There’s the perfect trip…and then there’s the perfect trip *that folks will actually book.* Once you’ve surveyed and know your community’s top destinations and activities, you’re in a great place to deliver the exact travel experience they’re looking for.
But, as with most things in life, actually signing up for it comes down to the cost. Even though travel is seen as more of an essential than a pure luxury these days, sticker shock is real and can stop a Traveler from saying “yes” even when everything else is exactly what they’re looking for.
At Trova, we strive to offer transparent pricing for our trips that feel good for both our Hosts and Travelers. Read on to understand what goes into the base cost of a trip, and how to use the data from your survey to price it perfectly for your community.
Key takeaways
The Operator and Trova set the base cost of the trip based on various components.
Custom requests often result in more costly trips and delayed launches. It’s best to minimize customizations to keep things smooth and on schedule.
Trust your audience data and try to stay at, or slightly below, their median budget when pricing your trip.
If your audience demographic’s median age is between 18 and early 20s, seek out itineraries significantly lower than the stated budget.
Incentivize Travelers to book ASAP so they can take advantage of an early bird discount. They save $$$ and you get closer to confirming your trip. It's a win-win! #earlybirdgetstheworm
When setting your margin consider your experience as a Host, audience enthusiasm (gauged via total survey responses), and if you’ll be teaching any courses or workshops. Sharing your expertise can be a huge value-add for Travelers!
Trova makes payment easy for Travelers with only 25% due at the time of booking or pay-over-time options of 6, 12, or 18 months through Affirm.*
Understanding the base cost of a trip
Initial planning stage
When a Host submits a trip request, they select details curated by our Trip Design experts. These include destinations, activities, accommodations, and any special requests. Our Operating partners and Trova's team review the request and will provide pricing for the trip based on the elements of the request.
Cost components
Accommodations: The cost of lodging is a significant factor in trip pricing. We work with specific suppliers that can accommodate groups, competitive rates, no deposits, etc. Trova selects accommodations that align with the trip's theme, preferences, and budget.
Activities: Costs for activities, excursions, guided tours, workshops, and other experiences are factored into the overall trip price.
Meals: Depending on the trip package, meals may be included in the price. Trova considers dietary preferences and any special meal requests when estimating costs.
Transportation: Expenses for transportation, including domestic flights included as part of the trip, transfers, and local transportation during the trip, are calculated.
Additional Services: Any additional services requested by the Host or Travelers, such as special event arrangements or private guides, are priced accordingly.
Group Size and Customization: The size of the group affects trip pricing. Larger groups may benefit from economies of scale, while smaller groups may incur slightly higher costs per traveler. Trova offers limited customization options to tailor the trip to the Host's preferences and the group's needs. It is important to note that customizations typically result in an increase to the trip price and delay in receiving back an approved trip request, due to the time needed to coordinate the request(s).
Host Earnings: This is a markup at the Host's discretion for their trip. Hosts are strongly encouraged to price the trip within their community’s budget (as indicated from their survey) to maximize their earnings while keeping the trip affordable for Travelers. Additionally, some Hosts offer gift bags, informal workshops or other value-adds that they bake into the trip price.
TrovaTrip Earnings: While most of the money per trip goes straight into operational costs via the Operator, and to Host payouts, a small percentage of a platform fee goes to Trova. You can find full details on how the money moves here.
Trova & Operator pricing approval
Once a trip request has been submitted, it is reviewed by the Operator. They contact their suppliers, confirm availability, and provide pricing to reflect what was submitted in the trip request.
If the Operator is able to organize the trip but their suppliers, such as hotels, are unavailable, they will inform the Trova team that they cannot fulfill the request. In such cases, they may suggest alternative dates provided by the hotel. If this situation arises, Trova will request the Host to resubmit the request, and then proceed as normal with alternate dates.
After the Operator sets the pricing, Trova's internal teams review it for approval before sending it back to the Host for final decisions on Host margins as well as signing the Host Terms & Conditions.
Some factors may result in a denied trip request from either the Operator or Trova:
Unapproved additional requests, customizations, etc. These are reviewed on a case-by-case basis and may not always be able to be accommodated.
Lack of hotel availability. Depending on peak seasons, there may not be enough capacity to accommodate a trip during the requested time.
Instant Approval itineraries skip this process and go straight to the Host! These itineraries are unable to be customized, and selectable dates are pre-approved.
