Emeryville, Sept. 29, 2021 (GLOBE NEWSWIRE) -- RedAwning.com, the leading hospitality platform for short-term rentals, today announced a unique combination of dynamic daily rates with direct host control to set higher minimums or fixed rates for any range of dates. This combination has led RedAwning to industry-leading daily rates and occupancy, while maintaining host control of how their property is priced.
Dynamic rates are the future and have been especially impactful this year with soaring demand. Any host or property manager not leveraging true dynamic rates, updated at least daily, is missing out on a significant revenue and earnings opportunity. At the same time, many leading property managers and distribution solutions limit or prevent property owners from participating in their own rate decisions. That 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 enables hosts to benefit from the power of dynamic rates, without giving up complete control of their pricing approaches. RedAwning hosts participating in dynamic rates can now log into RedAwning’s portal to add any rules they like to their rates approaches, from minimum stay by date range to minimum price or fixed price by date range. These types of tools have been available to property managers, but in most cases, homeowners themselves have had no control.
RedAwning Smart Pricing optimizes pricing and occupancy with daily rates updated at least once every 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 changes to daily rates on every major channel where guests shop for travel.
“In the world of global distribution and instant booking, where hotels and short-term rentals compete for the same customer, having dynamic, market-appropriate rates is a necessity to maximize revenue. By combining RedAwning’s global marketing platform with PriceLabs revenue management system capabilities, we created the most seamless and powerful toolbox to maximize revenue for each and every home. Now we’ve taken things one step further by empowering each host with total control of their rates. Hosts have unique market insights beyond the tools and now they have the choice and control to conveniently self-manage their rental businesses while still gaining the key benefits of full-service management,” said RedAwning CEO Tim Choate.
To learn more about RedAwning’s industry-leading hospitality and reservations platform, visit www.redawning.com/list.
To browse and book the RedAwning Collection, visit www.redawning.com.
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About RedAwning
RedAwning is the short-term rental industry’s only complete marketing, distribution, reservations, and hospitality platform. RedAwning presents one of the world's largest collections of vacation properties to guests wherever they shop for 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 comprehensive layer of exclusive services and support with every stay. RedAwning is one of the largest single U.S. vacation rental suppliers to every major travel website, including Booking.com, Expedia, Vrbo, Airbnb, and Google Travel. RedAwning also operates exclusive vacation property booking 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 guests, hosts, and property managers alike, and to drive new approaches that make the booking and staying experience at short term rental properties more consistent, easier, safer, and better for all.
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