Customer type: Property Manager
Region: Europe – France
Products: Dynamic Pricing,
Number of listings: 1200+
PMS: Avantio
Hoomy, a French Property Management firm founded in 2017, aspired to lead the Second Home (Vacation homes) market in France. As part of the strategy to achieve this goal, Antoine Hervo, Yield Manager at Hoomy wanted to;
- Streamline market research
- Optimize pricing based on demand fluctuations
- Scale growth and expand their property portfolio
Background: Hoomy
Hoomy is a Property Management company founded in 2017 that manages 1200+ properties across various regions in France, including Vendée, Loire-Atlantique, Brittany, and Pyrénées. Over the last two years they have added almost 800 properties to their management portfolio. Antoine Hervo, their dedicated Yield Manager, was responsible for property pricing and management
Before PriceLabs
Hoomy faced a series of challenges in their second home management endeavors. Complex pricing strategies, intricate rule configurations, time-consuming optimization, and tool transition apprehensions all converged to create a unique set of obstacles.
Challenge 1: Complex Pricing Strategies
Hoomy grappled with a multitude of pricing strategies, making rate management a convoluted task. Different properties required different pricing approaches, which made the pricing process cumbersome and error-prone.
Challenge 2: Intricate Rule Configurations
Their previous pricing tool featured intricate and inflexible rule setups, complicating pricing adjustments. The complexity of these configurations added to the workload and resulted in pricing inefficiencies.
Challenge 3: Time-Consuming Optimization
The team faced efficiency concerns, worrying about time and revenue optimization in property management. Manual adjustments and constant monitoring took up valuable time that could have been better utilized elsewhere.
Challenge 4: Tool Transition Apprehensions
Previous experiences with similar tools had raised concerns about transitioning to a new pricing solution. The team was worried about the learning curve and potential disruptions during the transition.
The Journey with PriceLabs
PriceLabs played a pivotal role in revolutionizing Hoomy’s second home management by offering a suite of invaluable benefits. From effortless pricing to comprehensive training support that expedited the team’s proficiency, PriceLabs simplified and streamlined pricing strategies.
Benefit 1: Effortless Urban Pricing
PriceLabs streamlined pricing for properties, making it easy to manage multiple properties simultaneously. The simplified interface and robust algorithms made it possible to apply consistent pricing strategies across their multiple properties effortlessly.
Benefit 2: Invaluable Training Support
The provided training was instrumental in simplifying PriceLabs’ understanding and deployment. Antoine Hervo and the Hoomy team were able to quickly grasp the system, reducing the learning curve and allowing them to make the most of the tool’s capabilities.
Benefit 3: Rule-Based Efficiency
The ability to set and manage pricing rules significantly improved time efficiency and revenue optimization. With PriceLabs, Hoomy could implement dynamic pricing rules that adjusted to market conditions and property-specific factors, reducing manual effort.
Benefit 4: Precise Seasonal Rate Adjustments
PriceLabs’ ‘custom seasonal profile‘ feature allowed precise seasonal rate adjustments, improving property profitability and guest satisfaction. Hoomy could now tailor pricing to specific seasons, ensuring competitive rates during peak times and attractive offers during off-peak periods.
PriceLabs as a Revenue Management Solution Partner
PriceLabs allows me to manage over 500 properties with just 6 rules, revolutionizing our property management approach.
– Antoine Hervo, Revenue Manager at Hoomy
