We gradually increase the prices far out to ensure that for large events (yet to be announced), you're not the first ones to get booked. Also, because the demand for next period is uncertain and since we are looking to maximize your nightly rates, we keep the rates high to try and get a booking at a higher rate. 

Before You Start

• By default, we apply either Market Driven (Balanced) if you are on the Hyper Local Pulse or PriceLabs Determined if you are using the Old Algorithm.
  
1. Market Driven (Balanced) for Hyper Local Pulse: The numbers will change for your everyday as we observe the market trends to maximize revenue. An example of the same can be seen in the screenshot below.
2. PriceLabs Determined for Old Algorithm: We apply a gradual 20% premium over seven months after 30 days. After 240 days, a flat 20% premium is applied.
• Please switch to the Hyper Local Pulse to be able to use the Market Driven option.
• Limitations for the Far Out Prices:
  • Start no earlier than 60 days from today.
  • Have a maximum premium cap of 20%.

Benefits of Far-Out Pricing Customization

• Ensures your property remains competitive for large, yet-to-be-announced events.
• Helps maximize revenue by keeping rates high when future demand is uncertain.
• Allows flexibility in setting far-out pricing rules based on revenue strategy.

Available Options (Listing Level)

• % Gradual: Sets a maximum premium/discount value and specifies the number of days to reach that maximum.
  • Example: A 10% premium after 90 days, applied gradually over 60 days, results in a 10% premium on day 150.
• % Flat: Applies a fixed percentage premium (or discount) beyond a specified time frame.
  • Example: A 30% premium applied after a certain number of days.
• No Far-Out Prices: Disables far-out premiums entirely.
  
• Market Driven (Only for HLP Listings): Uses automated market-driven adjustments based on real-time trends.
  
• Market Driven (Balanced) - This applies the same Far Out adjustments seen on your competitors.
  
• Market Driven (Conservative) - This is a toned down version of the Balanced option. If you think Market Driven (Balanced) applies too much premium, you can opt for this instead.
  
• Market Driven (Aggressive) - This is a amped up version of the Balanced option. If you think Market Driven (Balanced) applies too little Premium, you can opt for this instead.
  

Steps:

1. Head over to your Pricing Dashboard → Review Prices on the listing.
   
2. Once on the Pricing Calendar, click the "Edit" button on the Customizations panel
   
3. Go to the All Customizations tab → Far Out Prices.
4. Enable the toggle for Customize Far Out Prices.
   
5. Enter your preferred set up and click Save.
   
   

Available Options (Group/Account Level)

1. PriceLabs Determined:
   
1. In the group or account level, you will not see Market Driven. You will only see PriceLabs Determined and applies to the listing depends on whether your listing is in the Hyper Local Pulse or Old Algorithm.
   
1. If your listing is on Hyper Local Pulse, Market Driven defaults apply
   
2. If your listing is on the Old Algorithm, the regular gradual 20% premium over seven months after 30 days applies.
   

• Other Customization Options:
  • Options are the same as listing-level settings, except for Market Driven.
  • If you want Market Driven pricing, apply it at the listing level and ensure the listing is on Hyper Local Pulse.
    
  • If you prefer more elaborate rules, select "No Far-Out Prices" and use Occupancy-Based Adjustments to customize far-out premiums.
    

Steps:

1. Navigate to the Dynamic Pricing → Customizations.
2. Go to the Account or Group tab
3. Click Edit across the account or group you want to set.
   
   
4. Click All Customization → Far Out Prices.
   
5. Enable the toggle for Customize Far Out Prices.
   
6. Enter your preferred set up and click Save.
   

Minimum Far Out Prices

This is another option similar to the default minimum price but is only applies for your Far Out Days. This allows you to set a lower or higher minimum price depending your pricing goals.

 

For other Minimum Price options, you can also check: Advanced Minimum Price Settings

Video