%20--%3e%3cg%3e%3cg%20id='Logotype'%3e%3cg%3e%3cpath%20fill='%23141313'%20d='M46.37,250.9L136.63,28.98H0v237.25C0,296.87,21.93,318.83,52.56,318.83v-.03h160.64v-154.45l-156.9,95.23c-5.8,3.71-12.82-2.05-9.94-8.68Z'/%3e%3cpath%20fill='%23141313'%20d='M347.35,104.3c-68.33,0-115.93,44.71-115.93,108.91s47.6,108.9,115.93,108.9,115.93-44.72,115.93-108.9-47.6-108.91-115.93-108.91ZM347.35,255.04c-24.41,0-42.23-17.39-42.23-41.8s17.79-41.83,42.23-41.83,42.23,17.39,42.23,41.83-17.79,41.8-42.23,41.8Z'/%3e%3cpath%20fill='%23141313'%20d='M633.86,118.01c0,3.31-3.71,3.31-7.02,1.66-18.22-9.54-32.29-15.3-53-15.3-56.71,0-95.62,42.66-95.62,108.08s39.32,109.7,93.14,109.7v-.03c21.93,0,35.61-7.02,56.31-19.87,3.71-2.48,8.28-1.66,6.19,3.71l-5.36,12.85h86.51V28.98h-81.15v89.03ZM594.11,255.04c-24.41,0-42.23-17.39-42.23-41.8s17.79-41.83,42.23-41.83,42.23,17.39,42.23,41.83-17.79,41.8-42.23,41.8Z'/%3e%3cpath%20fill='%23141313'%20d='M1406.03,107.65l-23.58,112.61c-1.66,8.68-11.59,9.11-13.65-.4l-24.84-112.22h-94.79c-39.32,0-51.74-11.99-51.74-29.81s10.33-28.15,27.72-28.15c20.27,0,30.64,16.16,32.69,32.29h79.5C1325.35,29.38,1286.43,0,1230.52,0,1168.85,0,1130.32,36.04,1130.32,91.09v16.56h-44.71v67.07h44.71v144.08h81.15v-143.68h70.23l46.53,124.21c3.31,8.28,2.88,17.39-.4,26.1l-28.55,68.73h80.25l120.47-286.51h-93.97Z'/%3e%3cpath%20fill='%23141313'%20d='M886.41,117.98c0,3.31-3.71,3.31-7.02,1.66-19.87-9.94-34.35-15.3-54.65-15.3-60.45,0-93.97,49.29-93.97,107.65,0,64.59,37.26,98.54,87.77,98.54,23.19,0,40.57-7.02,62.1-19.47,5.37-3.31,9.51-.4,7.45,4.57-9.11,20.7-28.55,31.47-59.62,31.47h-83.2v67.07h98.5c72.04,0,123.78-47.63,123.78-114.67V107.65h-81.15v10.33ZM846.67,255.04c-24.41,0-42.23-17.39-42.23-41.8s17.79-41.83,42.23-41.83,42.23,17.39,42.23,41.83-17.79,41.8-42.23,41.8Z'/%3e%3cpath%20fill='%23141313'%20d='M1026.35,18.18c-26.1,0-44.71,16.16-44.71,39.35s18.61,39.35,44.71,39.35,44.72-16.16,44.72-39.35-18.62-39.35-44.72-39.35Z'/%3e%3crect%20fill='%23141313'%20x='985.78'%20y='107.65'%20width='81.15'%20height='211.15'/%3e%3c/g%3e%3c/g%3e%3c/g%3e%3c/svg%3e)
What is PriceLabs?
PriceLabs is a dynamic pricing tool that integrates with property management systems (PMS) and online travel agencies (OTAs) to help hosts and property managers maximize revenue. It analyzes vast amounts of market data, including occupancy rates, booking lead times, and competitor pricing, to generate daily rate recommendations.
The platform aims to eliminate manual price setting by automatically adjusting rates based on fluctuating market conditions, ensuring properties are priced competitively.
Join the Lodgify newsletter
How it works
Property managers begin by connecting their listing calendars or property management software, such as one from Lodgify, to the PriceLabs platform via API integration. PriceLabs then imports the property's availability and existing rates.
From there, it applies its data-driven algorithm, allowing hosts to set a base price and customize a wide range of rules, including minimum and maximum price limits, minimum stay requirements, and last-minute discounts. Once configured, PriceLabs can automatically push these optimized daily rates to all connected channels, updating them continuously in response to market shifts.
Why it matters
Manually adjusting rates across multiple listings and channels is inefficient and can lead to lost revenue. PriceLabs automates this complex task, allowing hosts to implement a sophisticated, data-driven revenue management strategy with minimal effort.
By reacting instantly to changes in supply and demand, the tool helps owners increase occupancy during slow periods and maximize profits on high-demand dates, ultimately leading to higher overall revenue. See the official website for current details.
Examples
- A host with a cabin near a national park uses PriceLabs to automatically increase her rates by 30% for a holiday weekend when a popular festival is announced, capturing peak demand without having to monitor local events herself.
- A property manager overseeing 15 urban apartments connects their portfolio to PriceLabs. The tool identifies a consistent dip in midweek occupancy and automatically applies a 15% discount for Tuesday and Wednesday nights, which helps fill those gaps.
- An owner of a beach house sees a two-day gap between week-long bookings. PriceLabs' orphan day settings automatically apply a slight discount to just those two nights, making the short stay more attractive and securing a last-minute booking.
- During the off-season, PriceLabs lowers the nightly rates for a lakeside cottage based on low market demand but keeps them above the owner's pre-set minimum price, ensuring the property still attracts bookings without becoming unprofitable.
Frequently asked questions
Is PriceLabs only for large property management companies?+
Can I override the price suggestions from PriceLabs?+
How does PriceLabs gather its market data?+
Does PriceLabs work for all types of properties?+
Related terms
Dynamic Pricing Tool
A dynamic pricing tool is a software solution that uses data analysis and algorithms to automatically adjust the pricing of a vacation rental. It helps hosts…
Revenue Management System (RMS)
A Revenue Management System (RMS) is software that utilizes data analytics to help hospitality businesses, including vacation rentals, optimize pricing and…
Beyond Pricing
Beyond Pricing is a dynamic pricing and revenue management software for the vacation rental industry that uses real-time market data to automate and optimize…
Average Daily Rate (ADR)
Average Daily Rate (ADR) is a key performance metric that measures the average rental revenue earned for an occupied property per day.