Whenever you hover over any price on your calendar (single listing or multi-calendar), you will see a tooltip. This tooltip will help you understand how every rate in your calendar is calculated along with the customizations applying to that date!
Here’s what the different prices/terms on the tooltip mean:
The tooltip now shows you which Base Price is currently applied to your listing, whether it is from the default or seasonal base price.
- Seasonality: We set seasonality for your region based on historical trends in both vacation rentals and hotels.
- Demand Factor: The algorithm picks up the demand for the listing by incorporating day-of-week trends, events, and holidays into the demand forecasting process. The algorithm also picks up the booking trends in the market to forecast a high/low demand.
- Pacing Factor: The pacing adjustment has been put in place for some markets where the projected demand deviates significantly from historical seasonal trends. This deviation is calculated by considering how much ahead or behind your market occupancy is this year compared to previous years.
Uncustomized Price: This is the rate that the algorithm calculates based on only the neighborhood demand factors. This price is free from any of the discounts and customizations you add.
This section details all pricing customizations set on the listing/group/account level that are getting applied. Along with the customization, you can also see the level from which the customization is getting applied, whether it is our default customization or one you have set.
In the screenshot above, for example, you can see that a -10% is being applied for the "Listing Occ Pricing Factor" is one of our default adjustments (more on that here)
- Customized Price: This is the rate after the Pricing Customizations are applied to the Uncustomized Price
- Min and Max Price: Indicates how the minimum and maximum price is set (whether through the default prices or seasonal prices) and if there's none, it automatically sets a safety price (minimum safety price is 30% of the base price while the maximum safety price is 10 times the base price)
This is the price that you see in the calendar box, which the system will broadcast the next time it pushes prices; this is your Recommended Price.
Any customizations in place that don't adjust your pricing, like the 2-night minimum stay shown above or a day where check-in is blocked, will appear in this section.
Last Seen Price:
This is the price that the system saw on for this listing on your PMS, channel, or channel manager when it last pushed prices. If you have been using PriceLabs for a bit, this is usually yesterday's price.
Price with default discounts:
This is what your price would be if the system didn't add any of your customization settings, including your set minimum and maximum prices. This price will only consider discounts and premiums we apply by default from our algorithm.
Default Discounts and Premiums
One of the ways in which we make changes to your pricing is by adding premiums and discounts to certain dates depending on their position relative to holidays, events, and other bookings. You might wonder, "why is there a 20% discount on my orphan ...
Understanding the Pricing Calendar
(Watch our Pricing Calendar Playlist here) The calendar shows recommended prices for each available night in the future. You might notice that each day has a different price - and this is the magic of dynamic pricing! In general, the prices fluctuate ...
Understanding the PriceLabs Multi Calendar
(Watch our Multi Calendar page Playlist here) The Multi Calendar page allows you to view and set pricing customizations and overrides, toggle sync on or off, perform a manual sync, or save and refresh your listings. Using this page, you can perform ...
Last Minute Prices
You can use this customization to fine-tune your prices for last-minute dates. If you want PriceLabs industry first Market Driven Discounts, please move your listings to Hyper Local Pulse (new algorithm). Listing Level PriceLabs Determined If your ...
How Are the Price Recommendations Calculated?
Our algorithm integrates multiple factors, customizable inputs, and controllable settings, alongside data-driven analytics, to deliver enhanced results. When you review prices for a listing for the first time - You must first set your Base Price of ...