Trailblazing Revenue Management
2023
Breakthrough
Release
- The breakthrough every property manager and host deserves
Hyper Local Pulse Algorithm
Introducing Hyper Local Pulse (HLP), the re-engineered version of our dynamic pricing algorithm. This cutting-edge solution leverages hyper-local data to optimize rates and increase your revenues. Unlike competitors with a broad-market-level approach, we give you today the next generation of revenue management.
More Precision
HLP leverages the power of hyper-local data and compsets to fine-tune your pricing strategy. Benefit from unmatched pricing precision and relevance to strive in an ever-more competitive environment.
Faster Response
Swift response to market changes with improved seasonality and event pricing. Our system smartly adjusts to seasons, market changes, special events and holidays.
Higher Revenues
Our research indicates that new PriceLabs users see a 26% average increase in Revenue per Available Night (RevPar) after using the HLP algorithm for three months.
Performance Metrics
Successful revenue management relies on swift action. Managing multiple listings and spotting the underperforming ones can be challenging. New Performance Metrics offer a detailed analysis for each listing. You can now tailor your listings’ view based on preferred metrics.
- Pick from 40+ monitoring metrics
- Filter and sort your portfolio
- Quickly find listings that need attention
Smart Presets for Short-Term, Mid-Term, and Multi-Unit Rentals
Navigating through PriceLabs’ 30+ customization options might seem overwhelming, particularly for beginners. That’s where Smart Presets come in. They guide you in tailoring PriceLabs to fit your specific property type, offering valuable tips for setting values. By simplifying the customization process, Smart Presets make PriceLabs more user-friendly and ensure you focus on essential settings.
1
Pick your property type: Short-term, mid-term, or multi-unit rental.
2
See the set of customization types that we recommend
3
See the values we recommend for each customization
4
Choose which customizations you want to turn on and the values you want to set
Desktop App
When editing a large portfolio, a lag or delay can disrupt your workflow and result in time lost in your busy day. Our Desktop App gives you:
- Easy Access: Download our app onto your computer. Once installed, no more opening the browser to access PriceLabs.
- Improved Efficiency: By using your computer's resources, our app provides a faster, seamless experience for managing vast portfolios.
Team Management
Tailor access, monitor changes – PriceLabs empowers you to manage your team with precision and control.
- Assign ListingsDecide which team member is in charge of which group of listings
- Access RightsAdmins decide on user rights for each team member
- Change LogsSee who did what for peace of mind and clarity within the team
Property managers trust PriceLabs
What they say about our new release.
Discover the testimonials of PriceLabs users who’ve using our Hyper Local Pulse (HLP) algorithm.
What they say about our new release
Discover the testimonials of PriceLabs users who are using our Hyper Local Pulse (HLP) algorithm
How the new PriceLabs tools get you closer to your business goals
PriceLabs is bringing cutting-edge and user-friendly improvements for hosts, property managers, and revenue managers
- Enhanced Precision and Relevance in PricingLeverage our Hyper Local Pulse algorithm and Nudges Framework for market-responsive pricing
- Efficient and Streamlined OperationsRevenue management teams save time by creating smarter workflows and assigning listings easily to team members
- Swift Access to Critical Metrics, AnywhereStay connected with the PriceLabs Desktop App and use the new Metrics Dashboard for real-time insights
- Industry Recognition and InnovationBenefit from our award-winning breakthroughs powered by our world-class data science team
- Global Solutions for Short-Term, Mid-Term, and Multi-Unit Rentals Data for every market in the world from sources such as Airbnb, Booking.com, Vrbo available in five languages
Other Product Features
Intelligence: Reduce the need for human intervention
Market-driven Last-Minute and Far-Out Customizations
These new versions dynamically adjust the default values for last-minute discounts and far-out premiums based on real-time market data. They incorporate daily changes to stay current with market dynamics and offer users the flexibility to adjust the sensitivity of these pricing factors.
Enhanced Min Stay Recommendation Engine
An engine that provides both annual minimum stay recommendations and specific suggestions for months that deviate from typical patterns.
Min Stay Flexibility
PriceLabs allows hosts to define minimum stay rules tailored to specific days, seasons, or booking lead times. With integrated Custom Seasonality, hosts can ensure optimal stays, especially during peak periods, using general, specific, or season-based methods.
Seasonality Customization
Choose from four pricing options: "Conservative" for minimal adjustments, "Recommended" for typical shifts, "Aggressive" for bold changes, and "No Seasonality" for steady year-round rates. Perfect for matching your property's demand patterns.
