Hello there!

To help you maximize the revenue from your listings, we are constantly upgrading and growing our products, and, over the past couple of months, we have found new ways to sustain that growth. (If you’re not using PriceLabs yet, you can start your free 30-day trial here and optimize your prices today).

In this email, we are introducing 15+ updates that we rolled out over the past months! This email only discussed the major ones that impact most of our customers. You can learn about all the latest releases here.
 

We announced our very first round of funding from Summit Partners ($30 million!). Read about our journey from being profitably bootstrapped to funded. We plan to use this money to provide you with the best product experience while you manage your properties. We’ll also grow our team globally to better assist you.
 

To continue providing you with the highest quality of support, the team grew by 1.5x during this period!
 

We welcomed Rental Scale-Up to the PriceLabs family! This is another step towards the path of helping you with the latest in the vacation rental industry and the best practices to follow to make your business successful.
 

Let’s jump right in.

Major Updates

Higher control over your minimum stay restrictions with our latest enhancements

In June, we introduced our intelligent MinStay Recommendation Engine, an industry-first, to suggest the best minimum stay restrictions for your properties to maximize revenue. 

Since then, we have continuously improved our minimum stay restrictions to make it work for you exactly as you'd like.

Your minimum stay restrictions always stay above your lowest threshold, no matter what.

Our minimum stay settings work with each other in a way that fits in with your strategy.

There might sometimes be various settings and overrides set that might result in shorter bookings for some listings than you’d like. To combat this, we have introduced the option to add the lowest minimum number of nights that you are comfortable with getting a booking for.

You will never get shorter bookings than the value entered here, irrespective of the other settings you might have.

Find this option under customizations for each listing under Review Prices in the Dynamic Pricing tool.

Adjacent day restrictions are now much more flexible.

We introduced Adjacent day settings within Minimum Stay Restrictions in March this year. You can use this setting to proactively prevent gaps from being created in your calendar by allowing shorter stays before and after an existing booking. (Read more about how you can prevent gap days using this feature.)

In the previous version of the feature, there was no way to set different rules for weekdays and weekends. But, weekdays and weekend demand patterns differ, and your strategy must consider this. So, with our latest update, you can split the adjacent day settings by weekday vs. weekend.

Explore this under Minimum stay settings customizations in the Review Prices tab.

Get an overview of your minimum stay restrictions over the year.

Enjoy greater transparency using our brand new stay restrictions graph to visualize how your minimum stay restrictions vary over the next year. You can also find out why you have a different minimum stay set at certain time periods to proactively adjust your strategy.

You can find this graph in Neighborhood Data under Review Prices.

Advanced features to optimize your revenue and occupancy

1. Use different orphan day settings for different booking windows.

To optimize your occupancy, you can now set different minimum stay restrictions for the orphan days based on the booking window.

Sometimes your orphan day settings might fill a gap in your calendar many months out. But a cancellation, later on, might open up the calendar to where you didn't really need to take that short gap booking after all. If you get a lot of cancellations, this setting might be helpful. With this option, you can choose not to fill gaps far out or gaps for short nights last-minute.

2. Avoid gaps in your calendar by setting priority

Allow orphan day settings or adjacent day settings to take precedence over the other restrictions and increase the minimum stay (as per the orphan/adjacent day settings) when such a situation occurs. This will help reduce gaps in your calendar.

Just check the "allow mainstay increase" box near the setting you want to prioritize.

Please note that these are advanced features. To use them, please reach out to our support team and simply ask to enable them for your account.

New in Integrations

1. Meet our new partners: Bookipro and Update247

If you are using Bookipro or Update247 as your PMS, you can now enjoy the advantages of data, automation, and intelligence from PriceLabs.

Just create a free account on PriceLabs, and click on ‘Add your listing’ to select your PMS.
 

2. New PriceLabs capabilities for customers using MEWS PMS

To make managing your prices convenient, we regularly work with our partners. If you are using MEWS as your PMS, you can now:

• Set adjustments to multiple rate plans directly from PriceLabs

• Access our Portfolio Analytics directly from MEWS for free

• Adjust prices and minimum stay restrictions for multi-unit listings

Using another PMS? We integrate with 70+ PMS and Channel Managers.
Explore All Integrations.

Or, try our Dynamic Pricing API to integrate it with your custom PMS.

Other Useful Updates

• Got questions about using our product? We have introduced a Quick References guide in the product. Use it to revisit various features quickly, watch the how-to videos if you are stuck, or schedule a training session to get more help or just as a refresher.

• Audit future prices and stay restrictions and easily collaborate with your team and stakeholders to adjust your strategy by downloading the prices and data in CSV file format.

• Now you can compare against the prices of selected competitors 365 days into the future instead of just 90 days! Check out Compare Competitor Calendar in the Neighborhood Data tab to use this.

Register for a Free webinar to learn more about these new features and to share your thoughts with us. We host these webinars in English, Italian, French, Spanish, and Portuguese.

Visit our product updates repository to keep up with our past releases.

[EVENT ALERT] Softening demand and Recession: Concrete Ways to Preserve Your Revenue

Is your revenue strategy bulletproof enough to face the low-demand season to hit the US or Europe market?

High inflation, recession, and a potential new COVID wave might lead to lower bookings.

Rental Scale-Up is organizing a hands-on conference on August 25th to discuss building a sustainable revenue strategy that withstands uncertain economic situations like these.

Join experts from PriceLabs, Key Data Dashboard, Your.Rentals, and Rental Scale-up in this hour-long discussion and use the actionable tips for your own business.

What’s more? It's completely FREE to attend!

Register for the webinar today.