2020-02 (Feb): Custom Seasonal Profile

2020-02 (Feb): Custom Seasonal Profile

Custom Seasonal Profiles let you set different minimum, base, and maximum prices for different seasons throughout the year, giving you full control over each listing’s seasonality.
Our default pricing algorithm already implements seasonal trends based on market data and are a great option for the majority of users, but these new settings are the perfect addition if you:
  • Operate in heavily seasonal areas and our market seasonality wasn't capturing this to the full extent.
  • Manage properties where you have less flexibility in pricing (owner requirements, cost structure, etc.).
  • Have luxury properties with very small comp-sets where listings perform differently from the market.
  • Need more control of your pricing but still want all of the automation that comes with PriceLabs!

When to use seasonal adjustments
  • Single Base Price: Recommended for most users, as we already account for seasonality
  • Date Specific Overrides: Recommended when you want to make one off adjustments due to holidays and events, market dynamics, or owner requests that don't repeat every year.
  • Seasonal Base Price: If you're a pro-user, that falls into one of the categories above!

Seasonal profiles can be set as individual listing level or group level customizations. These can be set as fixed values or percent changes to each listing’s minimum, base, and maximum price.

Fixed values allow you to set a fixed minimum, base, and maximum price for each season. This is useful when making adjustments to individual listings with very specific seasonalities, or when a group needs nearly identical pricing.
Percentage change allows you to decrease your rates by a percentage during the slow season and increase them by a percentage in the high season. These adjustments will be applied to each listing’s standard minimum, base, and maximum price.
Important Notes:
  • Seasons must cover every date of the year from Jan 1 to Dec 31. These seasons are not for a specific year and will repeat annually.
  • If a season's min/base/max prices are left empty, the listing level min/base/max price will be applied.
  • Once you've set seasonal prices, the listing's standard min/base/max prices will be ignored wherever the seasonal price is filled in.
  • Our default seasonality factors (that are obtained from our market data) will still continue to apply. If you want to turn these completely off and fully manage your seasonality, please let us know by emailing support@pricelabs.co.
Read Full Details Here

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