Hotel Weights Customization
Tailor your property's rates by balancing the influence of both short-term rental and hotel market trends. Ideal for hotel-like accommodations, this feature lets you adjust how much hotel pricing data impacts your listing prices.
Hotel Comp Sets Customization
Fine-tune your pricing by selecting specific neighboring hotels that influence your rates. Especially useful if local hotel rates impact your property more than short-term rentals.
Base and Minimum Price Nudges
Nudges are smart alerts to refine your prices. The Base Price Nudge suggests when to tweak your base price, while the Minimum Price Nudge ensures your listing stays appealing, especially in slower periods.
Analysis: Quickly evaluate performance
Comp Sets usable across PriceLabs
Benchmark your performance against your competitors using our adaptable Comp Set tool Apply this comp set within various PriceLabs features, like in Market Dashboard, Neighborhood Data, and Portfolio .
Pacing Charts
Pacing Charts visually represent listing performance against historical data, enabling users to identify market trends and adjust pricing accordingly
Booking Data Charts
Booking Charts provide a snapshot of current occupancy, allowing users to assess performance against market averages and refine strategies for optimal revenue.
Compare Competitor Calendar
Allows you to compare your listing prices with up to 10 local competitors, offering insights for a 365-day timeframe.
Hotel Data with LOS
Provides an analysis into local hotel pricing and stay-duration patterns, particularly valuable for establishments like aparthotels.
Events and Holidays Calendar
Lists upcoming events and holidays, clarifying price recommendations and facilitating strategic adjustments for high-demand dates.
Workflow: Work faster
Date-Specific Override Expiry
Set expiration dates on premium pricing. If unbooked, it auto-reverts to standard rates, optimizing last-minute reservations and staying market-competitive.
Group-Level Date Overrides
Streamline listing adjustments with Group-level date-specific overrides, ideal for distinct property clusters with unique needs.
Smart Check-In and Check-Out
Minimizes 'orphan gaps' and adapts check-in/check-out days for optimal property utilization.
More data in APIs
Now includes data on bookable vs. non-bookable listings and booking information from the Neighborhood data graphs.
More data in CSVs
The updated CSV from the Pricing Dashboard now features the last synced date and listing notes.
Access data via APIs and CSVs
PriceLabs allows quick data access via downloadable CSVs or a direct connection through our APIs.
Calendar Start Day
Choose your preferred start day for the pricing calendar.
Sub-Groups
Tackle the complexity of hundreds of listings with Sub-Groups. Adjust settings across PMSs at the Account-Level, group by criteria such as cities at the Group-Level, and fine-tune specific categories with Sub-Group controls.
Data Access: Leverage the most powerful data set
STR Index
The STR Index offers a range of reports on leading short-term rental markets globally. Users can track how these markets have progressed in terms of the number of listings, occupancy, ADR, and RevPAR. Additionally, there are pacing projections available for the coming months.
Revenue Estimator
The Revenue Estimator allows users to input a property's address to receive essential metrics estimating its revenue potential. This tool is invaluable for investors and property managers looking to gauge the potential of a new addition to their portfolio.
10,000-listing Market Dashboard
Harness insights from an expansive 10,000 listings for comprehensive market analysis, refined pricing strategies, precise comparisons, and understanding intricate trends.
Breakthrough Launch Event
Want to talk to us?
Frequently asked questions
There are no additional costs for the new product and features as they are included in the existing pricing plans. PriceLabs is committed to providing exceptional value for money and consistently enhances its algorithm and adds new features. Some new tools, like the STR Index and Revenue Estimator, are even available free of charge.
Not all the new features are currently available to every user as some are being rolled out gradually. For instance, for more details on the transition to the advanced Hyper Local Pulse algorithm, existing users can refer to this specific page. The events and calendar feature is currently in beta mode and only accessible to a limited number of users.
We have got you covered! We have six upcoming webinars focused on the launch of our Breakthrough release; you can sign up here. Our related blog article also provides more insights into each feature. Additionally, we offer daily free training sessions about our products where you can ask questions. Check out the schedule to sign up.
Indeed, we thrive on user feedback, which has led to the development of some of these features. To share your feedback, please email support@pricelabs.co. If you have a dedicated Solution Consultant, feel free to reach out to them as well.
Starting is easy and risk-free. You can begin a free 30-day trial at any time. Just create an account (no credit card required), link your listings to PriceLabs, and you’re good to go.