Cost per Traveler (CPT)
Trova calculates the Cost per Traveler (CPT) by dividing the total estimated trip cost by the number of Travelers. This provides the Host with a clear understanding of the individual cost of participating in the trip for their Travelers.
How to price your trip
Do it by the numbers
Sometimes in life you have to go with your gut. This is not one of those times. When it comes to setting a trip price, it’s best to let your survey data be the guide. Your community has told you what they’re willing to spend so trust them. There’s no need to galaxy brain it and bump the cost too high or too low…it’s best to price your trip at or slightly below your audience’s median budget.
💡 Trova Tip: If the median age of your respondents is between 18 and early 20s, chances are they’re overstating (or overestimating) what they’re willing to pay. We recommend looking at less costly itineraries to help balance this out. For example, if their median budget is $2,500 then it’s a good idea to look in the $2,000 range instead.
You might also worry that making price the deciding factor means ignoring your audience in other important areas, but there’s actually a lot of leeway when it comes to things like choosing a destination. If your audience’s top choice is out of budget, save it for later and look at other options that were runners-up in the ‘Popular Destinations’ section of your survey data. Trova’s itinerary library has over 100 options so you’re sure to find something that fits both their travel dreams and financial reality.
Set your margin
You’ve checked the data and picked an itinerary, now it’s time to decide how much you’ll earn. Figuring that out can sound overwhelming at first but, not to worry, Trova’s Earnings Calculator is here to help. Using the calculator in the portal, you can take the guesswork out of the process and arrive at a final number that makes sense for both you and your Travelers. Some things you may want to consider when setting the price are:
Your experience as a Host – If it’s your very 1st trip, you may want to consider starting out with a more modest margin. Then, as you build this part of your brand, increase the margin for future trips.
Audience enthusiasm – There’s a direct correlation between survey responses and confirmation rate. For example, if you received 300+ responses you’d be over 12x as likely to confirm than if you received only 100-149.
Leading workshops – Workshops, courses, or events that you offer to Travelers in addition to the set activities create value. Whether you’re leading a blogging workshop or a yoga flow, sharing your expertise and catering to your community’s interests can be worthy of a greater cost.
Under the Pricing tab, you’ll be able to play with different margins to see how they break down at various group sizes. This is also where you’ll be able to figure out the final piece of the budget, the savings cherry on top if you will, early bird pricing. In a nutshell, this is a way to incentivize the number of sign-ups needed to confirm a trip by offering them a discount. For example, if your trip requires 8 bookings to confirm, offer the first 8 to book $100 off!
Using the Earnings Calculator in the portal, you can plug in different early bird price points and see how they’ll affect your earnings as you calculate the cost of a trip.
Let’s talk money
Even with the survey data and trip cost planner guiding you to a fair price, discussing money can still be a stumbling block for Hosts. After all, it’s a lot more fun and authentic to talk to your community about making connections or seeing sights. Fortunately, with Trova, there are still ways to make the conversation around payments a lot less scary even once the budget has been set.
For starters, you can remind the community – whether answering questions in DMs or as part of a larger promotion push – that only 25% of the total cost is needed at booking. The rest isn’t due until 90 days before the trip starts. And if folks need an even larger payment window, Trova offers a pay-over-time option through Affirm* which is a travel rarity.
The details are here but essentially this gives Travelers the chance to spread cost over 6, 12, or 18 months. For example: A $2,000 trip might cost $180.68/mo over 12 months at 15% APR. With this option, down payment may or may not be required.
The price is right
At the end of the day, no matter how much travel means to them, people usually think with their wallets. A trip that’s priced too high seems out of reach, but a trip priced at or just below your community's median budget tends to be the sweet spot for success.
There’s no need to second guess yourself or feel funny when asking folks to pay for a spot on the trip—you’re putting in the work to plan, promote, be there in person, and maybe even teach them some new skills via workshops! You’ve totally earned this, and as long as you use your audience’s budget as your North Star, you’ll be able to price your trip so it gets you the income you deserve, and keep it within reason for your community.
*Affirm’s Universal Disclosure: Your rate will be 10–30% APR based on credit, and is subject to an eligibility check. Payment options through Affirm are provided by these lending partners: affirm.com/lenders. Options depend on your purchase amount, and a down payment may be required.