How to Set the Perfect Price for Your Airbnb in Saint-Hyacinthe | Hosting Secrets
Average Nightly Rate For Airbnb's in Saint-Hyacinthe by Season:
Here are the typical nightly rates for Airbnb listings in Saint-Hyacinthe across different seasons. Obvisouly, the price may vary hugely depending on the amenities offered and the property style as well location plays a key role.
| Property Type | Room Count | Season | Nightly Rate (CAD) |
|---|---|---|---|
| Private Rooms | 1 Room | Summer | $50 - $80 |
| 1 Room | Winter | $40 - $70 | |
| Flats | 1-2 Bedrooms | Summer | $90 - $120 |
| House | 2-3 Bedrooms | Winter | $120 - $150 |
| Villa | 3-4 Bedrooms | Summer | $200 - $250 |
Occupancy Rate Trends in Saint-Hyacinthe:
Understand the occupancy patterns in Saint-Hyacinthe throughout the year. Recognizing peak and low-demand periods can guide your pricing adjustments.
| Month | Occupancy Rate | Trend |
|---|---|---|
| January | 50% | Low-demand period, steady occupancy due to winter activities |
| February | 60% | Valentine's Day increases demand, slight uptick in occupancy |
| March | 65% | Spring break leads to higher occupancy rates |
| April | 70% | Graduation ceremonies, moderate demand, and occupancy |
| May | 75% | Memorial Day weekend boosts occupancy rates |
| June | 80% | Summer vacations begin, peak in occupancy rates |
| July | 85% | High-demand period, popular events and festivals |
| August | 85% | Continuation of peak season, high occupancy rates |
| September | 80% | Back-to-school period, occupancy starts to decline |
| October | 70% | Thanksgiving weekend boosts occupancy rates |
| November | 65% | Pre-holiday season, moderate demand and occupancy |
| December | 70% | Christmas and New Year festivities, moderate to high demand |
Local Events that Impact Airbnb Prices in Saint-Hyacinthe:
These are the key events in Saint-Hyacinthe that affect Airbnb pricing and demand. Aligning your rates with these events can maximize occupancy and revenue.
Major Events in Saint-Hyacinthe, Canada and Their Impact on Airbnb Pricing
| Event | Timing | Influence on Demand |
|---|---|---|
| International Balloon Festival of Saint-Jean-sur-Richelieu | August | The festival attracts tourists from around the world, leading to increased demand for accommodations in the nearby areas like Saint-Hyacinthe. Airbnb hosts can expect higher booking rates and prices during this period. |
| Saint-Hyacinthe Agricultural Fair | July | As one of the largest agricultural fairs in the region, this event brings in visitors interested in agriculture, livestock, and entertainment. Airbnb properties in Saint-Hyacinthe are in high demand during the fair, resulting in elevated prices. |
| Christmas in the Park | December | This festive event attracts families and holiday enthusiasts to Saint-Hyacinthe for various winter activities and celebrations. Airbnb hosts can capitalize on the increased demand for cozy accommodations during the holiday season. |
| Saint-Hyacinthe Kite Festival | May | The kite festival is a vibrant and colorful event that draws attendees looking to experience a unique outdoor spectacle. Airbnb listings in Saint-Hyacinthe may see a surge in bookings as visitors seek convenient lodging options during the festival. |
So, How to Price it Right?
As an experienced Airbnb host, I’ve learned there are three primary methods for setting prices, each with its own advantages and challenges. Here’s a practical breakdown to help you make an informed decision and maximize your rental income.
1. Manual Pricing
With manual pricing, you select a rate for each day, week, or month on your calendar. Watch this video on how to update prices on your calendar manually.
| Pros | Cons |
|---|---|
| Full control: Over pricing for specific dates, allowing flexibility for weekends, holidays, or peak season adjustments. | Time-consuming: Frequent updates are needed, especially during high-demand periods. |
| Risk of leaving money on the table: Missing out on peak earnings during busy times or failing to lower prices during slower periods. | |
| Limited market insight: Without real-time data, you risk underpricing for high-demand days or overpricing during slow seasons. |
Example: Setting a flat rate of $100 per night may seem easy, but it could lead to missed opportunities. A busy weekend might warrant $150, while a slower weekday could require $90 to attract bookings.
2. Airbnb Smart Pricing
Airbnb’s Smart Pricing feature automatically adjusts rates based on local demand. Learn how to enable Smart Pricing on Airbnb.
| Pros | Cons |
|---|---|
| Easy setup: No need for third-party tools. | Priced too low: Airbnb often favors higher occupancy, leading to lower prices and, consequently, lower revenue. |
| Automatic adjustments: Adapts to area demand, so you don’t need to constantly update prices. | Reduced control: You can set minimum and maximum prices, but the algorithm’s primary focus is occupancy over earnings. |
Example: Airbnb might suggest $65 for a property that typically rents for $120. This may fill up your calendar but at the expense of significant income.
3. Dynamic Pricing Tools (Best Option)
Third-party dynamic pricing tools, like Beyond Pricing, use advanced data to set daily rates based on market conditions, similar to hotels and airlines.
| Pros | Cons |
|---|---|
| Data-driven algorithms: Factors like local events, competitor pricing, and seasonality ensure you’re optimizing rates. | Cost: Typically a small commission or monthly fee (e.g., 1% of bookings or $10 monthly). |
| Revenue maximization: Capture peak rates during busy times while staying competitive in slower periods. | Learning curve: Getting comfortable with the tool’s settings and reports takes a little time. |
| Automated and customizable: Set your base price, minimums, and even specific discounts. Prices update daily. |
Beyond Pricing offers features like orphan gap filling and last-minute discounts to avoid leaving money on the table. If you’re earning over $2,500 monthly, their flat $10 monthly fee is generally more cost-effective than a percentage commission.
Special Offer: Beyond Pricing offers a 1-month free trial. Follow this link to sign up and give it a try to see how it can optimize your earnings.
Practical Pricing Tips
Regardless of the method you choose, here are some practical steps for setting an effective baseline:
- Check the local market: Look up similar properties to get a sense of the going rate. If similar listings are priced at $100 per night, start slightly higher.
- Start high, adjust down: Try setting a rate of $120, then reduce it by $5 every three days until bookings pick up. This strategy helps you find the ideal rate where bookings are consistent.
- Focus on the nightly rate: Ignore service fees and commissions when comparing, as Airbnb automatically adds these to the listing price.
Why Pricing it Right Matters
Pricing is not just about covering your costs; it’s a key factor in your property’s visibility and booking rate. Lower prices can lead to more bookings, but balancing occupancy and rate is essential for maximizing revenue.
With a dynamic pricing tool like Beyond Pricing, you get automated, data-backed rate adjustments that help you capture the highest possible earnings while keeping your calendar full. I highly recommend Beyond Pricing as a reliable, market-savvy tool that adjusts rates in real time based on demand.
