To all of our friends and partners in Greece and Croatia, “Χαίρετε” and “Zdravo”!
It would be an understatement to say this year has been a challenge with all the surprises that Covid has brought to our short term stays industry. In order to minimise any more upsets to revenue performance as well as increase predictability, we wanted to make everyone aware that Airbnb is changing how they assess fees on listings in Greece and Croatia.
Starting on 1st of September, 2020 Airbnb will not charge the guest a service fee but will move the cost to the host, deducting 15% from the host payout instead (more on how Airbnb Service fees work here).
This change could have a significant impact on the revenue hosts will receive, so we highly recommend reviewing your rates in Beyond Pricing with the new fee structure. In this case we would typically recommend increasing your base price by the percent of the fee that the guest was paying previously.
As an example, if before 1st of September the guest was paying 12% and the host was paying 3%, then we would suggest raising your base price 12% to account for the decrease in guest fees on the total cost.
Additionally, should this change in fee structure alter overall demand for short term stays, Beyond Pricing's algorithm will automatically respond to the change in market demand and will correct prices accordingly. This means that you just need to review your base price, and we will take care of the rest!
If you're looking for more insight on revenue management strategy as the effects of Covid linger, please refer to our Coronavirus Tips.
And finally, if you have any questions on how to change your base price, please refer to this page. If your question is not answered in this article, then please don't hesitate to reach out to us by replying to this email.
The Beyond Pricing Team