Alright folks, have you ever wondered if the price of that cozy room with the stunning view was plucked from thin air?

Or if there’s some magic formula behind it? Well, for all your bed and breakfast heroes out there, let’s talk about how to set your B&B pricing strategy.

You see, the price tag on that fluffy pillow isn’t just about covering the cost of your world-famous banana pancakes. Oh no, it’s a meticulous art, a dance between being the ‘go-to’ spot in town and actually turning a profit!

Your B&B pricing strategy

Now, step one: Flaunt what you’ve got! What makes your B&B the talk of the town? Is it the ghost of Sir Reginald that haunts room 13? Or maybe the fact that you’re the only place that serves unicorn-shaped waffles? That’s your Unique Value Proposition. Don’t just match the hotel down the road; they don’t have Sir Reginald!

Seasons change, and so should your prices. Think about it: If there’s a ‘World’s Largest Rubber Duck’ festival in town, cha-ching! Up those prices. But on the quieter days? Throw in a discount, or maybe a ‘last-minute deal’ for the spontaneous travellers.

Ah, the numbers game. Before you set that golden price, do a little math homework. Know your expenses inside out – from those crispy bacon strips to the lightbulbs. And remember, it’s not about breaking even; it’s about that sweet spot of profit.

Bundle it up! Why not throw in a ‘Haunted Night’ package with Sir Reginald? Or a spa day followed by your signature unicorn waffles? Give your guests a reason to splurge.

Lastly, ears open! Listen to feedback, whether it’s praise, a rant about the noisy rooster, or a wish for glow-in-the-dark pyjamas. Your guests might just drop some golden nuggets of wisdom that can lead you straight to the bank!

And hey, if all this number-crunching and strategy talk makes your head spin, we’ve got just the thing for you. Grab our free ‘Crafting the Perfect Stay – 25 Essential Insights for Bed and Breakfast Owners’ PDF. It’s hotter than your morning coffee and packed with insights. Get it now and let’s make that B&B not just a stay, but an experience! 🌟”

What is your main pricing strategy?

Let me know.

In the next episode, I’ll talk about your bed and breakfast operations.

In conclusion

In the captivating world of bed and breakfasts, your B&B pricing strategy is more than just numbers—it’s a symphony of unique offerings, timely deals, and attentive listening to our guests. Remember, every element of your B&B, from Sir Reginald’s mysterious presence to those delightful unicorn waffles, adds value.

Harness these treasures, be responsive to the ebbs and flows of demand, and be in tune with your guests’ feedback. This isn’t just about making a living; it’s about crafting unforgettable experiences. So, fellow B&B champions, while we dive into strategies to outshine the competition in our next chat, never forget that your establishment’s soul is its biggest asset. Until next time, keep those rooms full, those pancakes flipping, and those experiences unforgettable!

⇒ TO READ OR LISTEN TO THIS EPISODE ON KEYSTONE HOSPITALITY PROPERTY DEVELOPMENT:

https://keystonehpd.com/steps-to-a-profitable-bb-pricing-strategy-007

Serious about taking your business to the next level? Sign up for the “Inn-side Track-Mastering Your B&B Business” course.

https://courses.keystonehospitalitydevelopment.com/course/inn-side-track-mastering-your-bb-business/

Grab your copy of the ‘Crafting the Perfect Stay- 25 Essential Insights for Bed and Breakfast Owners’ PDF.

https://keystonehpd.com/beds-breakfasts-business-pdf/

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