Advanced Customizations
Safety Minimum Price
What is Safety Minimum Price (SMP)? The Safety Minimum Price (SMP) is a feature designed to ensure that your minimum nightly rate never drops below a certain threshold. This threshold is based on your historical booking data, specifically the Average ...
Rounding and Smoothing
Rounding Rounding ensures that your final prices always end in a number that looks cleaner or more marketable, such as ending in 0, 5, or 9. Before You Start The rounding adjustment is applied after all other price calculations. However, rounding ...
Extra Person Fee
In short-term rentals or hotels, property managers often charge extra when more guests stay than the base occupancy allows. This is where the Extra Person Fee comes in. This is an automation feature in PriceLabs that helps you charge additional fees ...
Far Out Prices
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 ...
Demand Factor Sensitivity
Our price recommendations depend on multiple factors, but they can be broadly categorized into three key areas: Broad Trends: Factors that remain relatively stable across different stay dates, such as base price and seasonality. Daily Demand Trends: ...
Length of Stay Pricing Adjustments
Length of Stay (LOS) Pricing is a flexible pricing strategy that adjusts the nightly rate based on how long a guest is planning to stay. This customization allows you to apply a percentage-based premium or discount on the final recommended price ...
Adjacent Factor
The Adjacent Factor customization allows users to adjust prices for the days before and after a booking, helping to either encourage or discourage back-to-back reservations. This feature is useful for managing gaps between bookings and optimizing ...
Pricing Offsets
The Pricing Offset customization allows users to apply a Fixed or Percent price adjustment on the Recommended Price after all other customizations have been applied. This feature is especially useful for ensuring comparable pricing across different ...