PriceLabs’ dynamic pricing algorithm helps hotels maximize revenue by automatically calculating and adjusting room rates in real-time based on various factors such as market data, internal occupancy, seasonality, day of the week, lead time, and neighborhood demand for future events and holidays. This approach allows hotels to charge higher prices during peak demand periods and offer lower prices during low-demand times, ensuring maximum occupancy and optimizing revenue potential. The algorithm is designed to be adaptable, providing hoteliers with the ability to customize their property’s pricing logic according to their needs and business goals.

Yes, you can customize the pricing strategies and settings in PriceLabs to fit your hotel’s specific needs. The platform offers simple and advanced customization options, allowing you to tailor your pricing strategy to reflect how you operate your business. Customizations include control over seasonality, demand aggressiveness, occupancy-based pricing, and far-out and last-minute pricing. Additionally, you can set your own prices using overrides, apply day-of-week pricing, create lead time discounts or premiums, and adjust event and holiday pricing. This flexibility ensures you can create a unique revenue strategy that aligns with your hotel’s objectives and market positioning.

PriceLabs integrates seamlessly with popular Property Management Systems (PMS) and channel managers, making it easy for you to connect and sync your prices across various platforms. The platform is compatible with PMSs with a strong hotel base, such as Cloudbeds, Mews, Better Hotel, and Mini Hotel. For instance, PriceLabs is one of Cloudbeds’ dynamic pricing partners. By integrating with these systems, PriceLabs enables you to manage your property’s pricing strategy and room rates efficiently, ensuring that your prices are up-to-date across all channels. This integration allows you to save time and automate pricing tasks, helping you focus on other aspects of your business. Additionally, an API for a direct link to your proprietary systems will be available soon, offering even more flexibility in connecting PriceLabs to your hotel’s management tools.

There are no additional costs or hidden fees involved in the 30-day free trial of PriceLabs. When you sign up for the free trial, you’ll have access to all the features and benefits of the platform without the need to provide your credit card information. During this trial period, you can evaluate the platform and its impact on your hotel’s revenue management strategy without any financial commitment. After the 30-day trial, if you decide to continue using PriceLabs, you will need to choose a subscription plan that suits your needs. The pricing details can be found on the PriceLabs website. It is important to note that there are no lock-in contracts, which means you can cancel your subscription at any time if you decide the platform is not the right fit for your hotel.