How to Plan Pricing for Festivals & Local Events
Learn how to plan your rates around festivals, holidays and local events that can increase demand for accommodation. Events can create short periods of significantly higher demand. Your normal weekday or weekend rate may not be appropriate during these periods.
Before the Event
Identify:
- Event dates.
- Expected visitor demand.
- Location and distance from your property.
- Historical demand if available.
- Competitor rates.
- Current occupancy.
- Remaining availability.
How to Adjust Your Pricing
Start reviewing rates well before the event. If demand is increasing, gradually increase prices for the relevant dates.
You can also review minimum-stay requirements if guests are expected to stay for multiple nights.
Example
If a popular festival is expected to bring visitors to your destination, you may price the festival weekend separately from normal weekends.
Tip
Do not increase prices only because an event exists. Consider the event's actual impact on your location and monitor booking behaviour before making large changes.