Price Calculations
'AI Insights' in Neighborhood Data: Understanding Price and Occupancy charts
What is AI Insights & Why introduce this feature? At PriceLabs, our mission is to democratize revenue management. This is why we’re thrilled to announce that we’re now leveraging Generative AI to turn complex data into simple sentences. We can ...
Events, Holidays, and High-Demand Dates
The Events/Holidays feature allows you to stay informed about significant occasions in your hyperlocal market, providing insights into upcoming events, holidays, and high-demand dates. This also includes the average prices set for each of these ...
Pricing Recommendation Nudges
What are nudges? Nudges framework delivers customized suggestions, saving you time and optimizing your pricing strategies for higher occupancy and revenue, especially if you manage an portfolio of listings. You'll receive prompts (also called nudges) ...
How Pricelabs Dynamic Pricing can affect your Airbnb ranking
Airbnb's search engine plays a crucial role in helping travelers find the perfect accommodation for their needs. To ensure that guests are shown the most relevant listings, Airbnb uses a complex algorithm that takes into account a wide range of ...
Percentile Distribution
Percentile - A value on a scale of 100 that indicates the percent of a distribution. It is a way of expressing where an observation falls in a range of other observations. In PriceLabs, percentiles are used frequently to understand how a property is ...
Using Vrbo data for your dynamic pricing!
After 2 years of tracking Vrbo booking trends, we're finally ready to put them to work. You can now opt in to have Vrbo data drive your dynamic pricing recommendations if you are in a Vrbo heavy market. We did want to add a few findings from out ...
Pacing Factor
What is the pacing factor? The pacing adjustment has been put in place for some markets where the projected demand is deviating significantly from historical seasonal trends. This deviation is calculated by considering how much ahead or behind your ...
How should you price compared to your competition?
We sometimes get requests from our customers asking if it would make sense to have their pricing/rates always hover at the median price (or some other percentile to reflect their home's desirability) of the comparable neighborhood market. While ...
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 ...
Listing Neighborhood Data
When pricing any listing, there are always several questions that come up: What is the average price in your area? How are prices compared to comps? How does occupancy compare? How are listings priced in the next months? Are they getting booked? Are ...