 180-30 days, and daily aggressive discounts for 30 days and less.