2021-02(February) : 2020 recap and webinar announcement for 2021 pricing strategies!

2021-02(February) : 2020 recap and webinar announcement for 2021 pricing strategies!

What a year 2020 was!

Business in general and especially for our industry was anything but usual. 

Now that we are a month into 2021, we imagine that you are thinking about what 2021 holds in-store and making plans to tackle what the year will bring. 

We thought this would be an excellent time to get reacquainted with some of the changes we made to PriceLabs in 2020! We made several changes to PriceLabs by launching new products and making several enhancements to our existing solution. We also spent a lot of time updating our trainings & resources. Finally, we grew our team in 2020 so that we can better support your needs in 2021! 

We would also like to take this opportunity to introduce a webinar that we are hosting on February 9 to discuss some pricing tactics to adopt in 2021!

2020 Product launches:

In 2020, we took the time to upgrade our product and add capabilities that would help you learn more about your markets and price your properties better! 

  • We released Market Dashboards so that customers could track the current market trends for vacation rentals in their area. Similar to our Dynamic Pricing solution, our market dashboards are available globally. We thought this would be useful data for our customers, especially during the challenging & volatile times because of COVID-19. We had these as a free to use feature from April through October! We are delighted that so many of you found these useful and continue to provide us with relevant feedback.

  • As on offshoot of the Market Dashboards product, we realized the need to revamp the Neighborhood Data we exposed on our Dynamic Pricing product. In November, we released a new Neighborhood Data tab so that you could see how your prices compared to other properties in your area throughout the year.

We also launched Portfolio Analytics, a real-time reporting system that allows you to spot insights and trends from your reservation history! It pulls data from your PMS into easy to understand graphs! This is a FREE to use product and works with most of our PMS partners!
Try portfolio analytics now

Time savings is the second most cited benefit of using PriceLabs by our users. First of course is increased revenues. So, we also launched several features that enhance your experience of using PriceLabs. 

  • Most notably, we added Multi-calendar so that you could manage rates & minimum stays for multiple listings from one single page. This release was to help reduce the time you spent on PriceLabs, especially if you had a large portfolio. Now you can visualize pricing for several listings and make changes quickly. Multi-calendar is also mobile-friendly so that you can make changes on the go!

  • Groups make it easy to manage customizations across a similar set of listings. We added the ability for users to Clone Groups so that you can quickly duplicate a customization group to apply similar customizations to new properties!

We are thankful to PMS’ that work with us because it would be nearly impossible to update rates on various OTAs without them! PriceLabs today supports 49 PMS integrations, and we’ll cross 50 in the next few months! 

In 2020, we added the following 15 PMS partners. The full list of PMS’ we integrate with can be found here

Also, we launched our self serve API to send rates to your custom PMS using our API. More on it here.

Supporting you with knowledge

In 2020, we spent a lot of time sharing information and best practices so that you could get the best out of PriceLabs. 

  1. We revamped our knowledge base so that you could find answers to the most
    common questions quickly. You can find our
     knowledge base here. We also added a help button inside the product, the '?' at the right bottom, so that you could look at the knowledge base while working inside PriceLabs.

  2. We added new training webinars series in English, French, Portuguese, and Spanish. We have two levels of webinars that go into details of basic and advanced settings in PriceLabs. If you’d like to refresh your knowledge of using PriceLabs’, we’d highly recommend joining us for one of these!

  3. We also did a ton of webinars with PMS partners and added help content in video format. Browse through our YouTube channel here.

  4. We interviewed some of our customers on how / why they use PriceLabs. Browse through the customers’ stories here.

  5. And, lastly, we wrote blogs to detail out some strategies that we’d recommend. Here are some of our favorites:

    1. How Covid-19 Will Change Revenue Management For Vacation Rentals

    2. Dynamic Pricing Strategies For Villas & Chalets

    3. Contrasting Recovery Trends Between Urban vs. Vacation Markets

    4. Mid-Term Rental Channels And Pricing Strategies

    5. Using PriceLabs For Multi-Unit Accommodation Pricing

PriceLabs Team

We are bullish on the vacation rental market.

While the last ten months have been a very bumpy ride, we have been continuing to invest in steadily building our team to continue to deliver the best revenue management product. 

In 2020, we grew our team to 15 people. Here is everyone that works at PriceLabs, and you might have interacted with them over emails or on calls! 
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