How to Get Seasonal Prices Right in PriceLabs?

Setting seasonal prices in PriceLabs is simple when you focus on a few key steps. The key factor to focus on is your BASE PRICE. Base price is the average nightly rate that you expect for your listing. It’s an average throughout the year, i.e. an average of high and low seasons. 

Here are the detailed steps on how you can fine tune your base price to get the seasonal prices just right:

Step 1. Set Your Base Price and Check Your Recommended Rates for High Season Months

1. Think about what you can sell your listing for during the high season. With the base price that you have chosen, see what your recommended rates look like for the high season month on your pricing calendar.
2. If they look too high, decrease your base price a little, or vice versa. Adjust your base price until the high-season prices look good to you - matching what you’re used to or expect.
3. Avoid setting your base price too high, as it can lead to low-season prices being unreasonably high, resulting in fewer bookings.
   

Step 2. Now Check Low Season Prices

1. Once the high season months look good, now look at your low season months and see what PriceLabs is recommending for the low season.
2. If the prices are dropping too low to be profitable, set a minimum price
   to ensure they don’t drop below your comfort level.

Step 3. Tweak Seasonality if Needed

If you feel the price difference between high and low seasons isn’t right, adjust the Seasonality Sensitivity.

Here are the different options:

1. Recommended: By default, the recommended settings are applied in our pricing algorithm based on your market.
2. Conservative: This option tones down the PriceLabs determined seasonality. If the PriceLabs seasonal factor is too much, you can try this to reduce the fluctuation of prices across the year.
3. Aggressive: This option tones up the PriceLabs determined seasonality. If PriceLabs seasonal factor is low, you can try this option to increase the seasonal fluctuation across the year. Increasing prices further during high season, and decreasing prices more during low season. 
4. No Seasonality: This option turns off the Seasonality factor we apply in our algorithm. 

After adjusting, recheck your base price to ensure your high-season prices still look accurate.

Step 4. Handle Special Cases

1. If your prices for certain months don’t feel right (e.g., one month seems too high or low), contact PriceLabs support for help—they can recommend the right settings for your specific case.
2. We generally DO NOT recommend using Custom Seasonal Profiles as PriceLabs already accounts for seasonality and applies it on your base price. But if you absolutely need to override our recommendations and apply your own seasonality, please check out the Custom Seasonal Profiles
   customization.

That’s it!

By setting a strong base price, checking high and low-season prices, and making small tweaks, you’ll have seasonal pricing that works for your market year-round.

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