Impacts of NOT Updating Prices for Unavailable Dates

Impacts of NOT Updating Prices for Unavailable Dates

By default, PriceLabs continue to calculate and update rates even for booked or unavailable dates (except for VRBO due to a limitation in the integration).

Why?
  1. This is because we want to ensure that we are keeping up with the market trends. If a date is cancelled, then the listed price will be the most recent PriceLabs recommendation which accounts the current market condition.
  2. When you have blocked dates, having updated rates upon removal of the blocks will be useful so bookings will not come in at unreasonable prices.

Opt to NOT update prices for unavailable dates

With this customization, if a date becomes available, it will be listed for the last price that we successfully pushed, which might have happened a long time ago and not have incorporated changes to customizations or changes to market conditions.

Why enable it?
  1. This can be used as security to prevent abuse, where guests book far-out with a permissible cancellation policy, and cancel close to the date then rebook to get a cheaper price with last minute discounts.
  2. If a guest amends an existing booking (e.g. extending the stay), Airbnb recalculates the whole quote with the new rates. So, if any last-minute discounts are applied on the updated rates, then the additional night will potentially be booked at a very cheap rate.

Important Note:
The last booked prices will only be retained on the dates of the cancelled booking until the next sync of prices. Once the automatic sync happens, the rates will then be overridden with the updated prices applying the current market conditions and corresponding latest customizations.

How to enable this?
Please reach out to support@pricelabs.co to enable this customization on your account.

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